MetLife Investment Management LLC Acquires 67,020 Shares of Hawaiian Electric Industries, Inc. (NYSE:HE)

MetLife Investment Management LLC raised its stake in Hawaiian Electric Industries, Inc. (NYSE:HE - Free Report) by 239.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 94,991 shares of the utilities provider's stock after acquiring an additional 67,020 shares during the period. MetLife Investment Management LLC owned approximately 0.09% of Hawaiian Electric Industries worth $920,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of HE. KBC Group NV increased its holdings in shares of Hawaiian Electric Industries by 34.8% during the third quarter. KBC Group NV now owns 3,956 shares of the utilities provider's stock worth $38,000 after buying an additional 1,021 shares in the last quarter. UMB Bank n.a. acquired a new position in Hawaiian Electric Industries in the 3rd quarter worth about $42,000. Signaturefd LLC raised its position in Hawaiian Electric Industries by 30.8% in the second quarter. Signaturefd LLC now owns 8,437 shares of the utilities provider's stock valued at $76,000 after purchasing an additional 1,986 shares during the last quarter. Quest Partners LLC boosted 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 valued at $77,000 after purchasing an additional 4,453 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of Hawaiian Electric Industries by 82.3% during the second quarter. GAMMA Investing LLC now owns 9,540 shares of the utilities provider's stock valued at $86,000 after purchasing an additional 4,308 shares in the last quarter. Institutional investors and hedge funds own 59.91% of the company's stock.

Hawaiian Electric Industries Price Performance

Shares of NYSE:HE traded up $0.29 during mid-day trading on Friday, hitting $10.66. The company had a trading volume of 1,945,917 shares, compared to its average volume of 2,772,471. Hawaiian Electric Industries, Inc. has a one year low of $7.61 and a one year high of $18.19. The firm has a fifty day moving average price of $10.14 and a 200 day moving average price of $11.12. 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 (NYSE:HE - Get Free Report) last announced its quarterly earnings results on Friday, November 8th. The utilities provider reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.07). The firm had revenue of $983.38 million during the quarter. Hawaiian Electric Industries had a positive return on equity of 11.12% and a negative net margin of 35.38%. The business's quarterly revenue was up 9.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.37 EPS. Sell-side analysts anticipate that Hawaiian Electric Industries, Inc. will post 1.71 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.