Algert Global LLC Grows Stock Position in Hawaiian Electric Industries, Inc. (NYSE:HE)

Algert Global LLC boosted its position in shares of Hawaiian Electric Industries, Inc. (NYSE:HE - Free Report) by 150.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 229,096 shares of the utilities provider's stock after acquiring an additional 137,492 shares during the quarter. Algert Global LLC owned about 0.13% of Hawaiian Electric Industries worth $2,229,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Hawaiian Electric Industries by 6.5% during the fourth 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. T. Rowe Price Investment Management Inc. acquired a new stake in Hawaiian Electric Industries during the 4th quarter valued at approximately $115,010,000. Geode Capital Management LLC boosted its holdings in shares of Hawaiian Electric Industries by 3.5% in the 4th quarter. Geode Capital Management LLC now owns 3,925,882 shares of the utilities provider's stock valued at $38,208,000 after acquiring an additional 132,740 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Hawaiian Electric Industries by 14.9% in the fourth 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. Finally, Franklin Resources Inc. raised its holdings in shares of Hawaiian Electric Industries by 656.7% during the third quarter. Franklin Resources Inc. now owns 2,722,668 shares of the utilities provider's stock worth $27,499,000 after purchasing an additional 2,362,863 shares during the last quarter. Hedge funds and other institutional investors own 59.91% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have commented on HE shares. StockNews.com lowered shares of Hawaiian Electric Industries from a "hold" rating to a "sell" rating in a report on Tuesday, February 11th. Evercore ISI raised Hawaiian Electric Industries from an "in-line" rating to an "outperform" rating and raised their target price for the stock from $12.00 to $14.00 in a report on Friday, March 7th. Barclays boosted their price target 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. Finally, Wells Fargo & Company raised their price objective on shares of Hawaiian Electric Industries from $11.00 to $12.50 and gave the stock 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 given a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $12.00.

Hawaiian Electric Industries Price Performance

NYSE HE traded up $0.08 during trading hours on Friday, reaching $10.50. The company's stock had a trading volume of 1,958,526 shares, compared to its average volume of 3,445,486. The firm has a market capitalization of $1.81 billion, a price-to-earnings ratio of -0.89 and a beta of 0.64. The company's 50-day moving average is $10.51 and its two-hundred day moving average is $10.14. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.18 and a quick ratio of 0.18. Hawaiian Electric Industries, Inc. has a 1-year low of $7.61 and a 1-year high of $18.19.

Hawaiian Electric Industries (NYSE:HE - Get Free Report) last announced its earnings results on Friday, May 9th. The utilities provider reported $0.23 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.23. The firm had revenue of $744.07 million for the quarter. Hawaiian Electric Industries had a positive return on equity of 11.12% and a negative net margin of 35.38%. During the same quarter last year, the business earned $0.38 EPS. On average, equities analysts predict that Hawaiian Electric Industries, Inc. will post 1.71 EPS for the current year.

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.