Hawaiian Electric Industries, Inc. (NYSE:HE) Stake Increased by Stifel Financial Corp

Stifel Financial Corp raised its stake in Hawaiian Electric Industries, Inc. (NYSE:HE - Free Report) by 763.4% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 341,663 shares of the utilities provider's stock after buying an additional 302,091 shares during the quarter. Stifel Financial Corp owned approximately 0.31% of Hawaiian Electric Industries worth $3,307,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of HE. FMR LLC grew its holdings in Hawaiian Electric Industries by 7,986.3% in the 3rd quarter. FMR LLC now owns 5,340,679 shares of the utilities provider's stock worth $51,698,000 after buying an additional 5,274,633 shares in the last quarter. AQR Capital Management LLC grew its stake in shares of Hawaiian Electric Industries by 52.8% in the second quarter. AQR Capital Management LLC now owns 6,693,424 shares of the utilities provider's stock worth $60,308,000 after purchasing an additional 2,312,950 shares in the last quarter. Millennium Management LLC increased its holdings in shares of Hawaiian Electric Industries by 79.0% during the second quarter. Millennium Management LLC now owns 1,870,088 shares of the utilities provider's stock valued at $16,868,000 after purchasing an additional 825,073 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Hawaiian Electric Industries by 20.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,021,649 shares of the utilities provider's stock valued at $29,250,000 after purchasing an additional 514,989 shares in the last quarter. Finally, Seven Grand Managers LLC acquired a new stake in Hawaiian Electric Industries in the third quarter worth about $4,888,000. Institutional investors and hedge funds own 59.91% of the company's stock.

Hawaiian Electric Industries Price Performance

HE stock traded down $0.56 on Wednesday, hitting $9.62. 4,846,254 shares of the company's stock traded hands, compared to its average volume of 3,343,770. The stock has a market cap of $1.66 billion, a price-to-earnings ratio of -0.81 and a beta of 0.53. Hawaiian Electric Industries, Inc. has a 1-year low of $7.61 and a 1-year high of $18.19. The company has a current ratio of 0.18, a quick ratio of 0.18 and a debt-to-equity ratio of 1.80. The stock has a fifty day moving average of $10.24 and a 200-day moving average of $11.11.

Hawaiian Electric Industries (NYSE:HE - Get Free Report) last announced its quarterly earnings data on Friday, November 8th. The utilities provider reported $0.46 EPS for the quarter, missing analysts' consensus estimates of $0.53 by ($0.07). The company had revenue of $983.38 million for the quarter. Hawaiian Electric Industries had a negative net margin of 35.38% and a positive return on equity of 11.12%. The business's revenue was up 9.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.37 EPS. On average, analysts forecast that Hawaiian Electric Industries, Inc. will post 1.71 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have commented on HE shares. Evercore ISI lowered their target price on shares of Hawaiian Electric Industries from $11.00 to $10.00 and set an "in-line" rating on the stock in a research note on Tuesday, November 19th. Wells Fargo & Company cut their target price on Hawaiian Electric Industries from $14.00 to $11.50 and set an "equal weight" rating for the company in a research report on Monday, September 30th. StockNews.com raised Hawaiian Electric Industries from a "sell" rating to a "hold" rating in a research note on Tuesday. Finally, Jefferies Financial Group began coverage on Hawaiian Electric Industries in a research note on Tuesday, December 3rd. They issued a "hold" rating and a $11.50 price objective on the stock.

About Hawaiian Electric Industries

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.