Franklin Resources Inc. Boosts Holdings in Hawaiian Electric Industries, Inc. (NYSE:HE)

Franklin Resources Inc. boosted its stake in Hawaiian Electric Industries, Inc. (NYSE:HE) by 656.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,722,668 shares of the utilities provider’s stock after acquiring an additional 2,362,863 shares during the period. Franklin Resources Inc. owned about 1.58% of Hawaiian Electric Industries worth $27,499,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of HE. Zimmer Partners LP acquired a new stake in shares of Hawaiian Electric Industries in the 3rd quarter valued at about $145,200,000. FMR LLC boosted its holdings in shares of 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 valued at $51,698,000 after acquiring an additional 5,274,633 shares during the period. AQR Capital Management LLC boosted its holdings in shares of Hawaiian Electric Industries by 52.8% in the second quarter. AQR Capital Management LLC now owns 6,693,424 shares of the utilities provider’s stock valued at $60,308,000 after acquiring an additional 2,312,950 shares during the period. Geode Capital Management LLC grew its position in shares of Hawaiian Electric Industries by 49.3% during the third quarter. Geode Capital Management LLC now owns 3,793,142 shares of the utilities provider’s stock worth $36,725,000 after acquiring an additional 1,253,143 shares during the last quarter. Finally, Millennium Management LLC increased its holdings in shares of Hawaiian Electric Industries by 79.0% in the 2nd quarter. Millennium Management LLC now owns 1,870,088 shares of the utilities provider’s stock valued at $16,868,000 after acquiring an additional 825,073 shares during the period. Institutional investors and hedge funds own 59.91% of the company’s stock.

Hawaiian Electric Industries Trading Down 5.5 %

Shares of Hawaiian Electric Industries stock opened at $9.62 on Thursday. The firm has a market cap of $1.66 billion, a price-to-earnings ratio of -0.81 and a beta of 0.53. Hawaiian Electric Industries, Inc. has a 52-week low of $7.61 and a 52-week high of $18.19. The company’s 50-day simple moving average is $10.24 and its 200-day simple moving average is $11.10. The company has a quick ratio of 0.18, a current ratio of 0.18 and a debt-to-equity ratio of 1.80.

Hawaiian Electric Industries (NYSE:HE) last announced its quarterly earnings data on Friday, November 8th. The utilities provider reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.07). The business had revenue of $983.38 million during the quarter. Hawaiian Electric Industries had a negative net margin of 35.38% and a positive return on equity of 11.12%. The company’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.37 earnings per share. As a group, equities research analysts anticipate that Hawaiian Electric Industries, Inc. will post 1.71 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have issued reports on HE. Wells Fargo & Company lowered their price objective on shares of Hawaiian Electric Industries from $14.00 to $11.50 and set an “equal weight” rating on the stock in a research report on Monday, September 30th. Jefferies Financial Group began coverage on Hawaiian Electric Industries in a report on Tuesday, December 3rd. They set a “hold” rating and a $11.50 price target on the stock. StockNews.com upgraded Hawaiian Electric Industries from a “sell” rating to a “hold” rating in a research report on Tuesday. Finally, Evercore ISI cut their price target on Hawaiian Electric Industries from $11.00 to $10.00 and set an “in-line” rating for the company in a research note on Tuesday, November 19th.

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.