Hawaiian Electric Industries, Inc. (NYSE:HE) Shares Purchased by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. increased its position in shares of Hawaiian Electric Industries, Inc. (NYSE:HE - Free Report) by 20.5% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,021,649 shares of the utilities provider's stock after buying an additional 514,989 shares during the quarter. Charles Schwab Investment Management Inc. owned about 2.74% of Hawaiian Electric Industries worth $29,250,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Seven Grand Managers LLC purchased a new position in shares of Hawaiian Electric Industries in the 3rd quarter valued at approximately $4,888,000. Bank of New York Mellon Corp boosted its stake in shares of Hawaiian Electric Industries by 23.2% in the second quarter. Bank of New York Mellon Corp now owns 638,156 shares of the utilities provider's stock valued at $5,756,000 after buying an additional 120,208 shares in the last quarter. Fernwood Investment Management LLC boosted its stake in shares of Hawaiian Electric Industries by 82.8% in the third quarter. Fernwood Investment Management LLC now owns 133,175 shares of the utilities provider's stock valued at $1,289,000 after buying an additional 60,335 shares in the last quarter. Diversified Trust Co purchased a new stake in shares of Hawaiian Electric Industries in the second quarter valued at approximately $372,000. Finally, International Assets Investment Management LLC boosted its stake in shares of Hawaiian Electric Industries by 789.8% in the third quarter. International Assets Investment Management LLC now owns 106,270 shares of the utilities provider's stock valued at $10,978,000 after buying an additional 94,327 shares in the last quarter. 59.91% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on HE. StockNews.com downgraded Hawaiian Electric Industries from a "hold" rating to a "sell" rating in a research note on Friday, October 4th. Evercore ISI reduced their price objective on Hawaiian Electric Industries from $11.00 to $10.00 and set an "in-line" rating for the company in a report on Tuesday, November 19th. Wells Fargo & Company reduced their price objective on Hawaiian Electric Industries from $14.00 to $11.50 and set an "equal weight" rating for the company in a report on Monday, September 30th. Finally, Jefferies Financial Group started coverage on Hawaiian Electric Industries in a report on Tuesday. They set a "hold" rating and a $11.50 price objective for the company.

Hawaiian Electric Industries Price Performance

Shares of NYSE HE traded up $0.14 during trading on Thursday, reaching $10.37. The company had a trading volume of 2,076,171 shares, compared to its average volume of 3,361,915. Hawaiian Electric Industries, Inc. has a twelve month low of $7.61 and a twelve month high of $18.19. The stock has a market capitalization of $1.79 billion, a PE ratio of -0.86 and a beta of 0.53. The stock has a 50-day moving average price of $10.12 and a two-hundred day moving average price of $11.13. 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 (NYSE:HE - Get Free Report) last released its quarterly earnings results on Friday, November 8th. The utilities provider reported $0.46 earnings per share for the quarter, missing analysts' consensus estimates 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 company had revenue of $983.38 million during the quarter. During the same period last year, the business posted $0.37 earnings per share. The firm's revenue was up 9.0% on a year-over-year basis.

About Hawaiian Electric Industries

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.