Van ECK Associates Corp Acquires 17,055 Shares of Hawaiian Electric Industries, Inc. (NYSE:HE)

Van ECK Associates Corp grew its holdings in Hawaiian Electric Industries, Inc. (NYSE:HE) by 59.9% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 45,536 shares of the utilities provider’s stock after purchasing an additional 17,055 shares during the quarter. Van ECK Associates Corp’s holdings in Hawaiian Electric Industries were worth $443,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of HE. Oppenheimer & Co. Inc. grew its stake in Hawaiian Electric Industries by 14.4% in the first quarter. Oppenheimer & Co. Inc. now owns 31,000 shares of the utilities provider’s stock valued at $349,000 after purchasing an additional 3,900 shares during the last quarter. Inspire Investing LLC purchased a new position in shares of Hawaiian Electric Industries in the 1st quarter worth approximately $357,000. Headlands Technologies LLC bought a new position in shares of Hawaiian Electric Industries during the 1st quarter worth approximately $222,000. State Board of Administration of Florida Retirement System lifted its position in Hawaiian Electric Industries by 18.4% during the first quarter. State Board of Administration of Florida Retirement System now owns 156,734 shares of the utilities provider’s stock valued at $1,766,000 after acquiring an additional 24,328 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp boosted its stake in Hawaiian Electric Industries by 31.2% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 13,265 shares of the utilities provider’s stock valued at $147,000 after acquiring an additional 3,156 shares in the last quarter. Hedge funds and other institutional investors own 59.91% of the company’s stock.

Hawaiian Electric Industries Trading Up 1.3 %

NYSE HE opened at $10.10 on Wednesday. Hawaiian Electric Industries, Inc. has a 12-month low of $7.61 and a 12-month high of $18.19. The company has a fifty day simple moving average of $10.42 and a two-hundred day simple moving average of $11.15. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 2.62. The stock has a market cap of $1.11 billion, a P/E ratio of -0.85 and a beta of 0.53.

Hawaiian Electric Industries (NYSE:HE) last issued its earnings results on Friday, November 8th. The utilities provider reported $0.46 earnings per share (EPS) 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 positive return on equity of 10.69% and a negative net margin of 31.76%. Hawaiian Electric Industries’s revenue was up 9.0% compared to the same quarter last year. During the same period last year, the business earned $0.37 EPS.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on HE shares. Evercore ISI upped their price target on Hawaiian Electric Industries from $9.00 to $11.00 and gave the stock an “in-line” rating in a research report on Monday. Wells Fargo & Company reduced their target price on Hawaiian Electric Industries from $14.00 to $11.50 and set an “equal weight” rating on the stock in a research report on Monday, September 30th. Finally, StockNews.com downgraded Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a report on Friday, October 4th.

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.