Edgestream Partners L.P. Takes $1.77 Million Position in Hawaiian Electric Industries, Inc. (NYSE:HE)

Edgestream Partners L.P. purchased a new stake in shares of Hawaiian Electric Industries, Inc. (NYSE:HE) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 181,799 shares of the utilities provider’s stock, valued at approximately $1,769,000. Edgestream Partners L.P. owned 0.11% of Hawaiian Electric Industries at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Virtu Financial LLC acquired a new stake in shares of Hawaiian Electric Industries during the third quarter valued at approximately $821,000. FORA Capital LLC acquired a new position in Hawaiian Electric Industries in the 3rd quarter valued at approximately $692,000. Franklin Resources Inc. increased its stake in Hawaiian Electric Industries by 656.7% in the 3rd quarter. Franklin Resources Inc. now owns 2,722,668 shares of the utilities provider’s stock valued at $27,499,000 after buying an additional 2,362,863 shares during the period. FMR LLC grew 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 worth $51,698,000 after acquiring an additional 5,274,633 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Hawaiian Electric Industries by 20.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,021,649 shares of the utilities provider’s stock worth $29,250,000 after acquiring an additional 514,989 shares in the last quarter. Institutional investors and hedge funds own 59.91% of the company’s stock.

Wall Street Analyst Weigh In

HE has been the subject of several recent research reports. Wells Fargo & Company boosted their target price on shares of Hawaiian Electric Industries from $11.00 to $12.50 and gave the stock an “equal weight” rating in a research report on Thursday, February 27th. Barclays upped their price objective on shares of Hawaiian Electric Industries from $10.00 to $11.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 4th. Jefferies Financial Group decreased their price objective on shares of Hawaiian Electric Industries from $11.50 to $10.50 and set a “hold” rating for the company in a report on Friday, January 3rd. StockNews.com downgraded shares of Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a report on Tuesday, February 11th. Finally, Evercore ISI raised shares of Hawaiian Electric Industries from an “in-line” rating to an “outperform” rating and increased their price target for the company from $12.00 to $14.00 in a report on Friday. One analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, Hawaiian Electric Industries presently has an average rating of “Hold” and a consensus price target of $12.00.

Hawaiian Electric Industries Trading Down 2.1 %

Shares of HE stock opened at $11.23 on Tuesday. Hawaiian Electric Industries, Inc. has a 52-week low of $7.61 and a 52-week high of $18.19. The stock has a market cap of $1.94 billion, a price-to-earnings ratio of -0.95 and a beta of 0.46. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.18 and a current ratio of 0.18. The firm has a fifty day moving average of $9.77 and a 200-day moving average of $10.17.

Hawaiian Electric Industries (NYSE:HE) last announced its quarterly earnings data on Friday, February 21st. The utilities provider reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.19). The business had revenue of $799.18 million during the quarter. Hawaiian Electric Industries had a negative net margin of 35.38% and a positive return on equity of 11.12%. On average, equities research analysts forecast that Hawaiian Electric Industries, Inc. will post 1.71 earnings per share for the current fiscal year.

Hawaiian Electric Industries 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.