Rhumbline Advisers Purchases 6,566 Shares of Hawaiian Electric Industries, Inc. (NYSE:HE)

Rhumbline Advisers grew its holdings in shares of Hawaiian Electric Industries, Inc. (NYSE:HE) by 1.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 401,501 shares of the utilities provider’s stock after acquiring an additional 6,566 shares during the period. Rhumbline Advisers owned 0.37% of Hawaiian Electric Industries worth $14,534,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Thrivent Financial for Lutherans boosted its stake in Hawaiian Electric Industries by 0.9% during the third quarter. Thrivent Financial for Lutherans now owns 28,973 shares of the utilities provider’s stock worth $1,004,000 after acquiring an additional 264 shares in the last quarter. Treasurer of the State of North Carolina boosted its position in shares of Hawaiian Electric Industries by 0.7% during the 1st quarter. Treasurer of the State of North Carolina now owns 47,557 shares of the utilities provider’s stock worth $1,826,000 after purchasing an additional 340 shares in the last quarter. Chicago Partners Investment Group LLC grew its stake in shares of Hawaiian Electric Industries by 5.2% in the 2nd quarter. Chicago Partners Investment Group LLC now owns 6,960 shares of the utilities provider’s stock valued at $267,000 after buying an additional 346 shares during the period. Bank of Montreal Can increased its position in Hawaiian Electric Industries by 3.0% in the 1st quarter. Bank of Montreal Can now owns 13,673 shares of the utilities provider’s stock valued at $584,000 after buying an additional 403 shares in the last quarter. Finally, CWM LLC raised its stake in Hawaiian Electric Industries by 8.8% during the 2nd quarter. CWM LLC now owns 4,982 shares of the utilities provider’s stock worth $180,000 after buying an additional 404 shares during the period. 53.64% of the stock is currently owned by institutional investors and hedge funds.

Hawaiian Electric Industries Stock Performance

NYSE HE opened at $13.91 on Monday. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.13 and a quick ratio of 0.08. The company has a fifty day moving average price of $12.73 and a 200-day moving average price of $25.19. Hawaiian Electric Industries, Inc. has a 1 year low of $9.06 and a 1 year high of $43.71. The firm has a market cap of $1.53 billion, a price-to-earnings ratio of 7.36, a PEG ratio of 2.16 and a beta of 0.57.

Analyst Upgrades and Downgrades

HE has been the subject of several recent research reports. TheStreet downgraded Hawaiian Electric Industries from a “b-” rating to a “c+” rating in a report on Wednesday, August 16th. Wells Fargo & Company downgraded shares of Hawaiian Electric Industries from an “equal weight” rating to an “underweight” rating and upped their price objective for the stock from $8.00 to $8.50 in a report on Friday, November 10th. StockNews.com assumed coverage on shares of Hawaiian Electric Industries in a report on Thursday, October 5th. They set a “sell” rating for the company. Bank of America restated an “underperform” rating and issued a $8.50 target price on shares of Hawaiian Electric Industries in a report on Friday, August 25th. Finally, Guggenheim cut their price target on Hawaiian Electric Industries from $32.00 to $18.00 in a research note on Monday, August 14th. Three analysts have rated the stock with a sell rating and one has assigned a hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus target price of $17.75.

About Hawaiian Electric Industries

Hawaiian Electric Industries, Inc, together with its subsidiaries, engages in the electric utility, banking, and non-regulated renewable/sustainable infrastructure investment businesses in the state of Hawaii. It operates through 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.