Geode Capital Management LLC Purchases 1,253,143 Shares of Hawaiian Electric Industries, Inc. (NYSE:HE)

Geode Capital Management LLC lifted its position in Hawaiian Electric Industries, Inc. (NYSE:HE) by 49.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,793,142 shares of the utilities provider’s stock after purchasing an additional 1,253,143 shares during the period. Geode Capital Management LLC’s holdings in Hawaiian Electric Industries were worth $36,725,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of HE. Zimmer Partners LP purchased a new stake in Hawaiian Electric Industries in the 3rd quarter worth $145,200,000. AQR Capital Management LLC boosted its stake in shares of Hawaiian Electric Industries by 52.8% in the second quarter. AQR Capital Management LLC now owns 6,693,424 shares of the utilities provider’s stock worth $60,308,000 after acquiring an additional 2,312,950 shares during the period. FMR LLC grew its position in shares of Hawaiian Electric Industries by 7,986.3% during the third quarter. FMR LLC now owns 5,340,679 shares of the utilities provider’s stock worth $51,698,000 after purchasing an additional 5,274,633 shares in the last quarter. State Street Corp raised its stake in 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 purchasing an additional 556,747 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in 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 purchasing an additional 514,989 shares in the last quarter. 59.91% of the stock is currently owned by institutional investors.

Hawaiian Electric Industries Trading Down 0.4 %

HE stock opened at $9.86 on Wednesday. The firm has a fifty day moving average price of $10.24 and a 200 day moving average price of $11.09. Hawaiian Electric Industries, Inc. has a fifty-two week low of $7.61 and a fifty-two week high of $18.19. The firm has a market cap of $1.70 billion, a PE ratio of -0.83 and a beta of 0.53. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.18 and a current ratio of 0.18.

Hawaiian Electric Industries (NYSE:HE) last posted its earnings results on Friday, November 8th. The utilities provider reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.07). The business had revenue of $983.38 million during the quarter. Hawaiian Electric Industries had a positive return on equity of 11.12% and a negative net margin of 35.38%. The firm’s revenue was up 9.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.37 EPS. Sell-side analysts anticipate that Hawaiian Electric Industries, Inc. will post 1.71 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

HE has been the subject of a number of research analyst reports. Wells Fargo & Company cut their price objective on shares of Hawaiian Electric Industries from $14.00 to $11.50 and set an “equal weight” rating for the company in a report on Monday, September 30th. Evercore ISI cut their target price on shares of Hawaiian Electric Industries from $11.00 to $10.00 and set an “in-line” rating for the company in a research note on Tuesday, November 19th. StockNews.com upgraded shares of Hawaiian Electric Industries from a “sell” rating to a “hold” rating in a research note on Tuesday, December 17th. Finally, Jefferies Financial Group assumed coverage on Hawaiian Electric Industries in a research report on Tuesday, December 3rd. They set a “hold” rating and a $11.50 price objective for the company.

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.