Quantbot Technologies LP Increases Position in Hawaiian Electric Industries, Inc. (NYSE:HE)

Quantbot Technologies LP increased its stake in shares of Hawaiian Electric Industries, Inc. (NYSE:HE) by 195.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 428,646 shares of the utilities provider’s stock after buying an additional 283,722 shares during the quarter. Quantbot Technologies LP’s holdings in Hawaiian Electric Industries were worth $4,171,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Blue Trust Inc. lifted its position in Hawaiian Electric Industries by 203.0% during the 4th quarter. Blue Trust Inc. now owns 3,078 shares of the utilities provider’s stock worth $30,000 after acquiring an additional 2,062 shares during the period. R Squared Ltd purchased a new stake in shares of Hawaiian Electric Industries during the fourth quarter worth approximately $36,000. KBC Group NV lifted its holdings in shares of Hawaiian Electric Industries by 34.8% during the third quarter. KBC Group NV now owns 3,956 shares of the utilities provider’s stock worth $38,000 after purchasing an additional 1,021 shares during the period. Quarry LP grew its position in Hawaiian Electric Industries by 156.6% in the 3rd quarter. Quarry LP now owns 4,503 shares of the utilities provider’s stock valued at $44,000 after buying an additional 2,748 shares during the last quarter. Finally, Jones Financial Companies Lllp grew its position in Hawaiian Electric Industries by 63.9% in the 4th quarter. Jones Financial Companies Lllp now owns 4,844 shares of the utilities provider’s stock valued at $47,000 after buying an additional 1,889 shares during the last quarter. Hedge funds and other institutional investors own 59.91% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on HE shares. Jefferies Financial Group cut their price objective 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. Evercore ISI raised shares of Hawaiian Electric Industries from an “in-line” rating to an “outperform” rating and increased their price target for the stock from $12.00 to $14.00 in a report on Friday, March 7th. Barclays lifted their price objective on Hawaiian Electric Industries from $10.00 to $11.00 and gave the company an “equal weight” rating in a report on Tuesday, March 4th. StockNews.com downgraded Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a research note on Tuesday, February 11th. Finally, Wells Fargo & Company lifted their price target 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. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $12.00.

Hawaiian Electric Industries Trading Down 0.9 %

Shares of HE opened at $10.98 on Friday. Hawaiian Electric Industries, Inc. has a twelve month low of $7.61 and a twelve month high of $18.19. The company has a current ratio of 0.18, a quick ratio of 0.18 and a debt-to-equity ratio of 1.80. The firm has a market capitalization of $1.89 billion, a P/E ratio of -0.93 and a beta of 0.46. The firm’s 50-day moving average is $10.11 and its two-hundred day moving average is $10.19.

Hawaiian Electric Industries (NYSE:HE) last released its quarterly earnings results on Friday, February 21st. The utilities provider reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates 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%. On average, research analysts predict that Hawaiian Electric Industries, Inc. will post 1.71 earnings per share for the current fiscal year.

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.