Evercore Wealth Management LLC Invests $243,000 in Hawaiian Electric Industries, Inc. (NYSE:HE)

Evercore Wealth Management LLC purchased a new stake in shares of Hawaiian Electric Industries, Inc. (NYSE:HE - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 25,000 shares of the utilities provider's stock, valued at approximately $243,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Virtu Financial LLC purchased a new stake in Hawaiian Electric Industries during the third quarter valued at approximately $821,000. Franklin Resources Inc. increased its holdings in 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 valued at $27,499,000 after buying an additional 2,362,863 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 purchasing an additional 449,873 shares in the last quarter. Mad River Investors purchased a new stake in shares of Hawaiian Electric Industries in the fourth quarter worth $1,171,000. Finally, Proficio Capital Partners LLC purchased a new stake in shares of Hawaiian Electric Industries in the fourth quarter worth $142,000. 59.91% of the stock is currently owned by institutional investors.

Hawaiian Electric Industries Price Performance

HE traded up $0.19 during trading on Tuesday, hitting $10.40. 571,624 shares of the company traded hands, compared to its average volume of 3,455,736. Hawaiian Electric Industries, Inc. has a 1 year low of $7.61 and a 1 year 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 stock's 50-day simple moving average is $10.58 and its two-hundred day simple moving average is $10.13. The company has a market cap of $1.79 billion, a PE ratio of -0.88 and a beta of 0.51.

Hawaiian Electric Industries (NYSE:HE - Get Free Report) last released its quarterly earnings data on Friday, February 21st. The utilities provider reported $0.20 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.19). Hawaiian Electric Industries had a negative net margin of 35.38% and a positive return on equity of 11.12%. The business had revenue of $799.18 million for the quarter. As a group, sell-side analysts anticipate that Hawaiian Electric Industries, Inc. will post 1.71 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on HE. Barclays increased 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 note on Tuesday, March 4th. Wells Fargo & Company increased 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. StockNews.com cut shares of Hawaiian Electric Industries from a "hold" rating to a "sell" rating in a research note on Tuesday, February 11th. Jefferies Financial Group cut their target price on shares of 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. Finally, Evercore ISI raised shares of Hawaiian Electric Industries from an "in-line" rating to an "outperform" rating and raised their target price for the company from $12.00 to $14.00 in a research note on Friday, March 7th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $12.00.

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.