Legal & General Group Plc boosted its holdings in Hawaiian Electric Industries, Inc. (NYSE:HE - Free Report) by 9.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 492,238 shares of the utilities provider's stock after purchasing an additional 43,998 shares during the period. Legal & General Group Plc owned about 0.29% of Hawaiian Electric Industries worth $4,789,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Virtu Financial LLC bought a new position in Hawaiian Electric Industries during the third quarter worth about $821,000. Franklin Resources Inc. boosted its position in Hawaiian Electric Industries by 656.7% during the third quarter. Franklin Resources Inc. now owns 2,722,668 shares of the utilities provider's stock worth $27,499,000 after purchasing an additional 2,362,863 shares during the period. Charles Schwab Investment Management Inc. boosted its position 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 purchasing an additional 449,873 shares during the period. Mad River Investors acquired a new position in shares of Hawaiian Electric Industries in the fourth quarter valued at $1,171,000. Finally, Proficio Capital Partners LLC bought a new position in shares of Hawaiian Electric Industries in the fourth quarter valued at about $142,000. 59.91% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of research analysts recently commented on the stock. StockNews.com lowered shares of Hawaiian Electric Industries from a "hold" rating to a "sell" rating in a research note on Tuesday, February 11th. Evercore ISI raised Hawaiian Electric Industries from an "in-line" rating to an "outperform" rating and upped their target price for the company from $12.00 to $14.00 in a research report on Friday, March 7th. Barclays lifted their price target on Hawaiian Electric Industries from $10.00 to $11.00 and gave the stock an "equal weight" rating in a report on Tuesday, March 4th. Jefferies Financial Group decreased their price objective on Hawaiian Electric Industries from $11.50 to $10.50 and set a "hold" rating on the stock in a report on Friday, January 3rd. Finally, Wells Fargo & Company lifted their target price 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. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $12.00.
View Our Latest Research Report on HE
Hawaiian Electric Industries Price Performance
Shares of NYSE HE traded down $0.28 during midday trading on Friday, reaching $10.09. The company's stock had a trading volume of 1,185,395 shares, compared to its average volume of 3,482,867. The company has a market cap of $1.74 billion, a P/E ratio of -0.85 and a beta of 0.51. Hawaiian Electric Industries, Inc. has a fifty-two week low of $7.61 and a fifty-two week high of $18.19. 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 50 day moving average price is $10.61 and its two-hundred day moving average price is $10.12.
Hawaiian Electric Industries (NYSE:HE - Get Free Report) last released its earnings results on Friday, February 21st. The utilities provider reported $0.20 earnings per share for the quarter, missing analysts' consensus estimates 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 company had revenue of $799.18 million for the quarter. On average, analysts forecast that Hawaiian Electric Industries, Inc. will post 1.71 EPS for the current fiscal year.
Hawaiian Electric Industries Company Profile
(
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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