Quest Partners LLC Grows Stake in Hawaiian Electric Industries, Inc. (NYSE:HE)

Quest Partners LLC increased its holdings in Hawaiian Electric Industries, Inc. (NYSE:HE) by 126.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,983 shares of the utilities provider’s stock after purchasing an additional 4,453 shares during the period. Quest Partners LLC’s holdings in Hawaiian Electric Industries were worth $77,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Hawaiian Electric Industries by 1.5% during the first quarter. Vanguard Group Inc. now owns 11,059,244 shares of the utilities provider’s stock valued at $124,638,000 after purchasing an additional 160,815 shares in the last quarter. Seven Grand Managers LLC purchased a new stake in shares of Hawaiian Electric Industries during the 3rd quarter worth approximately $4,888,000. Bank of New York Mellon Corp raised its holdings in shares of Hawaiian Electric Industries by 23.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 638,156 shares of the utilities provider’s stock worth $5,756,000 after acquiring an additional 120,208 shares in the last quarter. Fernwood Investment Management LLC boosted its position in shares of Hawaiian Electric Industries by 82.8% during the 3rd quarter. Fernwood Investment Management LLC now owns 133,175 shares of the utilities provider’s stock valued at $1,289,000 after acquiring an additional 60,335 shares during the last quarter. Finally, Diversified Trust Co purchased a new position in shares of Hawaiian Electric Industries in the second quarter valued at $372,000. 59.91% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. StockNews.com downgraded shares of Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a research note on Friday, October 4th. Evercore ISI decreased their target price on shares of 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. Finally, Wells Fargo & Company lowered their price target on shares of Hawaiian Electric Industries from $14.00 to $11.50 and set an “equal weight” rating for the company in a report on Monday, September 30th.

Hawaiian Electric Industries Price Performance

Shares of HE stock opened at $10.41 on Friday. The company has a market capitalization of $1.79 billion, a P/E ratio of -0.88 and a beta of 0.53. The company’s 50-day simple moving average is $10.12 and its two-hundred day simple moving average is $11.16. Hawaiian Electric Industries, Inc. has a one year low of $7.61 and a one 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.

Hawaiian Electric Industries (NYSE:HE) last released its quarterly earnings data on Friday, November 8th. The utilities provider reported $0.46 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.07). The firm had revenue of $983.38 million for the quarter. Hawaiian Electric Industries had a positive return on equity of 11.12% and a negative net margin of 35.38%. The firm’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.37 EPS.

About Hawaiian Electric Industries

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.