Lesa Sroufe & Co Makes New Investment in Hawaiian Electric Industries, Inc. (NYSE:HE)

Lesa Sroufe & Co purchased a new stake in Hawaiian Electric Industries, Inc. (NYSE:HE - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 182,120 shares of the utilities provider's stock, valued at approximately $1,994,000. Hawaiian Electric Industries makes up approximately 2.0% of Lesa Sroufe & Co's portfolio, making the stock its 19th largest holding. Lesa Sroufe & Co owned approximately 0.11% of Hawaiian Electric Industries as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Vanguard Group Inc. grew its holdings in shares of 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 in the last quarter. Zimmer Partners LP grew its stake in Hawaiian Electric Industries by 1.4% during the fourth quarter. Zimmer Partners LP now owns 15,202,552 shares of the utilities provider's stock worth $147,921,000 after buying an additional 202,552 shares in the last quarter. T. Rowe Price Investment Management Inc. bought a new position in Hawaiian Electric Industries in the 4th quarter valued at about $115,010,000. Geode Capital Management LLC raised its position 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 buying an additional 132,740 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of 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 valued at $33,778,000 after buying an additional 449,873 shares in the last quarter. 59.91% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

HE has been the topic of a number of recent analyst reports. Wells Fargo & Company lifted their price objective on shares of 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. Barclays lifted their price target on Hawaiian Electric Industries from $10.00 to $11.00 and gave the company an "equal weight" rating in a research note on Tuesday, March 4th. Evercore ISI upgraded Hawaiian Electric Industries from an "in-line" rating to an "outperform" rating and upped their price objective for the stock from $12.00 to $14.00 in a research report on Friday, March 7th. Jefferies Financial Group raised their price objective on Hawaiian Electric Industries from $11.00 to $11.25 and gave the company a "hold" rating in a research note on Wednesday, May 28th. Finally, Wall Street Zen raised Hawaiian Electric Industries from a "sell" rating to a "hold" rating in a research note on Monday, May 12th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $12.19.

Hawaiian Electric Industries Trading Up 0.2%

Shares of NYSE:HE traded up $0.03 during midday trading on Friday, hitting $10.37. 1,865,888 shares of the stock were exchanged, compared to its average volume of 3,412,844. The business's 50-day moving average price is $10.47 and its 200 day moving average price is $10.20. Hawaiian Electric Industries, Inc. has a 12 month low of $7.61 and a 12 month high of $18.19. The company has a debt-to-equity ratio of 1.77, a quick ratio of 1.25 and a current ratio of 1.25. The stock has a market capitalization of $1.79 billion, a price-to-earnings ratio of -0.80 and a beta of 0.64.

Hawaiian Electric Industries (NYSE:HE - Get Free Report) last announced its quarterly earnings results on Friday, May 9th. The utilities provider reported $0.23 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.23. The firm had revenue of $744.07 million during the quarter. Hawaiian Electric Industries had a negative net margin of 42.60% and a positive return on equity of 12.59%. During the same quarter last year, the company posted $0.38 earnings per share. Analysts predict that Hawaiian Electric Industries, Inc. will post 1.71 earnings per share for the current 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.