Edgestream Partners L.P. Acquires New Shares in Hawaiian Electric Industries, Inc. (NYSE:HE)

Edgestream Partners L.P. purchased a new position in shares of Hawaiian Electric Industries, Inc. (NYSE:HE - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 181,799 shares of the utilities provider's stock, valued at approximately $1,769,000. Edgestream Partners L.P. owned 0.11% of Hawaiian Electric Industries as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Blue Trust Inc. raised its stake in shares of Hawaiian Electric Industries by 203.0% during the 4th quarter. Blue Trust Inc. now owns 3,078 shares of the utilities provider's stock valued at $30,000 after buying an additional 2,062 shares during the last quarter. R Squared Ltd purchased a new position in shares of Hawaiian Electric Industries during the 4th quarter valued at about $36,000. KBC Group NV raised its stake in shares of Hawaiian Electric Industries by 34.8% during the 3rd quarter. KBC Group NV now owns 3,956 shares of the utilities provider's stock valued at $38,000 after buying an additional 1,021 shares during the last quarter. Quarry LP increased its stake in shares of Hawaiian Electric Industries by 156.6% in the 3rd quarter. Quarry LP now owns 4,503 shares of the utilities provider's stock valued at $44,000 after purchasing an additional 2,748 shares in the last quarter. Finally, Jones Financial Companies Lllp increased its stake in shares of Hawaiian Electric Industries by 63.9% in the 4th quarter. Jones Financial Companies Lllp now owns 4,844 shares of the utilities provider's stock valued at $47,000 after purchasing an additional 1,889 shares in the last quarter. Institutional investors and hedge funds own 59.91% of the company's stock.

Remove Ads

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Barclays lifted their price target on Hawaiian Electric Industries from $10.00 to $11.00 and gave the company an "equal weight" rating in a research note on Tuesday, March 4th. Wells Fargo & Company lifted their price target on Hawaiian Electric Industries from $11.00 to $12.50 and gave the company an "equal weight" rating in a research note on Thursday, February 27th. Evercore ISI upgraded Hawaiian Electric Industries from an "in-line" rating to an "outperform" rating and lifted their price target for the company from $12.00 to $14.00 in a research note on Friday, March 7th. StockNews.com lowered Hawaiian Electric Industries from a "hold" rating to a "sell" rating in a research note on Tuesday, February 11th. Finally, Jefferies Financial Group cut their price objective on 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. One equities 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. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $12.00.

Hawaiian Electric Industries Price Performance

NYSE:HE traded up $0.35 during trading hours on Friday, hitting $11.25. 1,839,448 shares of the stock were exchanged, compared to its average volume of 3,464,655. Hawaiian Electric Industries, Inc. has a 52-week low of $7.61 and a 52-week high of $18.19. The firm's fifty day moving average price is $9.85 and its 200 day moving average price is $10.18. The company has a current ratio of 0.18, a quick ratio of 0.18 and a debt-to-equity ratio of 1.80. The company has a market cap of $1.94 billion, a P/E ratio of -0.95 and a beta of 0.46.

Hawaiian Electric Industries (NYSE:HE - Get Free Report) last issued its earnings results on Friday, February 21st. The utilities provider reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.19). The company 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%. As a group, equities research analysts anticipate that Hawaiian Electric Industries, Inc. will post 1.71 EPS for the current fiscal year.

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.