FORA Capital LLC Buys Shares of 71,518 Hawaiian Electric Industries, Inc. (NYSE:HE)

FORA Capital LLC purchased a new position in shares of Hawaiian Electric Industries, Inc. (NYSE:HE - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 71,518 shares of the utilities provider's stock, valued at approximately $692,000. FORA Capital LLC owned 0.06% of Hawaiian Electric Industries as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. raised its position in Hawaiian Electric Industries by 1.5% in the first quarter. Vanguard Group Inc. now owns 11,059,244 shares of the utilities provider's stock valued at $124,638,000 after purchasing an additional 160,815 shares during the period. AQR Capital Management LLC increased its position in shares of Hawaiian Electric Industries by 52.8% during the 2nd quarter. AQR Capital Management LLC now owns 6,693,424 shares of the utilities provider's stock worth $60,308,000 after purchasing an additional 2,312,950 shares during the last quarter. FMR LLC raised its holdings in Hawaiian Electric Industries by 7,986.3% in the 3rd 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 period. Charles Schwab Investment Management Inc. lifted its position in Hawaiian Electric Industries by 20.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,021,649 shares of the utilities provider's stock valued at $29,250,000 after buying an additional 514,989 shares during the last quarter. Finally, Millennium Management LLC boosted its stake in Hawaiian Electric Industries by 79.0% during the second quarter. Millennium Management LLC now owns 1,870,088 shares of the utilities provider's stock worth $16,868,000 after buying an additional 825,073 shares during the period. Institutional investors and hedge funds own 59.91% of the company's stock.

Hawaiian Electric Industries Stock Performance

Shares of NYSE:HE traded down $0.12 during trading on Friday, reaching $10.41. The company had a trading volume of 1,070,269 shares, compared to its average volume of 3,371,857. Hawaiian Electric Industries, Inc. has a fifty-two week low of $7.61 and a fifty-two week high of $18.19. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.18 and a quick ratio of 0.18. The stock's fifty day moving average price is $10.13 and its 200 day moving average price is $11.16. The firm has a market capitalization of $1.79 billion, a price-to-earnings ratio of -0.88 and a beta of 0.53.

Hawaiian Electric Industries (NYSE:HE - Get Free Report) last issued its quarterly earnings results on Friday, November 8th. The utilities provider reported $0.46 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.53 by ($0.07). The firm 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 firm's revenue for the quarter was up 9.0% on a year-over-year basis. During the same quarter last year, the business posted $0.37 EPS.

Analyst Ratings Changes

A number of equities research analysts have issued reports on HE shares. Evercore ISI reduced their price target on Hawaiian Electric Industries from $11.00 to $10.00 and set an "in-line" rating on the stock in a research report on Tuesday, November 19th. StockNews.com lowered shares of Hawaiian Electric Industries from a "hold" rating to a "sell" rating in a report on Friday, October 4th. Finally, Wells Fargo & Company lowered their target price 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.

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.