Hawaiian Electric Industries, Inc. (NYSE:HE) Shares Acquired by Franklin Resources Inc.

Franklin Resources Inc. boosted its position in shares of Hawaiian Electric Industries, Inc. (NYSE:HE) by 656.7% during the third quarter, Holdings Channel reports. The firm owned 2,722,668 shares of the utilities provider’s stock after buying an additional 2,362,863 shares during the quarter. Franklin Resources Inc.’s holdings in Hawaiian Electric Industries were worth $27,499,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Zimmer Partners LP acquired a new position in shares of Hawaiian Electric Industries during the 3rd quarter worth $145,200,000. FMR LLC raised its position in Hawaiian Electric Industries by 7,986.3% during 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 during the last quarter. AQR Capital Management LLC lifted 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 purchasing an additional 2,312,950 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Hawaiian Electric Industries by 49.3% in the third quarter. Geode Capital Management LLC now owns 3,793,142 shares of the utilities provider’s stock valued at $36,725,000 after purchasing an additional 1,253,143 shares during the last quarter. Finally, Millennium Management LLC increased its stake in shares of Hawaiian Electric Industries by 79.0% during the 2nd quarter. Millennium Management LLC now owns 1,870,088 shares of the utilities provider’s stock worth $16,868,000 after purchasing an additional 825,073 shares in the last quarter. Institutional investors and hedge funds own 59.91% of the company’s stock.

Hawaiian Electric Industries Price Performance

Shares of NYSE:HE opened at $9.62 on Thursday. The business has a fifty day simple moving average of $10.24 and a 200-day simple moving average of $11.10. Hawaiian Electric Industries, Inc. has a 52 week low of $7.61 and a 52 week high of $18.19. The company has a market cap of $1.66 billion, a P/E ratio of -0.81 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.

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

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on HE. Evercore ISI reduced their target price on Hawaiian Electric Industries from $11.00 to $10.00 and set an “in-line” rating on the stock in a research note on Tuesday, November 19th. StockNews.com raised Hawaiian Electric Industries from a “sell” rating to a “hold” rating in a research note on Tuesday. Jefferies Financial Group initiated coverage on shares of Hawaiian Electric Industries in a research note on Tuesday, December 3rd. They issued a “hold” rating and a $11.50 target price for the company. Finally, Wells Fargo & Company decreased their price target on shares of Hawaiian Electric Industries from $14.00 to $11.50 and set an “equal weight” rating on the stock in a research note on Monday, September 30th.

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.