Keynote Financial Services LLC bought a new position in Hawaiian Electric Industries, Inc. (NYSE:HE – Free Report) 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.
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.
Read Our Latest Stock Analysis on Hawaiian Electric Industries
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.
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