Simplicity Wealth LLC Invests $309,000 in Hawaiian Electric Industries, Inc. (NYSE:HE)

Simplicity Wealth LLC acquired a new stake in Hawaiian Electric Industries, Inc. (NYSE:HE) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 27,421 shares of the utilities provider’s stock, valued at approximately $309,000.

Other large investors have also made changes to their positions in the company. Quadrature Capital Ltd acquired a new stake in Hawaiian Electric Industries during the 3rd quarter valued at $1,670,000. Assenagon Asset Management S.A. acquired a new position in shares of Hawaiian Electric Industries in the 4th quarter valued at approximately $19,015,000. Trexquant Investment LP acquired a new stake in shares of Hawaiian Electric Industries during the third quarter worth approximately $4,729,000. Swiss National Bank boosted its stake in Hawaiian Electric Industries by 1.0% during the 3rd quarter. Swiss National Bank now owns 240,900 shares of the utilities provider’s stock valued at $2,965,000 after acquiring an additional 2,300 shares during the last quarter. Finally, Numerai GP LLC bought a new stake in Hawaiian Electric Industries in the third quarter valued at about $1,269,000. Institutional investors and hedge funds own 59.91% of the company’s stock.

Hawaiian Electric Industries Price Performance

NYSE HE traded down $0.46 on Thursday, reaching $10.68. 1,379,971 shares of the stock traded hands, compared to its average volume of 2,437,591. Hawaiian Electric Industries, Inc. has a 12 month low of $8.74 and a 12 month high of $40.16. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 1.19. The firm’s fifty day simple moving average is $10.77 and its 200 day simple moving average is $12.35. The company has a market cap of $1.18 billion, a price-to-earnings ratio of 6.41 and a beta of 0.55.

Analyst Ratings Changes

Several equities research analysts recently weighed in on HE shares. StockNews.com upgraded shares of Hawaiian Electric Industries from a “sell” rating to a “hold” rating in a research note on Monday, April 15th. Wells Fargo & Company raised their target price on Hawaiian Electric Industries from $8.50 to $9.00 and gave the company an “underweight” rating in a research note on Monday, May 13th. Finally, Evercore ISI upped their price target on shares of Hawaiian Electric Industries from $7.00 to $11.00 and gave the stock an “in-line” rating in a research report on Thursday, February 15th. Two equities research analysts have rated the stock with a sell rating and two have given a hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $11.63.

Hawaiian Electric Industries Company Profile

Hawaiian Electric Industries, Inc, together with its subsidiaries, engages in the electric utility businesses in the United States. It operates in three segments: Electric Utility, Bank, and Other. The Electric Utility segment engages in the production, purchase, transmission, distribution, and sale of electricity in the islands of Oahu, Hawaii, Maui, Lanai, and Molokai.