Keynote Financial Services LLC Makes New $230,000 Investment in Hawaiian Electric Industries, Inc. (NYSE:HE)

Keynote Financial Services LLC bought a new position in Hawaiian Electric Industries, Inc. (NYSE:HE) in the first quarter, according to the company in its most recent disclosure with the SEC. The fund bought 20,450 shares of the utilities provider’s stock, valued at approximately $230,000.

A number of other large investors have also added to or reduced their stakes in HE. Vanguard Group Inc. grew its position in shares of Hawaiian Electric Industries by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 11,059,244 shares of the utilities provider’s stock valued at $124,638,000 after acquiring an additional 160,815 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of 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 valued at $23,006,000 after acquiring an additional 285,955 shares during the period. Assenagon Asset Management S.A. grew its position in shares of Hawaiian Electric Industries by 10.1% during the 1st quarter. Assenagon Asset Management S.A. now owns 1,475,102 shares of the utilities provider’s stock valued at $16,624,000 after acquiring an additional 135,102 shares during the period. Verition Fund Management LLC bought a new stake in shares of Hawaiian Electric Industries during the 4th quarter valued at $8,944,000. Finally, BNP Paribas Financial Markets grew its position in shares of Hawaiian Electric Industries by 2,854.9% during the 4th quarter. BNP Paribas Financial Markets now owns 580,931 shares of the utilities provider’s stock valued at $8,243,000 after acquiring an additional 561,271 shares during the period. Institutional investors own 59.91% of the company’s stock.

Hawaiian Electric Industries Price Performance

HE stock traded down $0.64 during mid-day trading on Friday, hitting $16.06. The company had a trading volume of 2,902,516 shares, compared to its average volume of 6,899,259. The company has a market capitalization of $1.77 billion, a price-to-earnings ratio of 9.50 and a beta of 0.57. Hawaiian Electric Industries, Inc. has a 12-month low of $7.61 and a 12-month high of $38.63. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 1.19. The company has a 50-day moving average price of $11.35 and a 200 day moving average price of $11.53.

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

Analysts Set New Price Targets

HE has been the topic of a number of analyst reports. Wells Fargo & Company lifted their target price on shares of Hawaiian Electric Industries from $8.50 to $9.00 and gave the company an “underweight” rating in a research note on Monday, May 13th. StockNews.com cut shares of Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a research note on Tuesday, July 16th. Three research analysts have rated the stock with a sell rating and one has given a hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus price target of $11.63.

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.