Geode Capital Management LLC Purchases 132,740 Shares of Hawaiian Electric Industries, Inc. (NYSE:HE)

Geode Capital Management LLC grew its holdings in shares of Hawaiian Electric Industries, Inc. (NYSE:HE) by 3.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,925,882 shares of the utilities provider’s stock after purchasing an additional 132,740 shares during the quarter. Geode Capital Management LLC owned about 2.28% of Hawaiian Electric Industries worth $38,208,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. Commonwealth Equity Services LLC boosted its stake in Hawaiian Electric Industries by 3.6% in the 4th quarter. Commonwealth Equity Services LLC now owns 31,078 shares of the utilities provider’s stock worth $302,000 after purchasing an additional 1,080 shares during the period. Xponance Inc. lifted its holdings in shares of Hawaiian Electric Industries by 10.9% in the fourth quarter. Xponance Inc. now owns 11,935 shares of the utilities provider’s stock worth $116,000 after buying an additional 1,171 shares in the last quarter. Diversified Trust Co boosted its position in shares of Hawaiian Electric Industries by 2.9% in the fourth quarter. Diversified Trust Co now owns 41,455 shares of the utilities provider’s stock valued at $403,000 after acquiring an additional 1,184 shares during the period. Jones Financial Companies Lllp boosted its position in shares of Hawaiian Electric Industries by 63.9% in the fourth quarter. Jones Financial Companies Lllp now owns 4,844 shares of the utilities provider’s stock valued at $47,000 after acquiring an additional 1,889 shares during the period. Finally, Amalgamated Bank grew its stake in Hawaiian Electric Industries by 50.9% during the fourth quarter. Amalgamated Bank now owns 5,650 shares of the utilities provider’s stock valued at $55,000 after acquiring an additional 1,905 shares in the last quarter. Hedge funds and other institutional investors own 59.91% of the company’s stock.

Analyst Ratings Changes

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

Hawaiian Electric Industries Trading Up 3.0 %

NYSE HE opened at $10.36 on Wednesday. The company has a quick ratio of 0.18, a current ratio of 0.18 and a debt-to-equity ratio of 1.80. The stock’s 50-day simple moving average is $10.58 and its two-hundred day simple moving average is $10.08. Hawaiian Electric Industries, Inc. has a twelve month low of $7.61 and a twelve month high of $18.19. The company has a market capitalization of $1.79 billion, a price-to-earnings ratio of -0.88 and a beta of 0.51.

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

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.