HighTower Advisors LLC Invests $108,000 in Hawaiian Electric Industries, Inc. (NYSE:HE)

HighTower Advisors LLC bought a new stake in Hawaiian Electric Industries, Inc. (NYSE:HE) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 11,270 shares of the utilities provider’s stock, valued at approximately $108,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. FORA Capital LLC bought a new position in Hawaiian Electric Industries during the third quarter worth about $692,000. Seven Grand Managers LLC bought a new position in shares of Hawaiian Electric Industries during the 3rd quarter worth approximately $4,888,000. Bank of New York Mellon Corp increased its holdings in shares of Hawaiian Electric Industries by 23.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 638,156 shares of the utilities provider’s stock worth $5,756,000 after acquiring an additional 120,208 shares during the last quarter. FMR LLC raised its stake in Hawaiian Electric Industries by 7,986.3% in the 3rd quarter. FMR LLC now owns 5,340,679 shares of the utilities provider’s stock valued at $51,698,000 after acquiring an additional 5,274,633 shares during the period. Finally, Fernwood Investment Management LLC lifted its holdings in Hawaiian Electric Industries by 82.8% during the 3rd quarter. Fernwood Investment Management LLC now owns 133,175 shares of the utilities provider’s stock valued at $1,289,000 after purchasing an additional 60,335 shares during the last quarter. Institutional investors and hedge funds own 59.91% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on HE shares. Evercore ISI decreased their price objective on shares of Hawaiian Electric Industries from $11.00 to $10.00 and set an “in-line” rating on the stock in a report on Tuesday, November 19th. Wells Fargo & Company lowered their price target on shares of Hawaiian Electric Industries from $14.00 to $11.50 and set an “equal weight” rating on the stock in a report on Monday, September 30th. StockNews.com upgraded Hawaiian Electric Industries from a “sell” rating to a “hold” rating in a report on Thursday. Finally, Jefferies Financial Group began coverage on Hawaiian Electric Industries in a research report on Tuesday, December 3rd. They issued a “hold” rating and a $11.50 target price on the stock.

Hawaiian Electric Industries Price Performance

NYSE:HE opened at $9.91 on Friday. Hawaiian Electric Industries, Inc. has a 52 week low of $7.61 and a 52 week high of $18.19. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.18 and a current ratio of 0.18. The firm’s 50-day simple moving average is $10.22 and its 200 day simple moving average is $11.07. The firm has a market cap of $1.71 billion, a price-to-earnings ratio of -0.84 and a beta of 0.53.

Hawaiian Electric Industries (NYSE:HE) last announced its earnings results on Friday, November 8th. The utilities provider reported $0.46 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.07). The business 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 for the quarter was up 9.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.37 earnings per share. As a group, sell-side analysts predict that Hawaiian Electric Industries, Inc. will post 1.71 earnings per share for the current year.

Hawaiian Electric Industries Company 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.