Geode Capital Management LLC Boosts Holdings in Hawaiian Electric Industries, Inc. (NYSE:HE)

Geode Capital Management LLC lifted its holdings in shares of Hawaiian Electric Industries, Inc. (NYSE:HE - Free Report) by 49.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 3,793,142 shares of the utilities provider's stock after purchasing an additional 1,253,143 shares during the period. Geode Capital Management LLC owned about 3.44% of Hawaiian Electric Industries worth $36,725,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in the business. Barclays PLC increased its stake in Hawaiian Electric Industries by 48.5% in the 3rd quarter. Barclays PLC now owns 255,618 shares of the utilities provider's stock worth $2,475,000 after purchasing an additional 83,496 shares during the period. Y Intercept Hong Kong Ltd bought a new position in shares of Hawaiian Electric Industries in the third quarter worth approximately $316,000. XTX Topco Ltd purchased a new position in shares of Hawaiian Electric Industries in the third quarter worth $143,000. Zimmer Partners LP bought a new stake in Hawaiian Electric Industries during the 3rd quarter valued at $145,200,000. Finally, Wexford Capital LP bought a new stake in Hawaiian Electric Industries in the 3rd quarter worth $3,934,000. Hedge funds and other institutional investors own 59.91% of the company's stock.

Hawaiian Electric Industries Stock Down 0.4 %

Hawaiian Electric Industries stock traded down $0.04 on Wednesday, hitting $9.86. 987,780 shares of the stock traded hands, compared to its average volume of 3,350,836. Hawaiian Electric Industries, Inc. has a 1 year low of $7.61 and a 1 year high of $18.19. The firm has a market cap of $1.70 billion, a P/E ratio of -0.83 and a beta of 0.53. 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 business's fifty day simple moving average is $10.23 and its 200 day simple moving average is $11.08.

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 business had revenue of $983.38 million for the quarter. Hawaiian Electric Industries had a negative net margin of 35.38% and a positive return on equity of 11.12%. Hawaiian Electric Industries's revenue for the quarter was up 9.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.37 earnings per share. As a group, sell-side analysts forecast that Hawaiian Electric Industries, Inc. will post 1.71 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on HE. Wells Fargo & Company lowered their price objective 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. Evercore ISI dropped 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 report on Tuesday, November 19th. StockNews.com upgraded shares of Hawaiian Electric Industries from a "sell" rating to a "hold" rating in a research report on Tuesday, December 17th. Finally, Jefferies Financial Group began coverage on shares of Hawaiian Electric Industries in a report on Tuesday, December 3rd. They issued a "hold" rating and a $11.50 price objective for the company.

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.