3,740 Shares in Hawaiian Electric Industries, Inc. (NYSE:HE) Acquired by R Squared Ltd

R Squared Ltd purchased a new position in shares of Hawaiian Electric Industries, Inc. (NYSE:HE) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 3,740 shares of the utilities provider’s stock, valued at approximately $36,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Virtu Financial LLC acquired a new stake in Hawaiian Electric Industries during the 3rd quarter worth approximately $821,000. FORA Capital LLC acquired a new stake in shares of Hawaiian Electric Industries in the 3rd quarter valued at approximately $692,000. Franklin Resources Inc. lifted its holdings in shares of Hawaiian Electric Industries by 656.7% in the 3rd quarter. Franklin Resources Inc. now owns 2,722,668 shares of the utilities provider’s stock valued at $27,499,000 after buying an additional 2,362,863 shares during the period. Seven Grand Managers LLC acquired a new stake in shares of Hawaiian Electric Industries in the 3rd quarter valued at approximately $4,888,000. Finally, FMR LLC lifted its holdings in shares of 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 valued at $51,698,000 after buying an additional 5,274,633 shares during the period. Hedge funds and other institutional investors own 59.91% of the company’s stock.

Hawaiian Electric Industries Trading Up 2.2 %

Shares of HE stock opened at $9.35 on Tuesday. Hawaiian Electric Industries, Inc. has a fifty-two week low of $7.61 and a fifty-two week high of $18.19. The stock has a market cap of $1.61 billion, a P/E ratio of -0.79 and a beta of 0.53. The business has a fifty day simple moving average of $9.65 and a 200-day simple moving average of $11.00. The company has a quick ratio of 0.18, a current ratio of 0.18 and a debt-to-equity ratio of 1.80.

Hawaiian Electric Industries (NYSE:HE) last announced its quarterly 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 firm had revenue of $983.38 million during the quarter. Hawaiian Electric Industries had a negative net margin of 35.38% and a positive return on equity of 11.12%. The firm’s quarterly revenue was up 9.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.37 EPS. On average, analysts forecast that Hawaiian Electric Industries, Inc. will post 1.71 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently commented on HE. Jefferies Financial Group reduced their price target on Hawaiian Electric Industries from $11.50 to $10.50 and set a “hold” rating for the company in a report on Friday, January 3rd. Evercore ISI reduced their price target on Hawaiian Electric Industries from $11.00 to $10.00 and set an “in-line” rating for the company in a report on Tuesday, November 19th. Finally, StockNews.com cut Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a report on Wednesday, January 29th.

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.