AlphaQuest LLC raised its holdings in shares of Hawaiian Electric Industries, Inc. (NYSE:HE - Free Report) by 304.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 32,250 shares of the utilities provider's stock after buying an additional 24,267 shares during the quarter. AlphaQuest LLC's holdings in Hawaiian Electric Industries were worth $314,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. Zimmer Partners LP bought a new position in Hawaiian Electric Industries during the third quarter valued at about $145,200,000. FMR LLC raised its stake in shares of Hawaiian Electric Industries by 7,986.3% in the third quarter. FMR LLC now owns 5,340,679 shares of the utilities provider's stock valued at $51,698,000 after purchasing an additional 5,274,633 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Hawaiian Electric Industries by 49.3% in the third quarter. Geode Capital Management LLC now owns 3,793,142 shares of the utilities provider's stock valued at $36,725,000 after purchasing an additional 1,253,143 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Hawaiian Electric Industries by 14.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,471,522 shares of the utilities provider's stock worth $33,778,000 after buying an additional 449,873 shares in the last quarter. Finally, State Street Corp boosted its stake in Hawaiian Electric Industries by 19.8% during the third quarter. State Street Corp now owns 3,368,096 shares of the utilities provider's stock worth $32,603,000 after buying an additional 556,747 shares in the last quarter. 59.91% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
Several brokerages have recently weighed in on HE. Wells Fargo & Company lifted their target price on shares of Hawaiian Electric Industries from $11.00 to $12.50 and gave the company an "equal weight" rating in a research report on Thursday, February 27th. Evercore ISI upgraded Hawaiian Electric Industries from an "in-line" rating to an "outperform" rating and upped their price objective for the company from $12.00 to $14.00 in a research note on Friday, March 7th. Jefferies Financial Group cut their target price 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. Barclays upped their price target 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. Finally, StockNews.com downgraded shares of Hawaiian Electric Industries from a "hold" rating to a "sell" rating in a research note 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 assigned a buy rating to the company's stock. According to MarketBeat.com, Hawaiian Electric Industries currently has an average rating of "Hold" and an average price target of $12.00.
Check Out Our Latest Report on Hawaiian Electric Industries
Hawaiian Electric Industries Price Performance
Hawaiian Electric Industries stock traded down $0.16 on Tuesday, reaching $11.00. The company's stock had a trading volume of 1,733,023 shares, compared to its average volume of 3,454,666. Hawaiian Electric Industries, Inc. has a twelve month low of $7.61 and a twelve month high of $18.19. The company has a market cap of $1.90 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. The business's fifty day moving average price is $9.93 and its 200 day moving average price is $10.17.
Hawaiian Electric Industries (NYSE:HE - Get Free Report) last issued its quarterly 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 firm had revenue of $799.18 million for the quarter. Equities analysts expect that Hawaiian Electric Industries, Inc. will post 1.71 earnings per share for the current fiscal 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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