Hawaiian Electric Industries, Inc. (NYSE:HE) Shares Acquired by Wells Fargo & Company MN

Wells Fargo & Company MN grew its holdings in shares of Hawaiian Electric Industries, Inc. (NYSE:HE) by 23.5% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 135,158 shares of the utilities provider’s stock after acquiring an additional 25,750 shares during the quarter. Wells Fargo & Company MN owned about 0.08% of Hawaiian Electric Industries worth $1,315,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Blue Trust Inc. boosted its position in Hawaiian Electric Industries by 203.0% during the 4th quarter. Blue Trust Inc. now owns 3,078 shares of the utilities provider’s stock worth $30,000 after acquiring an additional 2,062 shares during the period. R Squared Ltd acquired a new position in Hawaiian Electric Industries during the 4th quarter worth $36,000. Jones Financial Companies Lllp boosted its position in Hawaiian Electric Industries by 63.9% during the 4th quarter. Jones Financial Companies Lllp now owns 4,844 shares of the utilities provider’s stock worth $47,000 after acquiring an additional 1,889 shares during the period. Amalgamated Bank boosted its position in Hawaiian Electric Industries by 50.9% during the 4th quarter. Amalgamated Bank now owns 5,650 shares of the utilities provider’s stock worth $55,000 after acquiring an additional 1,905 shares during the period. Finally, Westside Investment Management Inc. boosted its position in Hawaiian Electric Industries by 422.4% during the 4th quarter. Westside Investment Management Inc. now owns 7,915 shares of the utilities provider’s stock worth $77,000 after acquiring an additional 6,400 shares during the period. Institutional investors and hedge funds own 59.91% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on HE. Wells Fargo & Company boosted their price target on 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. StockNews.com downgraded Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a research note on Tuesday, February 11th. Barclays boosted their price objective on 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. Evercore ISI raised Hawaiian Electric Industries from an “in-line” rating to an “outperform” rating and boosted their price objective for the stock from $12.00 to $14.00 in a research note on Friday, March 7th. Finally, Jefferies Financial Group dropped their price objective on Hawaiian Electric Industries from $11.50 to $10.50 and set a “hold” rating on the stock in a research note on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $12.00.

Hawaiian Electric Industries Price Performance

NYSE HE opened at $10.20 on Tuesday. Hawaiian Electric Industries, Inc. has a 1 year low of $7.61 and a 1 year high of $18.19. The stock’s 50-day moving average price is $10.58 and its two-hundred day moving average price is $10.13. The company has a market cap of $1.76 billion, a PE ratio of -0.86 and a beta of 0.51. The company has a current ratio of 0.18, a quick ratio of 0.18 and a debt-to-equity ratio of 1.80.

Hawaiian Electric Industries (NYSE:HE) last announced its earnings results on Friday, February 21st. The utilities provider reported $0.20 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.19). 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 $799.18 million during the quarter. On average, analysts predict that Hawaiian Electric Industries, Inc. will post 1.71 EPS for the current year.

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.