49,080 Shares in Hawaiian Electric Industries, Inc. (NYSE:HE) Bought by Bryce Point Capital LLC

Bryce Point Capital LLC purchased a new position in Hawaiian Electric Industries, Inc. (NYSE:HE - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 49,080 shares of the utilities provider's stock, valued at approximately $478,000.

Several other institutional investors also recently added to or reduced their stakes in the stock. Virtu Financial LLC bought a new position in shares of Hawaiian Electric Industries during the 3rd quarter worth $821,000. Franklin Resources Inc. increased its position in Hawaiian Electric Industries by 656.7% during the 3rd quarter. Franklin Resources Inc. now owns 2,722,668 shares of the utilities provider's stock valued at $27,499,000 after purchasing an additional 2,362,863 shares during the period. FMR LLC raised its holdings in shares of 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 purchasing an additional 5,274,633 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Hawaiian Electric Industries by 14.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,471,522 shares of the utilities provider's stock worth $33,778,000 after purchasing an additional 449,873 shares during the period. Finally, MetLife Investment Management LLC boosted its stake in shares of Hawaiian Electric Industries by 239.6% during the third quarter. MetLife Investment Management LLC now owns 94,991 shares of the utilities provider's stock valued at $920,000 after purchasing an additional 67,020 shares in the last quarter. Hedge funds and other institutional investors own 59.91% of the company's stock.

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Hawaiian Electric Industries Stock Performance

Shares of NYSE:HE traded down $0.49 on Thursday, hitting $9.29. 1,152,514 shares of the company were exchanged, compared to its average volume of 3,544,547. The firm has a market capitalization of $1.60 billion, a P/E ratio of -0.78 and a beta of 0.51. 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, Inc. has a 1-year low of $7.61 and a 1-year high of $18.19. The stock's 50 day moving average price is $10.54 and its 200 day moving average price is $10.08.

Hawaiian Electric Industries (NYSE:HE - Get Free Report) last issued its quarterly earnings results on Friday, February 21st. The utilities provider reported $0.20 EPS for the quarter, missing analysts' consensus estimates of $0.39 by ($0.19). The firm had revenue of $799.18 million for the quarter. Hawaiian Electric Industries had a positive return on equity of 11.12% and a negative net margin of 35.38%. Sell-side analysts predict that Hawaiian Electric Industries, Inc. will post 1.71 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on HE. Barclays increased their target price on Hawaiian Electric Industries from $10.00 to $11.00 and gave the company an "equal weight" rating in a research report on Tuesday, March 4th. Evercore ISI raised shares of Hawaiian Electric Industries from an "in-line" rating to an "outperform" rating and lifted their price objective for the stock from $12.00 to $14.00 in a research report on Friday, March 7th. StockNews.com downgraded shares of Hawaiian Electric Industries from a "hold" rating to a "sell" rating in a research note on Tuesday, February 11th. Wells Fargo & Company upped their price target on Hawaiian Electric Industries from $11.00 to $12.50 and gave the stock an "equal weight" rating in a research report on Thursday, February 27th. Finally, Jefferies Financial Group lowered their price objective on Hawaiian Electric Industries from $11.50 to $10.50 and set a "hold" rating for the company in a research report on Friday, January 3rd. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $12.00.

Hawaiian Electric Industries 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.