Diametric Capital LP Boosts Holdings in Hawaiian Electric Industries, Inc. (NYSE:HE)

Diametric Capital LP increased its holdings in Hawaiian Electric Industries, Inc. (NYSE:HE) by 628.2% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 86,019 shares of the utilities provider’s stock after buying an additional 74,207 shares during the period. Diametric Capital LP’s holdings in Hawaiian Electric Industries were worth $837,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Virtu Financial LLC purchased a new stake in shares of Hawaiian Electric Industries in the 3rd quarter valued at about $821,000. Franklin Resources Inc. lifted its position in Hawaiian Electric Industries by 656.7% during the third quarter. Franklin Resources Inc. now owns 2,722,668 shares of the utilities provider’s stock valued at $27,499,000 after purchasing an additional 2,362,863 shares during the last quarter. FMR LLC grew its stake in Hawaiian Electric Industries by 7,986.3% in the 3rd quarter. FMR LLC now owns 5,340,679 shares of the utilities provider’s stock worth $51,698,000 after buying an additional 5,274,633 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Hawaiian Electric Industries by 20.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,021,649 shares of the utilities provider’s stock worth $29,250,000 after buying an additional 514,989 shares during the last quarter. Finally, MetLife Investment Management LLC raised its position in shares of Hawaiian Electric Industries by 239.6% during the 3rd quarter. MetLife Investment Management LLC now owns 94,991 shares of the utilities provider’s stock valued at $920,000 after buying an additional 67,020 shares in the last quarter. Institutional investors own 59.91% of the company’s stock.

Hawaiian Electric Industries Price Performance

HE opened at $10.97 on Tuesday. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.18 and a quick ratio of 0.18. 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 simple moving average is $10.37 and its 200 day simple moving average is $10.16. The firm has a market cap of $1.89 billion, a price-to-earnings ratio of -0.93 and a beta of 0.46.

Hawaiian Electric Industries (NYSE:HE) last issued 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). The firm had revenue of $799.18 million during the quarter. Hawaiian Electric Industries had a positive return on equity of 11.12% and a negative net margin of 35.38%. As a group, analysts predict that Hawaiian Electric Industries, Inc. will post 1.71 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

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.