Foundry Partners LLC Acquires Shares of 630,589 Hawaiian Electric Industries, Inc. (NYSE:HE)

Foundry Partners LLC acquired a new position in shares of Hawaiian Electric Industries, Inc. (NYSE:HE - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 630,589 shares of the utilities provider's stock, valued at approximately $6,905,000. Foundry Partners LLC owned approximately 0.37% of Hawaiian Electric Industries at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Allworth Financial LP lifted its stake in shares of Hawaiian Electric Industries by 379.3% during the first quarter. Allworth Financial LP now owns 2,574 shares of the utilities provider's stock valued at $27,000 after buying an additional 2,037 shares during the period. Farther Finance Advisors LLC boosted its stake in shares of Hawaiian Electric Industries by 3,797.8% in the first quarter. Farther Finance Advisors LLC now owns 3,469 shares of the utilities provider's stock valued at $38,000 after purchasing an additional 3,380 shares during the period. Byrne Asset Management LLC boosted its stake in Hawaiian Electric Industries by 34.0% during the 1st quarter. Byrne Asset Management LLC now owns 3,887 shares of the utilities provider's stock valued at $43,000 after acquiring an additional 987 shares during the last quarter. Comerica Bank boosted its stake in Hawaiian Electric Industries by 69.3% during the 4th quarter. Comerica Bank now owns 4,189 shares of the utilities provider's stock valued at $41,000 after acquiring an additional 1,715 shares during the last quarter. Finally, Versant Capital Management Inc boosted its stake in Hawaiian Electric Industries by 197.6% during the 1st quarter. Versant Capital Management Inc now owns 4,672 shares of the utilities provider's stock valued at $51,000 after acquiring an additional 3,102 shares during the last quarter. Hedge funds and other institutional investors own 59.91% of the company's stock.

Hawaiian Electric Industries Trading Up 0.8%

NYSE:HE opened at $10.74 on Friday. Hawaiian Electric Industries, Inc. has a 12 month low of $8.14 and a 12 month high of $18.19. The firm has a market cap of $1.85 billion, a price-to-earnings ratio of -0.83 and a beta of 0.64. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.77. The company's 50 day moving average is $10.64 and its 200-day moving average is $10.29.

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

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Jefferies Financial Group raised their target price on shares of Hawaiian Electric Industries from $11.00 to $11.25 and gave the company a "hold" rating in a research note on Wednesday, May 28th. Wall Street Zen upgraded shares of Hawaiian Electric Industries from a "sell" rating to a "hold" rating in a research report on Monday, May 12th. Finally, Barclays reduced their price objective on shares of 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. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $11.94.

About Hawaiian Electric Industries

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.

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