Vanguard Group Inc. Increases Position in Hawaiian Electric Industries, Inc. (NYSE:HE)

Vanguard Group Inc. grew its holdings in Hawaiian Electric Industries, Inc. (NYSE:HE - Free Report) by 6.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,231,969 shares of the utilities provider's stock after purchasing an additional 1,112,150 shares during the period. Vanguard Group Inc. owned about 10.57% of Hawaiian Electric Industries worth $177,397,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Blue Trust Inc. grew its stake in 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 purchasing an additional 2,062 shares in the last quarter. R Squared Ltd purchased a new stake in shares of Hawaiian Electric Industries in the 4th quarter worth $36,000. Quarry LP grew 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 worth $44,000 after buying an additional 2,748 shares in the last quarter. Jones Financial Companies Lllp increased its stake in shares of Hawaiian Electric Industries by 63.9% during the fourth quarter. Jones Financial Companies Lllp now owns 4,844 shares of the utilities provider's stock valued at $47,000 after buying an additional 1,889 shares during the period. Finally, Amalgamated Bank raised its holdings in shares of Hawaiian Electric Industries by 50.9% in the fourth quarter. Amalgamated Bank now owns 5,650 shares of the utilities provider's stock valued at $55,000 after acquiring an additional 1,905 shares in the last quarter. 59.91% of the stock is currently owned by institutional investors.

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Analyst Ratings Changes

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

Hawaiian Electric Industries Stock Up 2.6 %

Shares of HE traded up $0.25 during midday trading on Friday, hitting $9.68. 1,539,585 shares of the company's stock traded hands, compared to its average volume of 3,554,840. 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 market capitalization of $1.67 billion, a price-to-earnings ratio of -0.82 and a beta of 0.51. Hawaiian Electric Industries, Inc. has a 1 year low of $7.61 and a 1 year high of $18.19. The firm's fifty day moving average is $10.55 and its 200-day moving average is $10.07.

Hawaiian Electric Industries (NYSE:HE - Get Free Report) last released its quarterly earnings results on Friday, February 21st. The utilities provider reported $0.20 EPS 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 business had revenue of $799.18 million during the quarter. As a group, sell-side analysts anticipate that Hawaiian Electric Industries, Inc. will post 1.71 earnings per share for the current year.

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.