Fmr LLC Acquires 5,274,633 Shares of Hawaiian Electric Industries, Inc. (NYSE:HE)

Fmr LLC lifted its holdings in Hawaiian Electric Industries, Inc. (NYSE:HE) by 7,986.3% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,340,679 shares of the utilities provider’s stock after acquiring an additional 5,274,633 shares during the period. Fmr LLC owned approximately 4.84% of Hawaiian Electric Industries worth $51,698,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. KBC Group NV lifted its holdings in shares of 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 period. UMB Bank n.a. acquired a new position in Hawaiian Electric Industries during the third quarter valued at approximately $42,000. Signaturefd LLC lifted its stake in 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 purchasing an additional 1,986 shares during the last quarter. Quest Partners LLC increased its stake in shares of Hawaiian Electric Industries by 126.1% in the 3rd quarter. Quest Partners LLC now owns 7,983 shares of the utilities provider’s stock valued at $77,000 after purchasing an additional 4,453 shares during the last quarter. Finally, Evergreen Capital Management LLC bought a new position in shares of Hawaiian Electric Industries in the 2nd quarter valued at $91,000. Institutional investors and hedge funds own 59.91% of the company’s stock.

Hawaiian Electric Industries Trading Up 2.8 %

Shares of HE stock opened at $10.66 on Friday. Hawaiian Electric Industries, Inc. has a twelve month low of $7.61 and a twelve month high of $18.19. The stock’s fifty day simple moving average is $10.14 and its 200 day simple moving average is $11.12. The company has a quick ratio of 0.18, a current ratio of 0.18 and a debt-to-equity ratio of 1.80. The firm has a market capitalization of $1.84 billion, a P/E ratio of -0.90 and a beta of 0.53.

Hawaiian Electric Industries (NYSE:HE) last released its quarterly earnings results on Friday, November 8th. The utilities provider reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.07). The firm had revenue of $983.38 million for the quarter. Hawaiian Electric Industries had a positive return on equity of 11.12% and a negative net margin of 35.38%. The company’s revenue was up 9.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.37 EPS. As a group, sell-side analysts predict that Hawaiian Electric Industries, Inc. will post 1.71 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts recently weighed in on HE shares. Evercore ISI dropped their price objective on Hawaiian Electric Industries from $11.00 to $10.00 and set an “in-line” rating for the company in a research report on Tuesday, November 19th. StockNews.com cut shares of Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a report on Friday, October 4th. Jefferies Financial Group began coverage on shares of Hawaiian Electric Industries in a report on Tuesday, December 3rd. They set a “hold” rating and a $11.50 price target on the stock. Finally, Wells Fargo & Company lowered their price objective on shares of 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.

Hawaiian Electric Industries 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.