Millennium Management LLC Has $16.87 Million Stake in Hawaiian Electric Industries, Inc. (NYSE:HE)

Millennium Management LLC lifted its position in shares of Hawaiian Electric Industries, Inc. (NYSE:HE) by 79.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,870,088 shares of the utilities provider’s stock after buying an additional 825,073 shares during the period. Millennium Management LLC owned about 1.70% of Hawaiian Electric Industries worth $16,868,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of HE. Bank of Nova Scotia bought a new position in Hawaiian Electric Industries in the fourth quarter valued at $1,202,000. Campbell & CO Investment Adviser LLC acquired a new stake in shares of Hawaiian Electric Industries in the fourth quarter valued at about $643,000. Quadrature Capital Ltd increased its position in shares of Hawaiian Electric Industries by 16.5% in the fourth quarter. Quadrature Capital Ltd now owns 157,903 shares of the utilities provider’s stock valued at $2,241,000 after acquiring an additional 22,363 shares during the last quarter. Verition Fund Management LLC acquired a new position in Hawaiian Electric Industries during the fourth quarter valued at approximately $8,944,000. Finally, Virtu Financial LLC acquired a new position in Hawaiian Electric Industries during the fourth quarter valued at approximately $402,000. 59.91% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on HE. Wells Fargo & Company lowered their price target on Hawaiian Electric Industries from $14.00 to $11.50 and set an “equal weight” rating on the stock in a research report on Monday, September 30th. StockNews.com lowered shares of Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a research report on Friday. Finally, Evercore ISI cut their price target on shares of Hawaiian Electric Industries from $16.00 to $9.00 and set an “in-line” rating for the company in a research note on Tuesday, September 24th.

Hawaiian Electric Industries Price Performance

Shares of NYSE HE opened at $9.76 on Friday. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 2.62. The business’s 50 day moving average price is $12.26 and its two-hundred day moving average price is $11.29. The company has a market cap of $1.08 billion, a PE ratio of 5.78 and a beta of 0.54. Hawaiian Electric Industries, Inc. has a twelve month low of $7.61 and a twelve month high of $18.19.

Hawaiian Electric Industries (NYSE:HE) last posted its earnings results on Friday, August 9th. The utilities provider reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.05). Hawaiian Electric Industries had a positive return on equity of 10.69% and a negative net margin of 31.76%. The business had revenue of $792.30 million for the quarter. The company’s revenue for the quarter was down .2% compared to the same quarter last 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.