Hawaiian Electric Industries, Inc. (NYSE:HE) Stock Position Boosted by Farther Finance Advisors LLC

Farther Finance Advisors LLC boosted its stake in Hawaiian Electric Industries, Inc. (NYSE:HE) by 3,797.8% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,469 shares of the utilities provider’s stock after buying an additional 3,380 shares during the period. Farther Finance Advisors LLC’s holdings in Hawaiian Electric Industries were worth $38,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of HE. Charles Schwab Investment Management Inc. lifted its holdings in Hawaiian Electric Industries by 14.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,471,522 shares of the utilities provider’s stock valued at $33,778,000 after acquiring an additional 449,873 shares during the last quarter. Proficio Capital Partners LLC acquired a new stake in Hawaiian Electric Industries in the 4th quarter valued at about $142,000. Raymond James Financial Inc. acquired a new stake in Hawaiian Electric Industries in the 4th quarter valued at about $342,000. Geode Capital Management LLC lifted its holdings 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 last quarter. Finally, Vanguard Group Inc. lifted its holdings in 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 acquiring an additional 1,112,150 shares during the last quarter. Institutional investors own 59.91% of the company’s stock.

Hawaiian Electric Industries Price Performance

HE stock opened at $10.80 on Wednesday. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.77. Hawaiian Electric Industries, Inc. has a one year low of $7.61 and a one year high of $18.19. The firm has a market capitalization of $1.86 billion, a PE ratio of -0.84 and a beta of 0.64. The firm has a 50-day moving average of $10.51 and a two-hundred day moving average of $10.21.

Hawaiian Electric Industries (NYSE:HE) last posted its quarterly earnings data on Friday, May 9th. The utilities provider reported $0.23 EPS for the quarter, meeting analysts’ consensus estimates of $0.23. The company had revenue of $744.07 million during the quarter. Hawaiian Electric Industries had a negative net margin of 42.60% and a positive return on equity of 12.59%. During the same period in the prior year, the company posted $0.38 earnings per share. On average, analysts forecast that Hawaiian Electric Industries, Inc. will post 1.71 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Barclays upped their price target on shares of Hawaiian Electric Industries from $10.00 to $11.00 and gave the company an “equal weight” rating in a report on Tuesday, March 4th. Jefferies Financial Group upped their price target on shares of Hawaiian Electric Industries from $11.00 to $11.25 and gave the company a “hold” rating in a report on Wednesday, May 28th. Evercore ISI raised shares of Hawaiian Electric Industries from an “in-line” rating to an “outperform” rating and upped their price target for the company from $12.00 to $14.00 in a report on Friday, March 7th. Wells Fargo & Company upped their price objective on shares of Hawaiian Electric Industries from $11.00 to $12.50 and gave the company an “equal weight” rating in a research note on Thursday, February 27th. Finally, Wall Street Zen raised shares of Hawaiian Electric Industries from a “sell” rating to a “hold” rating in a research note on Monday, May 12th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $12.19.

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.