Hawaiian Electric Industries, Inc. (NYSE:HE) Stake Raised by Van ECK Associates Corp

Van ECK Associates Corp increased its holdings in Hawaiian Electric Industries, Inc. (NYSE:HE) by 8.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 49,231 shares of the utilities provider’s stock after acquiring an additional 3,695 shares during the period. Van ECK Associates Corp’s holdings in Hawaiian Electric Industries were worth $479,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Blue Trust Inc. lifted its stake in Hawaiian Electric Industries by 203.0% in the 4th quarter. Blue Trust Inc. now owns 3,078 shares of the utilities provider’s stock worth $30,000 after acquiring an additional 2,062 shares in the last quarter. R Squared Ltd purchased a new stake in Hawaiian Electric Industries in the 4th quarter worth about $36,000. KBC Group NV lifted its stake in Hawaiian Electric Industries by 34.8% in 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 in the last quarter. Quarry LP lifted its stake in Hawaiian Electric Industries by 156.6% in the 3rd quarter. Quarry LP now owns 4,503 shares of the utilities provider’s stock worth $44,000 after acquiring an additional 2,748 shares in the last quarter. Finally, Millburn Ridgefield Corp purchased a new stake in shares of Hawaiian Electric Industries during the 3rd quarter worth about $55,000. 59.91% of the stock is owned by hedge funds and other institutional investors.

Hawaiian Electric Industries Stock Performance

Shares of NYSE HE opened at $10.77 on Friday. 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 has a market cap of $1.86 billion, a price-to-earnings ratio of -0.91 and a beta of 0.53. The business’s 50-day simple moving average is $9.56 and its 200-day simple moving average is $10.40. Hawaiian Electric Industries, Inc. has a 52 week low of $7.61 and a 52 week high of $18.19.

Hawaiian Electric Industries (NYSE:HE) last issued its quarterly earnings data on Friday, February 21st. The utilities provider reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.19). The company had revenue of $799.18 million for the quarter. Hawaiian Electric Industries had a negative net margin of 35.38% and a positive return on equity of 11.12%. As a group, equities research analysts expect that Hawaiian Electric Industries, Inc. will post 1.71 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on HE. Evercore ISI cut their price target on Hawaiian Electric Industries from $11.00 to $10.00 and set an “in-line” rating for the company in a research note on Tuesday, November 19th. Barclays began coverage on Hawaiian Electric Industries in a research note on Thursday, February 6th. They set an “equal weight” rating and a $10.00 price target for the company. StockNews.com downgraded Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a research note on Tuesday, February 11th. Finally, Jefferies Financial Group cut their price target on Hawaiian Electric Industries from $11.50 to $10.50 and set a “hold” rating for the company in a research note on Friday, January 3rd. One research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $10.50.

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.