Alliancebernstein L.P. Increases Stake in Hawaiian Electric Industries, Inc. (NYSE:HE)

Alliancebernstein L.P. grew its holdings in shares of Hawaiian Electric Industries, Inc. (NYSE:HE) by 45.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 168,930 shares of the utilities provider’s stock after acquiring an additional 52,580 shares during the period. Alliancebernstein L.P. owned about 0.10% of Hawaiian Electric Industries worth $1,644,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. HighTower Advisors LLC bought a new stake in Hawaiian Electric Industries during the third quarter valued at about $108,000. State Street Corp grew its stake in shares of Hawaiian Electric Industries by 19.8% during the 3rd quarter. State Street Corp now owns 3,368,096 shares of the utilities provider’s stock valued at $32,603,000 after acquiring an additional 556,747 shares during the period. XTX Topco Ltd purchased a new stake in Hawaiian Electric Industries in the 3rd quarter worth approximately $143,000. Barclays PLC raised its stake in Hawaiian Electric Industries by 48.5% during the 3rd quarter. Barclays PLC now owns 255,618 shares of the utilities provider’s stock worth $2,475,000 after acquiring an additional 83,496 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in Hawaiian Electric Industries by 49.3% during the third quarter. Geode Capital Management LLC now owns 3,793,142 shares of the utilities provider’s stock valued at $36,725,000 after purchasing an additional 1,253,143 shares in the last quarter. 59.91% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Hawaiian Electric Industries Trading Up 0.8 %

HE opened at $10.44 on Friday. 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 fifty day moving average is $10.60 and its two-hundred day moving average is $10.09. The company has a market capitalization of $1.80 billion, a P/E ratio of -0.88 and a beta of 0.51. Hawaiian Electric Industries, Inc. has a 52 week low of $7.61 and a 52 week high of $18.19.

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