Evercore Wealth Management LLC Takes Position in Hawaiian Electric Industries, Inc. (NYSE:HE)

Evercore Wealth Management LLC bought 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 SEC. The institutional investor bought 25,000 shares of the utilities provider's stock, valued at approximately $243,000.

A number of other institutional investors have also modified their holdings of the stock. Blue Trust Inc. grew its holdings in Hawaiian Electric Industries by 203.0% during the 4th quarter. Blue Trust Inc. now owns 3,078 shares of the utilities provider's stock worth $30,000 after acquiring an additional 2,062 shares in the last quarter. R Squared Ltd purchased a new stake in shares of Hawaiian Electric Industries in the 4th quarter worth approximately $36,000. Jones Financial Companies Lllp boosted its stake in shares of Hawaiian Electric Industries by 63.9% during the fourth 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. Sterling Capital Management LLC increased its holdings in Hawaiian Electric Industries by 816.0% during the fourth quarter. Sterling Capital Management LLC now owns 5,221 shares of the utilities provider's stock valued at $51,000 after buying an additional 4,651 shares during the period. Finally, Amalgamated Bank raised its stake in Hawaiian Electric Industries by 50.9% in the fourth quarter. Amalgamated Bank now owns 5,650 shares of the utilities provider's stock worth $55,000 after buying an additional 1,905 shares in the last quarter. 59.91% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Barclays raised their price objective 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. Jefferies Financial Group lowered their target price 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. Evercore ISI raised Hawaiian Electric Industries from an "in-line" rating to an "outperform" rating and upped their price target for the stock from $12.00 to $14.00 in a research report on Friday, March 7th. Wells Fargo & Company raised their price objective 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, StockNews.com lowered Hawaiian Electric Industries from a "hold" rating to a "sell" rating in a research report on Tuesday, February 11th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Hawaiian Electric Industries currently has an average rating of "Hold" and an average price target of $12.00.

Hawaiian Electric Industries Stock Performance

NYSE:HE traded down $0.29 during trading hours on Friday, hitting $10.07. 1,634,353 shares of the company were exchanged, compared to its average volume of 3,475,579. Hawaiian Electric Industries, Inc. has a 52-week low of $7.61 and a 52-week high of $18.19. The company's 50 day moving average price is $10.60 and its 200-day moving average price is $10.12. 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 has a market capitalization of $1.74 billion, a price-to-earnings ratio of -0.85 and a beta of 0.51.

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 (EPS) for the quarter, missing analysts' consensus estimates of $0.39 by ($0.19). Hawaiian Electric Industries had a positive return on equity of 11.12% and a negative net margin of 35.38%. The firm had revenue of $799.18 million during the quarter. As a group, research analysts forecast that Hawaiian Electric Industries, Inc. will post 1.71 earnings per share for the current year.

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.