Hawaiian Electric Industries, Inc. (NYSE:HE) Shares Acquired by Bank of America Corp DE

Bank of America Corp DE grew its position in shares of Hawaiian Electric Industries, Inc. (NYSE:HE) by 59.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 736,114 shares of the utilities provider’s stock after purchasing an additional 275,229 shares during the period. Bank of America Corp DE owned approximately 0.43% of Hawaiian Electric Industries worth $7,162,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Hawaiian Electric Industries by 6.5% in the 4th quarter. Vanguard Group Inc. now owns 18,231,969 shares of the utilities provider’s stock valued at $177,397,000 after purchasing an additional 1,112,150 shares in the last quarter. T. Rowe Price Investment Management Inc. acquired a new stake in Hawaiian Electric Industries during the 4th quarter worth $115,010,000. Geode Capital Management LLC increased its position in Hawaiian Electric Industries by 3.5% in the 4th quarter. Geode Capital Management LLC now owns 3,925,882 shares of the utilities provider’s stock valued at $38,208,000 after acquiring an additional 132,740 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Hawaiian Electric Industries by 14.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,471,522 shares of the utilities provider’s stock valued at $33,778,000 after purchasing an additional 449,873 shares during the period. Finally, Horizon Kinetics Asset Management LLC acquired a new stake in shares of Hawaiian Electric Industries in the 4th quarter worth $23,153,000. 59.91% of the stock is currently owned by hedge funds and other institutional investors.

Hawaiian Electric Industries Price Performance

HE opened at $10.62 on Monday. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.18 and a current ratio of 0.18. The company has a market capitalization of $1.83 billion, a P/E ratio of -0.90 and a beta of 0.64. Hawaiian Electric Industries, Inc. has a 1-year low of $7.61 and a 1-year high of $18.19. The company has a 50-day moving average of $10.44 and a 200-day moving average of $10.18.

Hawaiian Electric Industries (NYSE:HE) last issued its earnings results on Friday, May 9th. The utilities provider reported $0.23 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.23. The firm had revenue of $744.07 million for the quarter. Hawaiian Electric Industries had a negative net margin of 35.38% and a positive return on equity of 11.12%. During the same period in the prior year, the business earned $0.38 EPS. Equities analysts expect that Hawaiian Electric Industries, Inc. will post 1.71 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on HE shares. Wells Fargo & Company increased their price objective 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. Barclays lifted 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. Wall Street Zen upgraded shares of Hawaiian Electric Industries from a “sell” rating to a “hold” rating in a report on Monday, May 12th. Finally, Evercore ISI raised shares of Hawaiian Electric Industries from an “in-line” rating to an “outperform” rating and increased their target price for the stock from $12.00 to $14.00 in a research report on Friday, March 7th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $12.00.

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.