The Manufacturers Life Insurance Company Boosts Holdings in Hawaiian Electric Industries, Inc. (NYSE:HE)

The Manufacturers Life Insurance Company increased its stake in Hawaiian Electric Industries, Inc. (NYSE:HE) by 225.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 59,640 shares of the utilities provider’s stock after buying an additional 41,305 shares during the period. The Manufacturers Life Insurance Company owned about 0.05% of Hawaiian Electric Industries worth $538,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in HE. AQR Capital Management LLC increased its stake 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 worth $60,308,000 after buying an additional 2,312,950 shares during the last quarter. Millennium Management LLC increased its stake in shares of Hawaiian Electric Industries by 79.0% in the second quarter. Millennium Management LLC now owns 1,870,088 shares of the utilities provider’s stock worth $16,868,000 after buying an additional 825,073 shares during the last quarter. Wellington Management Group LLP bought a new stake in shares of Hawaiian Electric Industries in the fourth quarter worth $2,370,000. Panagora Asset Management Inc. increased its stake in shares of Hawaiian Electric Industries by 716.5% in the second quarter. Panagora Asset Management Inc. now owns 187,690 shares of the utilities provider’s stock worth $1,693,000 after buying an additional 164,702 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Hawaiian Electric Industries by 1.5% in the first quarter. Vanguard Group Inc. now owns 11,059,244 shares of the utilities provider’s stock worth $124,638,000 after buying an additional 160,815 shares during the last quarter. Institutional investors own 59.91% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on HE shares. Wells Fargo & Company dropped their price target on shares of Hawaiian Electric Industries from $14.00 to $11.50 and set an “equal weight” rating for the company in a research note on Monday, September 30th. Evercore ISI decreased their price objective on shares of Hawaiian Electric Industries from $16.00 to $9.00 and set an “in-line” rating for the company in a report on Tuesday, September 24th. Finally, StockNews.com downgraded shares of Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a report on Friday, October 4th.

Hawaiian Electric Industries Stock Performance

Hawaiian Electric Industries stock opened at $10.41 on Wednesday. The company has a market cap of $1.15 billion, a PE ratio of 6.16 and a beta of 0.54. The company has a fifty day moving average price of $11.34 and a two-hundred day moving average price of $11.22. 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 12 month low of $7.61 and a 12 month high of $18.19.

Hawaiian Electric Industries (NYSE:HE) last announced 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). Hawaiian Electric Industries had a negative net margin of 31.76% and a positive return on equity of 10.69%. The firm had revenue of $792.30 million for the quarter. Hawaiian Electric Industries’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.