120,300 Shares in Hawaiian Electric Industries, Inc. (NYSE:HE) Purchased by Mad River Investors

Mad River Investors acquired a new position in shares of Hawaiian Electric Industries, Inc. (NYSE:HE - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 120,300 shares of the utilities provider's stock, valued at approximately $1,171,000. Hawaiian Electric Industries accounts for approximately 0.5% of Mad River Investors' portfolio, making the stock its 18th biggest position. Mad River Investors owned 0.07% of Hawaiian Electric Industries as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Zimmer Partners LP purchased a new position in Hawaiian Electric Industries in the third quarter valued at $145,200,000. FMR LLC increased its holdings in Hawaiian Electric Industries by 7,986.3% in the third quarter. FMR LLC now owns 5,340,679 shares of the utilities provider's stock valued at $51,698,000 after buying an additional 5,274,633 shares during the last quarter. Franklin Resources Inc. increased its holdings in Hawaiian Electric Industries by 656.7% in the third quarter. Franklin Resources Inc. now owns 2,722,668 shares of the utilities provider's stock valued at $27,499,000 after buying an additional 2,362,863 shares during the last quarter. AQR Capital Management LLC increased its holdings in Hawaiian Electric Industries by 52.8% in the second quarter. AQR Capital Management LLC now owns 6,693,424 shares of the utilities provider's stock valued at $60,308,000 after buying an additional 2,312,950 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in Hawaiian Electric Industries by 49.3% in the third quarter. Geode Capital Management LLC now owns 3,793,142 shares of the utilities provider's stock valued at $36,725,000 after buying an additional 1,253,143 shares during the last quarter. Hedge funds and other institutional investors own 59.91% of the company's stock.

Analyst Ratings Changes

Several research firms have issued reports on HE. Evercore ISI decreased their price objective on shares of Hawaiian Electric Industries from $11.00 to $10.00 and set an "in-line" rating for the company in a research note on Tuesday, November 19th. Wells Fargo & Company decreased their price objective on shares of Hawaiian Electric Industries from $14.00 to $11.50 and set an "equal weight" rating for the company in a research note on Monday, September 30th. Jefferies Financial Group decreased their price objective on shares of Hawaiian Electric Industries from $11.50 to $10.50 and set a "hold" rating for the company in a research note on Friday, January 3rd. Finally, StockNews.com upgraded shares of Hawaiian Electric Industries from a "sell" rating to a "hold" rating in a research note on Saturday, January 11th.

Hawaiian Electric Industries Stock Performance

Shares of HE traded up $0.44 during mid-day trading on Tuesday, hitting $9.58. 2,761,036 shares of the company's stock were exchanged, compared to its average volume of 3,211,825. Hawaiian Electric Industries, Inc. has a fifty-two week low of $7.61 and a fifty-two week high of $18.19. The firm has a market capitalization of $1.65 billion, a P/E ratio of -0.81 and a beta of 0.53. The business's 50 day moving average is $9.87 and its two-hundred day moving average is $11.07. The company has a current ratio of 0.18, a quick ratio of 0.18 and a debt-to-equity ratio of 1.80.

Hawaiian Electric Industries (NYSE:HE - Get Free Report) last announced its earnings results on Friday, November 8th. The utilities provider reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.07). The business had revenue of $983.38 million for the quarter. Hawaiian Electric Industries had a positive return on equity of 11.12% and a negative net margin of 35.38%. The business's revenue for the quarter was up 9.0% on a year-over-year basis. During the same period last year, the business earned $0.37 EPS. On average, equities analysts expect that Hawaiian Electric Industries, Inc. will post 1.71 earnings per share for the current year.

About Hawaiian Electric Industries

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.