Quaero Capital S.A. Purchases New Stake in Hawaiian Electric Industries, Inc. (NYSE:HE)

Quaero Capital S.A. bought a new position in shares of Hawaiian Electric Industries, Inc. (NYSE:HE - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 35,010 shares of the utilities provider's stock, valued at approximately $341,000.

Several other large investors have also recently added to or reduced their stakes in HE. Truist Financial Corp grew its holdings in Hawaiian Electric Industries by 87.5% during the 2nd quarter. Truist Financial Corp now owns 44,326 shares of the utilities provider's stock worth $400,000 after acquiring an additional 20,680 shares in the last quarter. SG Americas Securities LLC raised its position in Hawaiian Electric Industries by 96.2% in the 3rd quarter. SG Americas Securities LLC now owns 37,347 shares of the utilities provider's stock valued at $362,000 after purchasing an additional 18,312 shares during the last quarter. Inspire Investing LLC raised its position in Hawaiian Electric Industries by 8.2% in the 3rd quarter. Inspire Investing LLC now owns 42,287 shares of the utilities provider's stock valued at $409,000 after purchasing an additional 3,215 shares during the last quarter. International Assets Investment Management LLC raised its position in Hawaiian Electric Industries by 789.8% in the 3rd quarter. International Assets Investment Management LLC now owns 106,270 shares of the utilities provider's stock valued at $10,978,000 after purchasing an additional 94,327 shares during the last quarter. Finally, IFM Investors Pty Ltd raised its position in Hawaiian Electric Industries by 42.9% in the 3rd quarter. IFM Investors Pty Ltd now owns 21,864 shares of the utilities provider's stock valued at $212,000 after purchasing an additional 6,562 shares during the last quarter. 59.91% of the stock is owned by hedge funds and other institutional investors.

Hawaiian Electric Industries Trading Up 1.5 %

Shares of HE traded up $0.16 during mid-day trading on Wednesday, hitting $10.84. The company had a trading volume of 4,589,266 shares, compared to its average volume of 3,189,896. The business's 50-day simple moving average is $9.53 and its 200-day simple moving average is $10.48. The company has a quick ratio of 0.18, a current ratio of 0.18 and a debt-to-equity ratio of 1.80. Hawaiian Electric Industries, Inc. has a 1-year low of $7.61 and a 1-year high of $18.19. The stock has a market cap of $1.87 billion, a PE ratio of -0.92 and a beta of 0.53.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. StockNews.com downgraded shares of Hawaiian Electric Industries from a "hold" rating to a "sell" rating in a research report on Tuesday, February 11th. Evercore ISI cut their price target on shares of Hawaiian Electric Industries from $11.00 to $10.00 and set an "in-line" rating for the company in a report on Tuesday, November 19th. Barclays started coverage on shares of Hawaiian Electric Industries in a research note on Thursday, February 6th. They issued an "equal weight" rating and a $10.00 price objective on the stock. Finally, Jefferies Financial Group lowered their price objective on shares of Hawaiian Electric Industries from $11.50 to $10.50 and set a "hold" rating on the stock in a research note on Friday, January 3rd. One analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $10.50.

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.