181,799 Shares in Hawaiian Electric Industries, Inc. (NYSE:HE) Purchased by Edgestream Partners L.P.

Edgestream Partners L.P. bought a new position in shares of Hawaiian Electric Industries, Inc. (NYSE:HE) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 181,799 shares of the utilities provider’s stock, valued at approximately $1,769,000.

A number of other hedge funds have also made changes to their positions in the company. Blue Trust Inc. grew its holdings in Hawaiian Electric Industries by 203.0% during the 4th quarter. Blue Trust Inc. now owns 3,078 shares of the utilities provider’s stock worth $30,000 after acquiring an additional 2,062 shares during the last quarter. R Squared Ltd bought a new stake in Hawaiian Electric Industries during the 4th quarter worth about $36,000. KBC Group NV grew its holdings in Hawaiian Electric Industries by 34.8% during the 3rd quarter. KBC Group NV now owns 3,956 shares of the utilities provider’s stock worth $38,000 after acquiring an additional 1,021 shares during the last quarter. Quarry LP grew its holdings in Hawaiian Electric Industries by 156.6% during the 3rd quarter. Quarry LP now owns 4,503 shares of the utilities provider’s stock worth $44,000 after acquiring an additional 2,748 shares during the last quarter. Finally, Jones Financial Companies Lllp grew its holdings in Hawaiian Electric Industries by 63.9% during the 4th quarter. Jones Financial Companies Lllp now owns 4,844 shares of the utilities provider’s stock worth $47,000 after acquiring an additional 1,889 shares during the last quarter. Institutional investors and hedge funds own 59.91% of the company’s stock.

Hawaiian Electric Industries Stock Down 2.1 %

Hawaiian Electric Industries stock opened at $11.23 on Tuesday. The company’s 50 day simple moving average is $9.77 and its 200 day simple moving average is $10.17. Hawaiian Electric Industries, Inc. has a fifty-two week low of $7.61 and a fifty-two week high of $18.19. The firm has a market capitalization 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 current ratio of 0.18 and a quick ratio of 0.18.

Hawaiian Electric Industries (NYSE:HE) last released its quarterly earnings data on Friday, February 21st. The utilities provider reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.19). Hawaiian Electric Industries had a positive return on equity of 11.12% and a negative net margin of 35.38%. The firm had revenue of $799.18 million for the quarter. As a group, sell-side analysts anticipate that Hawaiian Electric Industries, Inc. will post 1.71 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on HE shares. StockNews.com lowered shares of Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a research note on Tuesday, February 11th. Jefferies Financial Group reduced their target price on shares of Hawaiian Electric Industries from $11.50 to $10.50 and set a “hold” rating on the stock in a research note on Friday, January 3rd. Wells Fargo & Company raised their target price on shares of Hawaiian Electric Industries from $11.00 to $12.50 and gave the company an “equal weight” rating in a research note on Thursday, February 27th. Barclays raised their target price on shares of Hawaiian Electric Industries from $10.00 to $11.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 4th. Finally, Evercore ISI raised shares of Hawaiian Electric Industries from an “in-line” rating to an “outperform” rating and raised their target price for the company from $12.00 to $14.00 in a research note on Friday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $12.00.

Hawaiian Electric Industries Company 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.