Hawaiian Electric Industries, Inc. (NYSE:HE) Stock Position Raised by AlphaQuest LLC

AlphaQuest LLC increased its position in Hawaiian Electric Industries, Inc. (NYSE:HE) by 304.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 32,250 shares of the utilities provider’s stock after purchasing an additional 24,267 shares during the period. AlphaQuest LLC’s holdings in Hawaiian Electric Industries were worth $314,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in HE. Virtu Financial LLC purchased a new position in shares of Hawaiian Electric Industries during the third quarter valued at $821,000. FORA Capital LLC acquired a new stake in Hawaiian Electric Industries during the 3rd quarter worth about $692,000. Franklin Resources Inc. grew its stake in Hawaiian Electric Industries by 656.7% during the 3rd quarter. Franklin Resources Inc. now owns 2,722,668 shares of the utilities provider’s stock valued at $27,499,000 after acquiring an additional 2,362,863 shares in the last quarter. FMR LLC increased its holdings in shares of 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 valued at $51,698,000 after purchasing an additional 5,274,633 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Hawaiian Electric Industries by 20.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,021,649 shares of the utilities provider’s stock worth $29,250,000 after purchasing an additional 514,989 shares in the last quarter. 59.91% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Hawaiian Electric Industries Price Performance

NYSE HE opened at $11.25 on Friday. The firm has a market cap of $1.94 billion, a P/E ratio of -0.95 and a beta of 0.46. The stock’s 50-day moving average is $9.89 and its two-hundred day moving average is $10.18. Hawaiian Electric Industries, Inc. has a fifty-two week low of $7.61 and a fifty-two week high of $18.19. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.18 and a quick ratio of 0.18.

Hawaiian Electric Industries (NYSE:HE) last announced its earnings results on Friday, February 21st. The utilities provider reported $0.20 EPS for the quarter, missing the consensus estimate 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 firm had revenue of $799.18 million during the quarter. On average, analysts anticipate that Hawaiian Electric Industries, Inc. will post 1.71 earnings per share for the current fiscal year.

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.