2,843 Shares in Hawaiian Electric Industries, Inc. (NYSE:HE) Bought by New Covenant Trust Company N.A.

New Covenant Trust Company N.A. purchased a new stake in Hawaiian Electric Industries, Inc. (NYSE:HE) in the first quarter, HoldingsChannel reports. The firm purchased 2,843 shares of the utilities provider’s stock, valued at approximately $32,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Verition Fund Management LLC acquired a new position in Hawaiian Electric Industries during the fourth quarter worth about $8,944,000. BNP Paribas Financial Markets raised its holdings in shares of Hawaiian Electric Industries by 2,854.9% in the fourth quarter. BNP Paribas Financial Markets now owns 580,931 shares of the utilities provider’s stock worth $8,243,000 after acquiring an additional 561,271 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Hawaiian Electric Industries by 21.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,621,304 shares of the utilities provider’s stock worth $23,006,000 after purchasing an additional 285,955 shares in the last quarter. International Assets Investment Management LLC raised its stake in Hawaiian Electric Industries by 1,439.8% in the 4th quarter. International Assets Investment Management LLC now owns 180,867 shares of the utilities provider’s stock valued at $2,567,000 after purchasing an additional 169,121 shares during the last quarter. Finally, Wellington Management Group LLP acquired a new stake in shares of Hawaiian Electric Industries during the 4th quarter worth about $2,370,000. Institutional investors and hedge funds own 59.91% of the company’s stock.

Hawaiian Electric Industries Trading Down 3.8 %

Hawaiian Electric Industries stock traded down $0.64 during midday trading on Friday, reaching $16.06. The stock had a trading volume of 2,893,531 shares, compared to its average volume of 3,108,482. The stock’s 50-day simple moving average is $11.25 and its 200 day simple moving average is $11.53. Hawaiian Electric Industries, Inc. has a twelve month low of $7.61 and a twelve month high of $38.63. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.11 and a current ratio of 0.11. The stock has a market capitalization of $1.77 billion, a PE ratio of 9.88 and a beta of 0.56.

Hawaiian Electric Industries (NYSE:HE) last issued its earnings results on Friday, May 10th. The utilities provider reported $0.45 earnings per share (EPS) for the quarter. Hawaiian Electric Industries had a return on equity of 9.58% and a net margin of 5.16%. The business had revenue of $897.16 million during the quarter.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. StockNews.com lowered shares of Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a research report on Tuesday, July 16th. Wells Fargo & Company lifted their price objective on Hawaiian Electric Industries from $8.50 to $9.00 and gave the company an “underweight” rating in a research report on Monday, May 13th. Three research analysts have rated the stock with a sell rating and one has assigned a hold rating to the company. Based on data from MarketBeat.com, Hawaiian Electric Industries presently has a consensus rating of “Reduce” and an average price target of $11.63.

Hawaiian Electric Industries Company 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.