Balyasny Asset Management L.P. Purchases New Position in Hawaiian Electric Industries, Inc. (NYSE:HE)

Balyasny Asset Management L.P. acquired a new stake in Hawaiian Electric Industries, Inc. (NYSE:HE - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 55,000 shares of the utilities provider's stock, valued at approximately $535,000.

A number of other institutional investors also recently added to or reduced their stakes in HE. Blue Trust Inc. raised its position in shares of 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 purchasing an additional 2,062 shares during the last quarter. R Squared Ltd acquired a new position in shares of Hawaiian Electric Industries during the 4th quarter worth approximately $36,000. Comerica Bank raised its position in shares of Hawaiian Electric Industries by 69.3% during the 4th quarter. Comerica Bank now owns 4,189 shares of the utilities provider's stock worth $41,000 after purchasing an additional 1,715 shares during the last quarter. Jones Financial Companies Lllp raised its position in shares of Hawaiian Electric Industries by 63.9% during the 4th quarter. Jones Financial Companies Lllp now owns 4,844 shares of the utilities provider's stock worth $47,000 after purchasing an additional 1,889 shares during the last quarter. Finally, Sterling Capital Management LLC raised its holdings in Hawaiian Electric Industries by 816.0% in the 4th quarter. Sterling Capital Management LLC now owns 5,221 shares of the utilities provider's stock valued at $51,000 after acquiring an additional 4,651 shares during the last quarter. Hedge funds and other institutional investors own 59.91% of the company's stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Evercore ISI upgraded Hawaiian Electric Industries from an "in-line" rating to an "outperform" rating and boosted their price target for the company 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. StockNews.com upgraded Hawaiian Electric Industries from a "sell" rating to a "hold" rating in a report on Monday, May 12th. Finally, Wells Fargo & Company boosted their price target on Hawaiian Electric Industries from $11.00 to $12.50 and gave the company an "equal weight" rating in a report on Thursday, February 27th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $12.00.

Hawaiian Electric Industries Trading Down 1.9%

Shares of NYSE HE traded down $0.21 during trading on Wednesday, hitting $10.62. 225,226 shares of the company traded hands, compared to its average volume of 3,414,377. Hawaiian Electric Industries, Inc. has a 1 year low of $7.61 and a 1 year high of $18.19. The company has a 50-day moving average price of $10.47 and a 200-day moving average price of $10.17. The firm has a market capitalization of $1.83 billion, a P/E ratio of -0.90 and a beta of 0.64. 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 - Get Free Report) last announced its quarterly earnings data on Friday, May 9th. The utilities provider reported $0.23 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.23. Hawaiian Electric Industries had a negative net margin of 35.38% and a positive return on equity of 11.12%. The company had revenue of $744.07 million during the quarter. During the same period in the prior year, the firm earned $0.38 earnings per share. 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.