Raymond James Financial Inc. acquired a new stake in shares of Hawaiian Electric Industries, Inc. (NYSE:HE - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 35,152 shares of the utilities provider's stock, valued at approximately $342,000.
Other hedge funds have also recently modified their holdings of the company. Arizona State Retirement System grew its holdings in Hawaiian Electric Industries by 50.2% during the 4th quarter. Arizona State Retirement System now owns 47,699 shares of the utilities provider's stock valued at $464,000 after buying an additional 15,937 shares in the last quarter. Aigen Investment Management LP purchased a new position in shares of Hawaiian Electric Industries in the fourth quarter valued at $203,000. Proficio Capital Partners LLC bought a new stake in Hawaiian Electric Industries in the fourth quarter worth $142,000. Charles Schwab Investment Management Inc. lifted 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 valued at $33,778,000 after purchasing an additional 449,873 shares during the last quarter. Finally, SBI Securities Co. Ltd. purchased a new stake in shares of Hawaiian Electric Industries during the 4th quarter valued at about $104,000. Hedge funds and other institutional investors own 59.91% of the company's stock.
Hawaiian Electric Industries Stock Up 1.4 %
Shares of Hawaiian Electric Industries stock traded up $0.14 during trading on Tuesday, reaching $10.19. The company's stock had a trading volume of 172,561 shares, compared to its average volume of 3,542,746. Hawaiian Electric Industries, Inc. has a 1-year low of $7.61 and a 1-year high of $18.19. The company has a market cap of $1.76 billion, a price-to-earnings ratio of -0.86 and a beta of 0.51. The company has a quick ratio of 0.18, a current ratio of 0.18 and a debt-to-equity ratio of 1.80. The company has a 50-day simple moving average of $10.56 and a two-hundred day simple moving average of $10.08.
Hawaiian Electric Industries (NYSE:HE - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $799.18 million during the quarter. As a group, equities analysts forecast that Hawaiian Electric Industries, Inc. will post 1.71 earnings per share for the current year.
Analyst Ratings Changes
A number of research analysts have weighed in on HE shares. Barclays boosted their price objective on shares of Hawaiian Electric Industries from $10.00 to $11.00 and gave the company an "equal weight" rating in a research report on Tuesday, March 4th. Jefferies Financial Group decreased their price objective on shares of Hawaiian Electric Industries from $11.50 to $10.50 and set a "hold" rating for the company in a research note on Friday, January 3rd. StockNews.com cut Hawaiian Electric Industries from a "hold" rating to a "sell" rating in a research note on Tuesday, February 11th. Wells Fargo & Company increased their target price on Hawaiian Electric Industries from $11.00 to $12.50 and gave the stock an "equal weight" rating in a research note on Thursday, February 27th. Finally, Evercore ISI upgraded shares of Hawaiian Electric Industries from an "in-line" rating to an "outperform" rating and lifted their price objective for the company from $12.00 to $14.00 in a report on Friday, March 7th. 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.com, Hawaiian Electric Industries currently has an average rating of "Hold" and a consensus target price of $12.00.
Read Our Latest Stock Report on HE
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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