Bayforest Capital Ltd Increases Stock Holdings in Hawaiian Electric Industries, Inc. (NYSE:HE)

Bayforest Capital Ltd grew its stake in Hawaiian Electric Industries, Inc. (NYSE:HE - Free Report) by 335.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 104,303 shares of the utilities provider's stock after buying an additional 80,350 shares during the quarter. Hawaiian Electric Industries makes up 0.5% of Bayforest Capital Ltd's portfolio, making the stock its 18th biggest holding. Bayforest Capital Ltd owned 0.06% of Hawaiian Electric Industries worth $1,142,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. increased its stake in Hawaiian Electric Industries by 6.5% in the 4th quarter. Vanguard Group Inc. now owns 18,231,969 shares of the utilities provider's stock worth $177,397,000 after acquiring an additional 1,112,150 shares during the last quarter. Zimmer Partners LP increased its stake in Hawaiian Electric Industries by 1.4% in the 4th quarter. Zimmer Partners LP now owns 15,202,552 shares of the utilities provider's stock worth $147,921,000 after acquiring an additional 202,552 shares during the last quarter. T. Rowe Price Investment Management Inc. bought a new stake in Hawaiian Electric Industries in the 4th quarter worth approximately $115,010,000. Geode Capital Management LLC lifted its stake 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 purchasing an additional 132,740 shares during the last quarter. Finally, Voloridge Investment Management LLC lifted its stake in shares of Hawaiian Electric Industries by 22.6% in 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. Hedge funds and other institutional investors own 59.91% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Barclays lowered their price objective on Hawaiian Electric Industries from $11.00 to $10.00 and set an "equal weight" rating for the company in a research note on Thursday, July 10th. Wall Street Zen raised Hawaiian Electric Industries from a "sell" rating to a "hold" rating in a research note on Monday, May 12th. Finally, 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. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $11.94.

Hawaiian Electric Industries Stock Up 0.1%

NYSE HE traded up $0.01 on Friday, reaching $10.73. 1,382,230 shares of the stock traded hands, compared to its average volume of 1,498,516. 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 company has a fifty day moving average price of $10.67 and a 200-day moving average price of $10.42. The company has a market cap of $1.85 billion, a price-to-earnings ratio of -0.83 and a beta of 0.64. Hawaiian Electric Industries, Inc. has a 12 month low of $8.14 and a 12 month high of $16.89.

Hawaiian Electric Industries (NYSE:HE - Get Free Report) last issued its earnings results on Friday, May 9th. The utilities provider reported $0.23 earnings per share for the quarter, meeting analysts' consensus estimates of $0.23. The business had revenue of $744.07 million during the quarter. Hawaiian Electric Industries had a positive return on equity of 12.59% and a negative net margin of 42.60%. During the same period last year, the firm earned $0.38 earnings per share. As a group, research analysts forecast that Hawaiian Electric Industries, Inc. will post 1.71 EPS for the current fiscal year.

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.