RFG Bristol Wealth Advisors LLC Purchases New Position in Hawaiian Electric Industries, Inc. (NYSE:HE)

RFG Bristol Wealth Advisors LLC purchased a new position in Hawaiian Electric Industries, Inc. (NYSE:HE - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 29,410 shares of the utilities provider's stock, valued at approximately $286,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Blue Trust Inc. grew its holdings in shares of Hawaiian Electric Industries by 203.0% in the fourth quarter. Blue Trust Inc. now owns 3,078 shares of the utilities provider's stock worth $30,000 after acquiring an additional 2,062 shares during the period. R Squared Ltd bought a new stake in shares of Hawaiian Electric Industries during the 4th quarter valued at about $36,000. Quarry LP increased its position in shares of Hawaiian Electric Industries by 156.6% during the 3rd quarter. Quarry LP now owns 4,503 shares of the utilities provider's stock valued at $44,000 after purchasing an additional 2,748 shares during the last quarter. Jones Financial Companies Lllp lifted its stake in shares of Hawaiian Electric Industries by 63.9% in the 4th quarter. Jones Financial Companies Lllp now owns 4,844 shares of the utilities provider's stock worth $47,000 after purchasing an additional 1,889 shares during the period. Finally, Millburn Ridgefield Corp purchased a new position in shares of Hawaiian Electric Industries in the third quarter worth approximately $55,000. Institutional investors own 59.91% of the company's stock.

Hawaiian Electric Industries Trading Down 3.6 %

HE stock traded down $0.36 during trading on Monday, hitting $9.61. The company had a trading volume of 1,445,841 shares, compared to its average volume of 3,533,493. The company has a 50 day simple moving average of $10.48 and a 200-day simple moving average of $10.12. 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 52-week low of $7.61 and a 52-week high of $18.19. The firm has a market capitalization of $1.66 billion, a P/E ratio of -0.81 and a beta of 0.51.

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Hawaiian Electric Industries (NYSE:HE - Get Free Report) last issued its earnings results 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). The firm had revenue of $799.18 million for the quarter. Hawaiian Electric Industries had a negative net margin of 35.38% and a positive return on equity of 11.12%. As a group, research analysts forecast that Hawaiian Electric Industries, Inc. will post 1.71 earnings per share for the current fiscal year.

Analysts Set New Price Targets

HE has been the subject of a number of recent research reports. StockNews.com downgraded shares of Hawaiian Electric Industries from a "hold" rating to a "sell" rating in a research report on Tuesday, February 11th. Wells Fargo & Company raised their price objective on Hawaiian Electric Industries from $11.00 to $12.50 and gave the company an "equal weight" rating in a research report on Thursday, February 27th. Barclays increased their price target on Hawaiian Electric Industries from $10.00 to $11.00 and gave the company an "equal weight" rating in a research note on Tuesday, March 4th. Jefferies Financial Group reduced their price target on shares of Hawaiian Electric Industries from $11.50 to $10.50 and set a "hold" rating on the stock in a research report on Friday, January 3rd. Finally, Evercore ISI upgraded shares of Hawaiian Electric Industries from an "in-line" rating to an "outperform" rating and increased their price objective for the company from $12.00 to $14.00 in a research report on Friday, March 7th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Hawaiian Electric Industries presently has an average rating of "Hold" and a consensus target price of $12.00.

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.