Bank of America Corp DE Acquires 275,229 Shares of Hawaiian Electric Industries, Inc. (NYSE:HE)

Bank of America Corp DE increased its stake in Hawaiian Electric Industries, Inc. (NYSE:HE - Free Report) by 59.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 736,114 shares of the utilities provider's stock after purchasing an additional 275,229 shares during the period. Bank of America Corp DE owned approximately 0.43% of Hawaiian Electric Industries worth $7,162,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of HE. T. Rowe Price Investment Management Inc. purchased a new stake in shares of Hawaiian Electric Industries in the 4th quarter valued at about $115,010,000. Horizon Kinetics Asset Management LLC purchased a new stake in Hawaiian Electric Industries during the fourth quarter valued at $23,153,000. Burkehill Global Management LP purchased a new stake in Hawaiian Electric Industries during the fourth quarter valued at $19,460,000. Vanguard Group Inc. increased its holdings 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 in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp increased its holdings in Hawaiian Electric Industries by 196.1% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,222,532 shares of the utilities provider's stock worth $11,895,000 after acquiring an additional 809,601 shares in the last quarter. Institutional investors own 59.91% of the company's stock.

Analyst Upgrades and Downgrades

HE has been the subject of a number of analyst reports. Wells Fargo & Company raised their price target on 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 raised Hawaiian Electric Industries from an "in-line" rating to an "outperform" rating and boosted their price target for the company from $12.00 to $14.00 in a report on Friday, March 7th. Wall Street Zen raised Hawaiian Electric Industries from a "sell" rating to a "hold" rating in a research note on Monday, May 12th. Barclays boosted their price target on Hawaiian Electric Industries from $10.00 to $11.00 and gave the stock an "equal weight" rating in a research report on Tuesday, March 4th. Finally, Jefferies Financial Group upped their target price on Hawaiian Electric Industries from $11.00 to $11.25 and gave the company a "hold" rating in a report on Wednesday. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat, Hawaiian Electric Industries has a consensus rating of "Hold" and a consensus price target of $12.19.

Hawaiian Electric Industries Trading Down 0.7%

NYSE:HE traded down $0.08 on Friday, hitting $10.80. 148,016 shares of the stock were exchanged, compared to its average volume of 3,417,550. The stock has a market cap of $1.86 billion, a PE ratio of -0.91 and a beta of 0.64. The company has a current ratio of 0.18, a quick ratio of 0.18 and a debt-to-equity ratio of 1.80. The stock has a fifty day moving average of $10.42 and a 200-day moving average of $10.19. Hawaiian Electric Industries, Inc. has a fifty-two week low of $7.61 and a fifty-two week high of $18.19.

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