Franklin Resources Inc. lifted its holdings in Hawaiian Electric Industries, Inc. (NYSE:HE - Free Report) by 656.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,722,668 shares of the utilities provider's stock after buying an additional 2,362,863 shares during the period. Franklin Resources Inc. owned approximately 1.58% of Hawaiian Electric Industries worth $27,499,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. KBC Group NV boosted its stake in Hawaiian Electric Industries by 34.8% during the third quarter. KBC Group NV now owns 3,956 shares of the utilities provider's stock worth $38,000 after buying an additional 1,021 shares during the last quarter. UMB Bank n.a. acquired a new position in shares of Hawaiian Electric Industries during the 3rd quarter valued at about $42,000. Quarry LP boosted its position in shares of Hawaiian Electric Industries by 156.6% during the 3rd quarter. Quarry LP now owns 4,503 shares of the utilities provider's stock valued at $44,000 after acquiring an additional 2,748 shares during the last quarter. Millburn Ridgefield Corp purchased a new stake in shares of Hawaiian Electric Industries in the third quarter valued at about $55,000. Finally, Signaturefd LLC increased its position in Hawaiian Electric Industries by 30.8% during the second quarter. Signaturefd LLC now owns 8,437 shares of the utilities provider's stock worth $76,000 after purchasing an additional 1,986 shares during the last quarter. 59.91% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several equities research analysts have issued reports on the company. StockNews.com raised Hawaiian Electric Industries from a "sell" rating to a "hold" rating in a research note on Tuesday. Wells Fargo & Company reduced their price objective on shares of Hawaiian Electric Industries from $14.00 to $11.50 and set an "equal weight" rating on the stock in a report on Monday, September 30th. Evercore ISI lowered their target price 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. Finally, Jefferies Financial Group assumed coverage on shares of Hawaiian Electric Industries in a research report on Tuesday, December 3rd. They set a "hold" rating and a $11.50 price target for the company.
Check Out Our Latest Report on HE
Hawaiian Electric Industries Stock Up 0.8 %
Shares of Hawaiian Electric Industries stock traded up $0.08 on Thursday, reaching $9.70. 3,564,200 shares of the company were exchanged, compared to its average volume of 3,344,696. The stock's 50 day moving average price is $10.24 and its 200-day moving average price is $11.10. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.18 and a quick ratio of 0.18. Hawaiian Electric Industries, Inc. has a 1-year low of $7.61 and a 1-year high of $18.19. The company has a market cap of $1.67 billion, a P/E ratio of -0.82 and a beta of 0.53.
Hawaiian Electric Industries (NYSE:HE - Get Free Report) last released its quarterly earnings data on Friday, November 8th. The utilities provider reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.07). 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 $983.38 million for the quarter. During the same period in the prior year, the business posted $0.37 earnings per share. The company's revenue was up 9.0% on a year-over-year basis. As a group, equities analysts forecast that Hawaiian Electric Industries, Inc. will post 1.71 EPS for the current year.
About Hawaiian Electric Industries
(
Free Report)
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.
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