Wealthfront Advisers LLC bought a new stake in shares of Hawaiian Electric Industries, Inc. (NYSE:HE - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 28,117 shares of the utilities provider's stock, valued at approximately $274,000.
Several other institutional investors also recently made changes to their positions in HE. Zimmer Partners LP bought a new position in Hawaiian Electric Industries in the 3rd quarter worth approximately $145,200,000. FMR LLC lifted its position in 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 purchasing an additional 5,274,633 shares during the period. Geode Capital Management LLC lifted its position in Hawaiian Electric Industries by 49.3% in the third quarter. Geode Capital Management LLC now owns 3,793,142 shares of the utilities provider's stock worth $36,725,000 after purchasing an additional 1,253,143 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Hawaiian Electric Industries by 14.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,471,522 shares of the utilities provider's stock worth $33,778,000 after purchasing an additional 449,873 shares during the period. Finally, State Street Corp lifted its position in Hawaiian Electric Industries by 19.8% in the third quarter. State Street Corp now owns 3,368,096 shares of the utilities provider's stock worth $32,603,000 after purchasing an additional 556,747 shares during the period. 59.91% of the stock is owned by institutional investors.
Hawaiian Electric Industries Stock Down 0.9 %
Shares of NYSE HE traded down $0.11 during mid-day trading on Friday, reaching $10.98. The company had a trading volume of 3,592,980 shares, compared to its average volume of 3,131,839. Hawaiian Electric Industries, Inc. has a twelve month low of $7.61 and a twelve month high of $18.19. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.18 and a current ratio of 0.18. The stock has a market capitalization of $1.89 billion, a PE ratio of -0.93 and a beta of 0.46. The stock's 50 day moving average is $10.06 and its 200-day moving average is $10.19.
Hawaiian Electric Industries (NYSE:HE - Get Free Report) last posted its quarterly 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). Hawaiian Electric Industries had a positive return on equity of 11.12% and a negative net margin of 35.38%. The company had revenue of $799.18 million during the quarter. As a group, equities analysts anticipate that Hawaiian Electric Industries, Inc. will post 1.71 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
HE has been the subject of a number of recent research reports. Jefferies Financial Group cut their price objective on Hawaiian Electric Industries from $11.50 to $10.50 and set a "hold" rating for the company in a research report on Friday, January 3rd. StockNews.com downgraded Hawaiian Electric Industries from a "hold" rating to a "sell" rating in a research report on Tuesday, February 11th. Barclays increased their price objective on 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. Wells Fargo & Company increased 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. Finally, Evercore ISI raised shares of Hawaiian Electric Industries from an "in-line" rating to an "outperform" rating and boosted their target price for the company from $12.00 to $14.00 in a research note on Friday, March 7th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $12.00.
Check Out 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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