Choreo LLC Invests $141,000 in Hawaiian Electric Industries, Inc. (NYSE:HE)

Choreo LLC purchased a new stake in shares of Hawaiian Electric Industries, Inc. (NYSE:HE) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 16,876 shares of the utilities provider’s stock, valued at approximately $141,000.

Several other large investors have also recently bought and sold shares of the business. Acadian Asset Management LLC grew its position in Hawaiian Electric Industries by 158.6% during the second quarter. Acadian Asset Management LLC now owns 27,873 shares of the utilities provider’s stock valued at $251,000 after purchasing an additional 17,093 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of Hawaiian Electric Industries by 62.0% during the 2nd quarter. Victory Capital Management Inc. now owns 62,952 shares of the utilities provider’s stock valued at $568,000 after buying an additional 24,087 shares during the period. Rhumbline Advisers grew its holdings in shares of Hawaiian Electric Industries by 56.2% during the 2nd quarter. Rhumbline Advisers now owns 175,675 shares of the utilities provider’s stock valued at $1,585,000 after acquiring an additional 63,241 shares in the last quarter. Van ECK Associates Corp increased its stake in shares of Hawaiian Electric Industries by 9.5% in the second quarter. Van ECK Associates Corp now owns 28,481 shares of the utilities provider’s stock worth $257,000 after acquiring an additional 2,482 shares during the last quarter. Finally, Signaturefd LLC raised its holdings in shares of Hawaiian Electric Industries by 30.8% during the second quarter. Signaturefd LLC now owns 8,437 shares of the utilities provider’s stock worth $76,000 after acquiring an additional 1,986 shares in the last quarter. 59.91% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

HE has been the topic of a number of recent research reports. Wells Fargo & Company upgraded Hawaiian Electric Industries from an “underweight” rating to an “equal weight” rating and set a $14.00 target price on the stock in a research note on Friday, August 23rd. Evercore ISI reissued an “in-line” rating and issued a $16.00 price target on shares of Hawaiian Electric Industries in a research note on Wednesday, August 14th. Finally, StockNews.com downgraded Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a report on Monday, September 16th.

Hawaiian Electric Industries Stock Performance

Shares of NYSE:HE opened at $10.97 on Friday. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 2.62. The stock has a market capitalization of $1.21 billion, a PE ratio of 6.49 and a beta of 0.55. Hawaiian Electric Industries, Inc. has a 1 year low of $7.61 and a 1 year high of $18.19. The firm has a fifty day moving average price of $13.24 and a 200 day moving average price of $11.39.

Hawaiian Electric Industries (NYSE:HE) last released its quarterly earnings results on Friday, August 9th. The utilities provider reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.05). The company had revenue of $792.30 million for the quarter. Hawaiian Electric Industries had a positive return on equity of 10.69% and a negative net margin of 31.76%. The firm’s quarterly revenue was down .2% on a year-over-year basis.

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.