Hawaiian Electric Industries, Inc. (NYSE:HE) Shares Acquired by GAMMA Investing LLC

GAMMA Investing LLC raised its holdings in Hawaiian Electric Industries, Inc. (NYSE:HE - Free Report) by 876.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 274,659 shares of the utilities provider's stock after buying an additional 246,528 shares during the quarter. GAMMA Investing LLC owned approximately 0.16% of Hawaiian Electric Industries worth $30,080,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of HE. Charles Schwab Investment Management Inc. raised its holdings 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 worth $33,778,000 after purchasing an additional 449,873 shares during the period. Proficio Capital Partners LLC acquired a new stake in Hawaiian Electric Industries during the 4th quarter worth approximately $142,000. Raymond James Financial Inc. purchased a new position in Hawaiian Electric Industries in the fourth quarter valued at approximately $342,000. Geode Capital Management LLC lifted its position in Hawaiian Electric Industries by 3.5% during the fourth 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, Vanguard Group Inc. lifted its position in Hawaiian Electric Industries by 6.5% during the fourth quarter. Vanguard Group Inc. now owns 18,231,969 shares of the utilities provider's stock valued at $177,397,000 after buying an additional 1,112,150 shares in the last quarter. Institutional investors and hedge funds own 59.91% of the company's stock.

Hawaiian Electric Industries Stock Down 0.2%

Shares of HE stock traded down $0.02 on Friday, hitting $10.45. The stock had a trading volume of 1,177,278 shares, compared to its average volume of 3,429,637. The stock's 50 day moving average is $10.37 and its 200-day moving average is $10.21. The firm has a market capitalization of $1.80 billion, a price-to-earnings ratio of -0.88 and a beta of 0.64. Hawaiian Electric Industries, Inc. has a 52-week low of $7.61 and a 52-week high of $18.19. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.18 and a current ratio of 0.18.

Hawaiian Electric Industries (NYSE:HE - Get Free Report) last released its quarterly earnings results on Friday, May 9th. The utilities provider reported $0.23 EPS for the quarter, hitting the consensus estimate of $0.23. Hawaiian Electric Industries had a positive return on equity of 11.12% and a negative net margin of 35.38%. The business had revenue of $744.07 million for the quarter. During the same quarter last year, the firm posted $0.38 EPS. As a group, research analysts expect that Hawaiian Electric Industries, Inc. will post 1.71 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on HE shares. Wells Fargo & Company increased their price objective on shares of Hawaiian Electric Industries from $11.00 to $12.50 and gave the stock an "equal weight" rating in a research report on Thursday, February 27th. Evercore ISI upgraded Hawaiian Electric Industries from an "in-line" rating to an "outperform" rating and increased their price target for the company from $12.00 to $14.00 in a report on Friday, March 7th. Barclays raised their price objective on Hawaiian Electric Industries from $10.00 to $11.00 and gave the company an "equal weight" rating in a research report on Tuesday, March 4th. Wall Street Zen raised Hawaiian Electric Industries from a "sell" rating to a "hold" rating in a research report on Monday, May 12th. Finally, Jefferies Financial Group increased their target price 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 research analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $12.19.

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.