Geode Capital Management LLC Buys 1,253,143 Shares of Hawaiian Electric Industries, Inc. (NYSE:HE)

Geode Capital Management LLC boosted its stake in shares of Hawaiian Electric Industries, Inc. (NYSE:HE) by 49.3% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,793,142 shares of the utilities provider’s stock after buying an additional 1,253,143 shares during the period. Geode Capital Management LLC owned approximately 3.44% of Hawaiian Electric Industries worth $36,725,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. KBC Group NV increased its holdings in shares of Hawaiian Electric Industries by 34.8% during the third quarter. KBC Group NV now owns 3,956 shares of the utilities provider’s stock valued at $38,000 after acquiring an additional 1,021 shares in the last quarter. UMB Bank n.a. bought a new stake in Hawaiian Electric Industries during the 3rd quarter valued at about $42,000. Quarry LP raised its holdings in Hawaiian Electric Industries by 156.6% in the third quarter. Quarry LP now owns 4,503 shares of the utilities provider’s stock worth $44,000 after buying an additional 2,748 shares during the last quarter. Millburn Ridgefield Corp bought a new position in shares of Hawaiian Electric Industries in the third quarter worth approximately $55,000. Finally, Signaturefd LLC grew its holdings in shares of Hawaiian Electric Industries by 30.8% during the second quarter. Signaturefd LLC now owns 8,437 shares of the utilities provider’s stock valued at $76,000 after buying an additional 1,986 shares during the last quarter. Hedge funds and other institutional investors own 59.91% of the company’s stock.

Hawaiian Electric Industries Price Performance

NYSE HE opened at $9.86 on Wednesday. The stock has a market capitalization of $1.70 billion, a price-to-earnings ratio of -0.83 and a beta of 0.53. Hawaiian Electric Industries, Inc. has a 1-year low of $7.61 and a 1-year high of $18.19. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.18 and a quick ratio of 0.18. The business’s fifty day moving average price is $10.24 and its 200-day moving average price is $11.09.

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

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on HE shares. Evercore ISI lowered their price objective on Hawaiian Electric Industries from $11.00 to $10.00 and set an “in-line” rating on the stock in a research report on Tuesday, November 19th. Jefferies Financial Group assumed coverage on Hawaiian Electric Industries in a report on Tuesday, December 3rd. They set a “hold” rating and a $11.50 price target on the stock. StockNews.com upgraded Hawaiian Electric Industries from a “sell” rating to a “hold” rating in a report on Tuesday, December 17th. Finally, Wells Fargo & Company lowered their target price on shares of Hawaiian Electric Industries from $14.00 to $11.50 and set an “equal weight” rating on the stock in a research note 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.