Hawaiian Electric Industries, Inc. (NYSE:HE) Shares Bought by Fernwood Investment Management LLC

Fernwood Investment Management LLC boosted its stake in Hawaiian Electric Industries, Inc. (NYSE:HE - Free Report) by 82.8% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 133,175 shares of the utilities provider's stock after purchasing an additional 60,335 shares during the period. Fernwood Investment Management LLC owned about 0.12% of Hawaiian Electric Industries worth $1,289,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Abich Financial Wealth Management LLC boosted its stake in shares of Hawaiian Electric Industries by 54.4% in the first quarter. Abich Financial Wealth Management LLC now owns 3,226 shares of the utilities provider's stock valued at $36,000 after purchasing an additional 1,137 shares during the period. IMS Capital Management boosted its position in Hawaiian Electric Industries by 2.5% in the 2nd quarter. IMS Capital Management now owns 51,957 shares of the utilities provider's stock valued at $469,000 after buying an additional 1,257 shares during the period. CANADA LIFE ASSURANCE Co grew its stake in shares of Hawaiian Electric Industries by 17.0% in the first quarter. CANADA LIFE ASSURANCE Co now owns 12,172 shares of the utilities provider's stock worth $137,000 after acquiring an additional 1,766 shares in the last quarter. Signaturefd LLC increased its position in shares of Hawaiian Electric Industries by 30.8% during the second quarter. Signaturefd LLC now owns 8,437 shares of the utilities provider's stock worth $76,000 after acquiring an additional 1,986 shares during the period. Finally, Van ECK Associates Corp raised its stake in shares of Hawaiian Electric Industries by 9.5% in the second quarter. Van ECK Associates Corp now owns 28,481 shares of the utilities provider's stock valued at $257,000 after acquiring an additional 2,482 shares in the last quarter. Institutional investors and hedge funds own 59.91% of the company's stock.

Hawaiian Electric Industries Stock Performance

Shares of HE traded down $0.05 during mid-day trading on Friday, reaching $10.22. 3,667,474 shares of the company's stock were exchanged, compared to its average volume of 2,887,317. The company has a debt-to-equity ratio of 2.62, a current ratio of 0.11 and a quick ratio of 0.11. The stock has a market capitalization of $1.13 billion, a PE ratio of -0.97 and a beta of 0.53. The business's fifty day simple moving average is $10.48 and its 200-day simple moving average is $11.16. Hawaiian Electric Industries, Inc. has a 52-week low of $7.61 and a 52-week high of $18.19.

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

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on HE. Evercore ISI cut their target price on shares of Hawaiian Electric Industries from $16.00 to $9.00 and set an "in-line" rating on the stock in a research note on Tuesday, September 24th. Wells Fargo & Company cut their target price on shares of Hawaiian Electric Industries from $14.00 to $11.50 and set an "equal weight" rating on the stock in a research note on Monday, September 30th. Finally, StockNews.com lowered shares of Hawaiian Electric Industries from a "hold" rating to a "sell" rating in a research note on Friday, October 4th.

Hawaiian Electric Industries Company 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.