Virtu Financial LLC reduced its position in shares of Hawaiian Electric Industries, Inc. (NYSE:HE - Free Report) by 75.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,052 shares of the utilities provider's stock after selling 63,807 shares during the period. Virtu Financial LLC's holdings in Hawaiian Electric Industries were worth $205,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of HE. Quest Partners LLC increased its stake in Hawaiian Electric Industries by 126.1% in the third quarter. Quest Partners LLC now owns 7,983 shares of the utilities provider's stock valued at $77,000 after purchasing an additional 4,453 shares during the last quarter. Intech Investment Management LLC acquired a new position in shares of Hawaiian Electric Industries during the 3rd quarter valued at about $239,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Hawaiian Electric Industries by 20.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,021,649 shares of the utilities provider's stock worth $29,250,000 after acquiring an additional 514,989 shares during the period. FMR LLC boosted its position in shares of Hawaiian Electric Industries by 7,986.3% in the third quarter. FMR LLC now owns 5,340,679 shares of the utilities provider's stock worth $51,698,000 after acquiring an additional 5,274,633 shares during the last quarter. Finally, MetLife Investment Management LLC grew its holdings in Hawaiian Electric Industries by 239.6% in the third quarter. MetLife Investment Management LLC now owns 94,991 shares of the utilities provider's stock valued at $920,000 after purchasing an additional 67,020 shares during the period. 59.91% of the stock is currently owned by hedge funds and other institutional investors.
Hawaiian Electric Industries Stock Down 0.4 %
Shares of NYSE:HE traded down $0.04 during mid-day trading on Wednesday, hitting $10.92. 1,905,509 shares of the company traded hands, compared to its average volume of 3,528,280. The firm's 50 day simple moving average is $10.44 and its 200 day simple moving average is $10.16. The firm has a market cap of $1.88 billion, a P/E ratio of -0.92 and a beta of 0.46. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.18 and a current ratio of 0.18. Hawaiian Electric Industries, Inc. has a 52-week low of $7.61 and a 52-week high of $18.19.
Hawaiian Electric Industries (NYSE:HE - Get Free Report) last issued its quarterly earnings data on Friday, February 21st. The utilities provider reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate 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. On average, equities analysts anticipate that Hawaiian Electric Industries, Inc. will post 1.71 EPS for the current year.
Wall Street Analysts Forecast Growth
A number of equities analysts have weighed in on the stock. Wells Fargo & Company increased their price target on shares of 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. Jefferies Financial Group reduced their target price on Hawaiian Electric Industries from $11.50 to $10.50 and set a "hold" rating on the stock in a report on Friday, January 3rd. StockNews.com lowered Hawaiian Electric Industries from a "hold" rating to a "sell" rating in a research note on Tuesday, February 11th. Barclays lifted their price objective 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. Finally, Evercore ISI upgraded shares of Hawaiian Electric Industries from an "in-line" rating to an "outperform" rating and raised their price target for the company from $12.00 to $14.00 in a report on Friday, March 7th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $12.00.
View Our Latest Stock Analysis on HE
About Hawaiian Electric Industries
(
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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