Potentia Wealth Makes New $263,000 Investment in Hawaiian Electric Industries, Inc. (NYSE:HE)

Potentia Wealth purchased a new position in shares of Hawaiian Electric Industries, Inc. (NYSE:HE) during the 4th quarter, HoldingsChannel reports. The firm purchased 27,004 shares of the utilities provider’s stock, valued at approximately $263,000.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Hawaiian Electric Industries by 6.5% during the 4th quarter. Vanguard Group Inc. now owns 18,231,969 shares of the utilities provider’s stock worth $177,397,000 after purchasing an additional 1,112,150 shares during the period. Zimmer Partners LP purchased a new stake in shares of Hawaiian Electric Industries in the third quarter valued at about $145,200,000. FMR LLC increased its position in Hawaiian Electric Industries by 7,986.3% during the 3rd 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. Geode Capital Management LLC raised its position in shares of Hawaiian Electric Industries by 49.3% in the third quarter. Geode Capital Management LLC now owns 3,793,142 shares of the utilities provider’s stock valued at $36,725,000 after buying an additional 1,253,143 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake 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 worth $33,778,000 after acquiring an additional 449,873 shares during the period. Institutional investors and hedge funds own 59.91% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on HE. StockNews.com downgraded Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a report on Tuesday, February 11th. 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. Jefferies Financial Group decreased their target price on Hawaiian Electric Industries from $11.50 to $10.50 and set a “hold” rating for the company in a research note on Friday, January 3rd. Wells Fargo & Company lifted their target price on 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, Barclays lifted 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 research report on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $12.00.

Hawaiian Electric Industries Stock Up 1.5 %

HE stock opened at $11.12 on Tuesday. The business has a 50 day moving average price of $10.17 and a two-hundred day moving average price of $10.16. The company has a market cap of $1.92 billion, a price-to-earnings ratio of -0.94 and a beta of 0.46. 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, Inc. has a twelve month low of $7.61 and a twelve month high of $18.19.

Hawaiian Electric Industries (NYSE:HE) last announced its quarterly earnings results on Friday, February 21st. The utilities provider reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.19). The company had revenue of $799.18 million for the quarter. Hawaiian Electric Industries had a negative net margin of 35.38% and a positive return on equity of 11.12%. Analysts anticipate that Hawaiian Electric Industries, Inc. will post 1.71 EPS for the current fiscal year.

Hawaiian Electric Industries 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.