Proficio Capital Partners LLC Takes Position in Hawaiian Electric Industries, Inc. (NYSE:HE)

Proficio Capital Partners LLC acquired a new stake in Hawaiian Electric Industries, Inc. (NYSE:HE) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 14,634 shares of the utilities provider’s stock, valued at approximately $142,000.

Other hedge funds also recently modified their holdings of the company. Zimmer Partners LP acquired a new position in shares of Hawaiian Electric Industries in the 3rd quarter valued at approximately $145,200,000. FMR LLC grew its holdings in Hawaiian Electric Industries by 7,986.3% during the 3rd quarter. FMR LLC now owns 5,340,679 shares of the utilities provider’s stock worth $51,698,000 after acquiring an additional 5,274,633 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Hawaiian Electric Industries by 49.3% in the 3rd quarter. Geode Capital Management LLC now owns 3,793,142 shares of the utilities provider’s stock worth $36,725,000 after purchasing an additional 1,253,143 shares during the period. State Street Corp lifted its position in shares of Hawaiian Electric Industries by 19.8% in the 3rd quarter. State Street Corp now owns 3,368,096 shares of the utilities provider’s stock worth $32,603,000 after purchasing an additional 556,747 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Hawaiian Electric Industries by 20.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,021,649 shares of the utilities provider’s stock valued at $29,250,000 after acquiring an additional 514,989 shares during the period. Institutional investors and hedge funds own 59.91% of the company’s stock.

Wall Street Analysts Forecast Growth

HE has been the subject of several recent analyst reports. Evercore ISI upgraded shares of Hawaiian Electric Industries from an “in-line” rating to an “outperform” rating and upped their target price for the stock from $12.00 to $14.00 in a research note on Friday, March 7th. StockNews.com downgraded shares of Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a report on Tuesday, February 11th. Barclays upped their price objective on shares of Hawaiian Electric Industries from $10.00 to $11.00 and gave the company an “equal weight” rating in a report on Tuesday, March 4th. Jefferies Financial Group lowered their price target on shares of Hawaiian Electric Industries from $11.50 to $10.50 and set a “hold” rating on the stock in a report on Friday, January 3rd. Finally, Wells Fargo & Company increased their price target on shares of Hawaiian Electric Industries from $11.00 to $12.50 and gave the stock an “equal weight” rating in a report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $12.00.

Hawaiian Electric Industries Stock Down 2.1 %

Shares of Hawaiian Electric Industries stock opened at $10.94 on Thursday. 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, Inc. has a 52-week low of $7.61 and a 52-week high of $18.19. The stock has a market capitalization of $1.89 billion, a price-to-earnings ratio of -0.92 and a beta of 0.46. The company’s 50 day moving average price is $9.82 and its 200-day moving average price is $10.18.

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

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.