Bayforest Capital Ltd Acquires 80,350 Shares of Hawaiian Electric Industries, Inc. $HE

Key Points

• Bayforest Capital Ltd has significantly increased its stake in Hawaiian Electric Industries, by 335.4%, now holding shares worth approximately $1.14 million.
• Multiple hedge funds have also increased their holdings in Hawaiian Electric, with Allworth Financial LP raising its position by 379.3%.
• The stock currently has a consensus rating of "Hold" with a target price of $11.94, following mixed ratings from research analysts.

Bayforest Capital Ltd raised its position in shares of Hawaiian Electric Industries, Inc. (NYSE:HE - Free Report) by 335.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 104,303 shares of the utilities provider's stock after purchasing an additional 80,350 shares during the period. Hawaiian Electric Industries makes up approximately 0.5% of Bayforest Capital Ltd's investment portfolio, making the stock its 22nd biggest position. Bayforest Capital Ltd owned 0.06% of Hawaiian Electric Industries worth $1,142,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Zimmer Partners LP raised its position 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 valued at $147,921,000 after purchasing an additional 202,552 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Hawaiian Electric Industries by 6.2% during the first 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 in the last quarter. Voloridge Investment Management LLC increased its holdings in shares of Hawaiian Electric Industries by 22.6% during the fourth quarter. Voloridge Investment Management LLC now owns 2,398,817 shares of the utilities provider's stock worth $23,340,000 after buying an additional 442,504 shares in the last quarter. Two Sigma Investments LP increased its holdings in shares of Hawaiian Electric Industries by 165.6% during the fourth quarter. Two Sigma Investments LP now owns 2,043,726 shares of the utilities provider's stock worth $19,885,000 after buying an additional 1,274,119 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in shares of Hawaiian Electric Industries by 7.9% during the fourth quarter. Northern Trust Corp now owns 1,530,418 shares of the utilities provider's stock worth $14,891,000 after buying an additional 111,698 shares in the last quarter. 59.91% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently issued reports on HE shares. Jefferies Financial Group upped their price target on shares of Hawaiian Electric Industries from $11.00 to $11.25 and gave the stock a "hold" rating in a report on Wednesday, May 28th. Barclays lowered their price target on shares of Hawaiian Electric Industries from $11.00 to $10.00 and set an "equal weight" rating for the company in a report on Thursday, July 10th. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $11.94.

Hawaiian Electric Industries Trading Down 0.3%

Hawaiian Electric Industries stock traded down $0.04 during trading hours on Friday, reaching $12.11. 1,115,857 shares of the company's stock were exchanged, compared to its average volume of 2,286,505. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 1.52. The firm's 50 day simple moving average is $11.40 and its 200 day simple moving average is $10.86. Hawaiian Electric Industries, Inc. has a twelve month low of $8.14 and a twelve month high of $13.41. The firm has a market capitalization of $2.09 billion, a PE ratio of -11.99 and a beta of 0.69.

Hawaiian Electric Industries (NYSE:HE - Get Free Report) last announced 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 negative net margin of 3.66% and a positive return on equity of 10.76%. The business had revenue of $746.39 million for the quarter. Research 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.