FNY Investment Advisers LLC Buys New Holdings in Hawaiian Electric Industries, Inc. (NYSE:HE)

FNY Investment Advisers LLC purchased a new position in shares of Hawaiian Electric Industries, Inc. (NYSE:HE) in the 4th quarter, Holdings Channel.com reports. The fund purchased 12,250 shares of the utilities provider’s stock, valued at approximately $119,000.

A number of other large investors also recently modified their holdings of HE. Zimmer Partners LP acquired a new position in shares of Hawaiian Electric Industries during the 3rd quarter valued at $145,200,000. AQR Capital Management LLC raised its position in 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 purchasing an additional 2,312,950 shares during the period. FMR LLC raised its position in 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 purchasing an additional 5,274,633 shares during the period. Geode Capital Management LLC lifted its stake 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 purchasing an additional 1,253,143 shares in the last quarter. Finally, State Street Corp grew its stake in shares of Hawaiian Electric Industries by 19.8% in the third quarter. State Street Corp now owns 3,368,096 shares of the utilities provider’s stock valued at $32,603,000 after buying an additional 556,747 shares in the last quarter. 59.91% of the stock is currently owned by hedge funds and other institutional investors.

Hawaiian Electric Industries Price Performance

HE stock opened at $8.39 on Wednesday. The company has a market capitalization of $1.45 billion, a PE ratio of -0.71 and a beta of 0.53. The company has a quick ratio of 0.18, a current ratio of 0.18 and a debt-to-equity ratio of 1.80. The stock’s 50 day moving average is $9.98 and its two-hundred day moving average is $11.05. Hawaiian Electric Industries, Inc. has a 52-week low of $7.61 and a 52-week high of $18.19.

Hawaiian Electric Industries (NYSE:HE) last issued its quarterly earnings results on Friday, November 8th. The utilities provider reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.07). Hawaiian Electric Industries had a positive return on equity of 11.12% and a negative net margin of 35.38%. The company had revenue of $983.38 million during the quarter. During the same period in the previous year, the business posted $0.37 EPS. The company’s revenue was up 9.0% on a year-over-year basis. Analysts predict that Hawaiian Electric Industries, Inc. will post 1.71 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently commented on HE. StockNews.com raised Hawaiian Electric Industries from a “sell” rating to a “hold” rating in a research report on Saturday. Evercore ISI reduced their target price on shares of Hawaiian Electric Industries from $11.00 to $10.00 and set an “in-line” rating on the stock in a research report on Tuesday, November 19th. Jefferies Financial Group decreased their target price on shares of Hawaiian Electric Industries from $11.50 to $10.50 and set a “hold” rating for the company in a research note on Friday, January 3rd. Finally, Wells Fargo & Company cut 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 report on Monday, September 30th.

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.