Rhumbline Advisers Purchases 63,241 Shares of Hawaiian Electric Industries, Inc. (NYSE:HE)

Rhumbline Advisers grew its holdings in Hawaiian Electric Industries, Inc. (NYSE:HE) by 56.2% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 175,675 shares of the utilities provider’s stock after acquiring an additional 63,241 shares during the quarter. Rhumbline Advisers owned 0.16% of Hawaiian Electric Industries worth $1,585,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of HE. Verition Fund Management LLC bought a new stake in shares of Hawaiian Electric Industries during the 4th quarter valued at $8,944,000. Charles Schwab Investment Management Inc. grew its stake in Hawaiian Electric Industries by 21.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,621,304 shares of the utilities provider’s stock worth $23,006,000 after buying an additional 285,955 shares in the last quarter. Wellington Management Group LLP bought a new position in Hawaiian Electric Industries in the 4th quarter valued at about $2,370,000. Panagora Asset Management Inc. raised its position in shares of Hawaiian Electric Industries by 716.5% in the 2nd quarter. Panagora Asset Management Inc. now owns 187,690 shares of the utilities provider’s stock valued at $1,693,000 after buying an additional 164,702 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Hawaiian Electric Industries by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 11,059,244 shares of the utilities provider’s stock worth $124,638,000 after acquiring an additional 160,815 shares during the period. 59.91% of the stock is currently owned by institutional investors and hedge funds.

Hawaiian Electric Industries Price Performance

Shares of NYSE:HE opened at $10.97 on Friday. The company has a market capitalization of $1.21 billion, a price-to-earnings ratio of 6.49 and a beta of 0.55. The business’s 50-day moving average is $13.24 and its 200-day moving average is $11.39. The company has a debt-to-equity ratio of 2.62, a current ratio of 0.11 and a quick ratio of 0.11. Hawaiian Electric Industries, Inc. has a 1 year low of $7.61 and a 1 year high of $18.19.

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

Wall Street Analyst Weigh In

Several brokerages have commented on HE. Evercore ISI reissued an “in-line” rating and set a $16.00 target price on shares of Hawaiian Electric Industries in a research note on Wednesday, August 14th. Wells Fargo & Company raised shares of Hawaiian Electric Industries from an “underweight” rating to an “equal weight” rating and set a $14.00 price objective for the company in a research note on Friday, August 23rd. Finally, StockNews.com lowered shares of Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a research report on Monday, September 16th.

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.