American Century Companies Inc. Acquires 44,205 Shares of Hawaiian Electric Industries, Inc. $HE

Key Points

• American Century Companies Inc. increased its holdings in Hawaiian Electric Industries by 19.8%, acquiring an additional 44,205 shares during the 1st quarter, bringing its total to 267,865 shares valued at approximately $2.93 million.
• Other large investors also significantly boosted their investments in Hawaiian Electric, with Two Sigma Investments LP increasing its position by 165.6% in the previous quarter.
• Analysts have mixed views on Hawaiian Electric Industries, with target prices ranging from $10.00 to $11.25, and a consensus rating of "Hold" from several investment firms.

American Century Companies Inc. raised its stake in shares of Hawaiian Electric Industries, Inc. (NYSE:HE - Free Report) by 19.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 267,865 shares of the utilities provider's stock after acquiring an additional 44,205 shares during the period. American Century Companies Inc. owned about 0.16% of Hawaiian Electric Industries worth $2,933,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Zimmer Partners LP increased its position in shares of Hawaiian Electric Industries by 1.4% during the 4th quarter. Zimmer Partners LP now owns 15,202,552 shares of the utilities provider's stock valued at $147,921,000 after purchasing an additional 202,552 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Hawaiian Electric Industries by 6.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,687,636 shares of the utilities provider's stock valued at $40,380,000 after purchasing an additional 216,114 shares during the last quarter. Voloridge Investment Management LLC increased its position in shares of Hawaiian Electric Industries by 22.6% during the 4th quarter. Voloridge Investment Management LLC now owns 2,398,817 shares of the utilities provider's stock valued at $23,340,000 after purchasing an additional 442,504 shares during the last quarter. Two Sigma Investments LP increased its position in shares of Hawaiian Electric Industries by 165.6% during the 4th quarter. Two Sigma Investments LP now owns 2,043,726 shares of the utilities provider's stock valued at $19,885,000 after purchasing an additional 1,274,119 shares during the last quarter. Finally, Northern Trust Corp increased its position in shares of Hawaiian Electric Industries by 7.9% during the 4th quarter. Northern Trust Corp now owns 1,530,418 shares of the utilities provider's stock valued at $14,891,000 after purchasing an additional 111,698 shares during the last quarter. 59.91% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Barclays decreased their target price on Hawaiian Electric Industries from $11.00 to $10.00 and set an "equal weight" rating for the company in a research report on Thursday, July 10th. Wall Street Zen raised Hawaiian Electric Industries from a "sell" rating to a "hold" rating in a report on Monday, May 12th. Finally, Jefferies Financial Group lifted their price objective on Hawaiian Electric Industries from $11.00 to $11.25 and gave the stock a "hold" rating in a report on Wednesday, May 28th. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $11.94.

Hawaiian Electric Industries Price Performance

NYSE HE traded down $0.13 during trading hours on Thursday, hitting $12.31. The company had a trading volume of 792,647 shares, compared to its average volume of 2,303,347. Hawaiian Electric Industries, Inc. has a 52 week low of $8.14 and a 52 week high of $13.41. The firm has a 50 day simple moving average of $11.22 and a 200 day simple moving average of $10.79. The company has a debt-to-equity ratio of 1.52, a quick ratio of 1.07 and a current ratio of 1.07. The firm has a market capitalization of $2.12 billion, a price-to-earnings ratio of -12.18 and a beta of 0.69.

Hawaiian Electric Industries (NYSE:HE - Get Free Report) last issued its earnings results on Thursday, August 7th. The utilities provider reported $0.20 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.04). Hawaiian Electric Industries had a positive return on equity of 10.76% and a negative net margin of 3.66%.The company had revenue of $746.39 million during the quarter. Equities research analysts expect 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.