Quantbot Technologies LP Acquires 283,722 Shares of Hawaiian Electric Industries, Inc. (NYSE:HE)

Quantbot Technologies LP lifted its stake in shares of Hawaiian Electric Industries, Inc. (NYSE:HE - Free Report) by 195.8% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 428,646 shares of the utilities provider's stock after acquiring an additional 283,722 shares during the period. Quantbot Technologies LP owned approximately 0.25% of Hawaiian Electric Industries worth $4,171,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Oppenheimer & Co. Inc. increased its position in shares of Hawaiian Electric Industries by 5.7% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 32,775 shares of the utilities provider's stock valued at $317,000 after purchasing an additional 1,775 shares during the last quarter. KBC Group NV grew its position 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 valued at $38,000 after acquiring an additional 1,021 shares during the last quarter. Thrivent Financial for Lutherans bought a new position in Hawaiian Electric Industries during the third quarter valued at approximately $2,233,000. Quest Partners LLC raised its stake in shares of Hawaiian Electric Industries by 126.1% during the third quarter. Quest Partners LLC now owns 7,983 shares of the utilities provider's stock worth $77,000 after acquiring an additional 4,453 shares in the last quarter. Finally, Intech Investment Management LLC bought a new stake in shares of Hawaiian Electric Industries in the 3rd quarter worth approximately $239,000. 59.91% of the stock is currently owned by hedge funds and other institutional investors.

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Wall Street Analyst Weigh In

HE has been the topic of a number of analyst reports. Evercore ISI upgraded shares of Hawaiian Electric Industries from an "in-line" rating to an "outperform" rating and lifted their target price for the stock from $12.00 to $14.00 in a research report on Friday, March 7th. Wells Fargo & Company lifted their price objective on Hawaiian Electric Industries from $11.00 to $12.50 and gave the stock an "equal weight" rating in a report on Thursday, February 27th. StockNews.com lowered Hawaiian Electric Industries from a "hold" rating to a "sell" rating in a research report on Tuesday, February 11th. Jefferies Financial Group lowered their price objective on Hawaiian Electric Industries from $11.50 to $10.50 and set a "hold" rating for the company in a research report on Friday, January 3rd. Finally, Barclays increased their price objective 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. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $12.00.

Hawaiian Electric Industries Trading Up 1.1 %

Shares of NYSE HE traded up $0.12 during trading hours on Wednesday, hitting $10.95. The company's stock had a trading volume of 1,350,658 shares, compared to its average volume of 3,469,169. The business has a 50-day simple moving average of $10.22 and a 200-day simple moving average of $10.16. The stock has a market cap of $1.89 billion, a price-to-earnings ratio of -0.93 and a beta of 0.46. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.18 and a current ratio of 0.18. Hawaiian Electric Industries, Inc. has a 12 month low of $7.61 and a 12 month high of $18.19.

Hawaiian Electric Industries (NYSE:HE - Get Free Report) last posted its earnings results on Friday, February 21st. The utilities provider reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.19). Hawaiian Electric Industries had a negative net margin of 35.38% and a positive return on equity of 11.12%. The business had revenue of $799.18 million for the quarter. On average, analysts anticipate that Hawaiian Electric Industries, Inc. will post 1.71 earnings per share for the current fiscal year.

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.