Synovus Financial Corp Purchases 304 Shares of Hawaiian Electric Industries, Inc. (NYSE:HE)

Synovus Financial Corp lifted its position in Hawaiian Electric Industries, Inc. (NYSE:HE) by 2.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 11,335 shares of the utilities provider’s stock after buying an additional 304 shares during the period. Synovus Financial Corp’s holdings in Hawaiian Electric Industries were worth $518,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Texas Permanent School Fund raised its holdings in shares of Hawaiian Electric Industries by 0.3% during the third quarter. Texas Permanent School Fund now owns 74,171 shares of the utilities provider’s stock valued at $3,383,000 after purchasing an additional 238 shares during the last quarter. First Republic Investment Management Inc. increased its holdings in Hawaiian Electric Industries by 1.1% during the second quarter. First Republic Investment Management Inc. now owns 23,238 shares of the utilities provider’s stock valued at $1,012,000 after buying an additional 251 shares during the last quarter. Captrust Financial Advisors increased its holdings in Hawaiian Electric Industries by 18.9% during the second quarter. Captrust Financial Advisors now owns 1,777 shares of the utilities provider’s stock valued at $77,000 after buying an additional 282 shares during the last quarter. AGF Investments LLC increased its holdings in Hawaiian Electric Industries by 4.3% during the second quarter. AGF Investments LLC now owns 7,028 shares of the utilities provider’s stock valued at $306,000 after buying an additional 287 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan increased its holdings in Hawaiian Electric Industries by 1.5% during the second quarter. Municipal Employees Retirement System of Michigan now owns 20,140 shares of the utilities provider’s stock valued at $877,000 after buying an additional 290 shares during the last quarter. Hedge funds and other institutional investors own 54.00% of the company’s stock.

HE has been the subject of a number of research reports. ValuEngine cut shares of Hawaiian Electric Industries from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. JPMorgan Chase & Co. cut shares of Hawaiian Electric Industries from a “neutral” rating to an “underweight” rating and upped their target price for the company from $37.00 to $38.00 in a report on Friday, August 9th. Zacks Investment Research raised shares of Hawaiian Electric Industries from a “sell” rating to a “hold” rating and set a $47.00 target price for the company in a report on Wednesday, October 9th. Finally, UBS Group upped their target price on shares of Hawaiian Electric Industries from $35.00 to $37.00 and gave the company a “sell” rating in a report on Friday, September 13th. Three equities research analysts have rated the stock with a sell rating and two have issued a hold rating to the company. The stock currently has a consensus rating of “Sell” and a consensus target price of $39.00.

In other Hawaiian Electric Industries news, Director Jeffrey N. Watanabe sold 5,700 shares of the company’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $44.21, for a total value of $251,997.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Micah A. Kane sold 2,800 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $44.60, for a total transaction of $124,880.00. The disclosure for this sale can be found here. Corporate insiders own 0.94% of the company’s stock.

HE stock traded down $0.04 during midday trading on Friday, reaching $43.42. 489,716 shares of the company’s stock traded hands, compared to its average volume of 357,495. Hawaiian Electric Industries, Inc. has a 52-week low of $35.06 and a 52-week high of $45.96. The stock has a market cap of $4.78 billion, a P/E ratio of 23.47, a PEG ratio of 5.55 and a beta of 0.21. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.94. The stock’s 50-day moving average is $44.95 and its 200 day moving average is $43.77.

Hawaiian Electric Industries (NYSE:HE) last posted its quarterly earnings results on Friday, November 1st. The utilities provider reported $0.58 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.58. The business had revenue of $771.54 million during the quarter, compared to analyst estimates of $814.36 million. Hawaiian Electric Industries had a net margin of 6.98% and a return on equity of 9.23%. The company’s revenue was up .5% on a year-over-year basis. During the same period in the prior year, the business posted $0.60 earnings per share. As a group, research analysts expect that Hawaiian Electric Industries, Inc. will post 1.88 EPS for the current fiscal year.

About Hawaiian Electric Industries

Hawaiian Electric Industries, Inc, through its subsidiaries, engages in the electric utility and banking businesses primarily in the state of Hawaii. The company's Electric Utility segment is involved in generating, purchasing, transmitting, distributing, and selling electric energy. Its renewable energy sources and potential sources include wind, solar, photovoltaic, geothermal, wave, hydroelectric, municipal waste, and other bio fuels.

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Institutional Ownership by Quarter for Hawaiian Electric Industries (NYSE:HE)

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