Millennium Management LLC Increases Holdings in Hawaiian Electric Industries, Inc. (NYSE:HE)

Millennium Management LLC grew its stake in shares of Hawaiian Electric Industries, Inc. (NYSE:HE - Free Report) by 79.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,870,088 shares of the utilities provider's stock after buying an additional 825,073 shares during the period. Millennium Management LLC owned 1.70% of Hawaiian Electric Industries worth $16,868,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. Abich Financial Wealth Management LLC increased its stake in Hawaiian Electric Industries by 54.4% during the first quarter. Abich Financial Wealth Management LLC now owns 3,226 shares of the utilities provider's stock worth $36,000 after acquiring an additional 1,137 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its stake in Hawaiian Electric Industries by 17.0% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 12,172 shares of the utilities provider's stock worth $137,000 after buying an additional 1,766 shares during the period. Signaturefd LLC lifted its holdings in Hawaiian Electric Industries by 30.8% during the 2nd quarter. Signaturefd LLC now owns 8,437 shares of the utilities provider's stock valued at $76,000 after buying an additional 1,986 shares in the last quarter. Van ECK Associates Corp boosted its position in Hawaiian Electric Industries by 9.5% in the 2nd quarter. Van ECK Associates Corp now owns 28,481 shares of the utilities provider's stock valued at $257,000 after buying an additional 2,482 shares during the period. Finally, New Covenant Trust Company N.A. bought a new position in Hawaiian Electric Industries in the 1st quarter worth about $32,000. Hedge funds and other institutional investors own 59.91% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. StockNews.com downgraded shares of Hawaiian Electric Industries from a "hold" rating to a "sell" rating in a research note on Friday. Evercore ISI decreased their target price on Hawaiian Electric Industries from $16.00 to $9.00 and set an "in-line" rating for the company in a research report on Tuesday, September 24th. Finally, Wells Fargo & Company lowered their target price 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.

Hawaiian Electric Industries Stock Down 0.1 %

Shares of NYSE:HE traded down $0.01 on Friday, reaching $9.76. The company had a trading volume of 3,007,473 shares, compared to its average volume of 3,452,722. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 2.62. The firm has a market capitalization of $1.08 billion, a PE ratio of 5.78 and a beta of 0.54. Hawaiian Electric Industries, Inc. has a 52-week low of $7.61 and a 52-week high of $18.19. The firm's 50 day simple moving average is $12.26 and its 200-day simple moving average is $11.29.

Hawaiian Electric Industries (NYSE:HE - Get Free Report) last released its quarterly earnings results on Friday, August 9th. The utilities provider reported $0.44 earnings per share for the quarter, missing analysts' consensus estimates of $0.49 by ($0.05). Hawaiian Electric Industries had a negative net margin of 31.76% and a positive return on equity of 10.69%. The firm had revenue of $792.30 million during the quarter. The company's revenue was down .2% compared to the same quarter last year.

Hawaiian Electric Industries Profile

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.