Intech Investment Management LLC Takes Position in Hawaiian Electric Industries, Inc. (NYSE:HE)

Intech Investment Management LLC purchased a new stake in Hawaiian Electric Industries, Inc. (NYSE:HE) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 24,652 shares of the utilities provider’s stock, valued at approximately $239,000.

A number of other large investors have also recently bought and sold shares of HE. AQR Capital Management LLC increased its holdings in shares of Hawaiian Electric Industries by 52.8% during 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 in the last quarter. Millennium Management LLC increased its holdings in 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 valued at $16,868,000 after purchasing an additional 825,073 shares in the last quarter. Seven Grand Managers LLC bought a new position in Hawaiian Electric Industries in the 3rd quarter valued at $4,888,000. Thrivent Financial for Lutherans acquired a new position in Hawaiian Electric Industries in the third quarter worth $2,233,000. Finally, Panagora Asset Management Inc. grew its holdings in shares of Hawaiian Electric Industries by 716.5% during the second quarter. Panagora Asset Management Inc. now owns 187,690 shares of the utilities provider’s stock worth $1,693,000 after purchasing an additional 164,702 shares during the last quarter. 59.91% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

HE has been the topic of a number of research reports. Evercore ISI reduced their target price on shares of Hawaiian Electric Industries from $11.00 to $10.00 and set an “in-line” rating on the stock in a research report on Tuesday, November 19th. Jefferies Financial Group initiated coverage on Hawaiian Electric Industries in a research report on Tuesday. They issued a “hold” rating and a $11.50 price objective on the stock. Wells Fargo & Company dropped their target price on Hawaiian Electric Industries from $14.00 to $11.50 and set an “equal weight” rating for the company in a research report on Monday, September 30th. Finally, StockNews.com cut Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a report on Friday, October 4th.

Hawaiian Electric Industries Price Performance

NYSE HE opened at $10.37 on Friday. Hawaiian Electric Industries, Inc. has a 52-week low of $7.61 and a 52-week high of $18.19. The stock has a market cap of $1.79 billion, a price-to-earnings ratio of -0.88 and a beta of 0.53. The business has a 50 day simple moving average of $10.13 and a 200 day simple moving average of $11.13. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.18 and a current ratio of 0.18.

Hawaiian Electric Industries (NYSE:HE) last issued its quarterly earnings data on Friday, November 8th. The utilities provider reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.07). Hawaiian Electric Industries had a positive return on equity of 11.12% and a negative net margin of 35.38%. The company had revenue of $983.38 million for the quarter. During the same period in the previous year, the business earned $0.37 EPS. The firm’s revenue was up 9.0% 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.