Edgestream Partners L.P. Grows Stock Holdings in Hawaiian Electric Industries, Inc. (NYSE:HE)

Edgestream Partners L.P. lifted its holdings in shares of Hawaiian Electric Industries, Inc. (NYSE:HE - Free Report) by 111.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 385,255 shares of the utilities provider's stock after buying an additional 203,456 shares during the period. Edgestream Partners L.P. owned about 0.22% of Hawaiian Electric Industries worth $4,219,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of HE. Janney Montgomery Scott LLC increased its holdings in Hawaiian Electric Industries by 269.7% in the first quarter. Janney Montgomery Scott LLC now owns 67,720 shares of the utilities provider's stock valued at $742,000 after buying an additional 49,400 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in shares of Hawaiian Electric Industries by 123.9% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 88,172 shares of the utilities provider's stock worth $965,000 after buying an additional 48,792 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Hawaiian Electric Industries in the 4th quarter worth about $342,000. Geode Capital Management LLC grew its stake in 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 acquiring an additional 132,740 shares during the last quarter. Finally, Vanguard Group Inc. increased its holdings in Hawaiian Electric Industries by 6.5% during the 4th quarter. Vanguard Group Inc. now owns 18,231,969 shares of the utilities provider's stock valued at $177,397,000 after acquiring an additional 1,112,150 shares in the last quarter. 59.91% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

HE has been the subject of several research reports. Barclays cut 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 report on Thursday, July 10th. Jefferies Financial Group upped their price objective on Hawaiian Electric Industries from $11.00 to $11.25 and gave the company a "hold" rating in a research report on Wednesday, May 28th. Finally, Wall Street Zen raised shares of Hawaiian Electric Industries from a "sell" rating to a "hold" rating in a research note on Monday, May 12th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $11.94.

Hawaiian Electric Industries Trading Down 0.2%

Hawaiian Electric Industries stock traded down $0.03 during trading on Thursday, hitting $10.67. The company's stock had a trading volume of 677,662 shares, compared to its average volume of 3,148,805. The stock's fifty day moving average is $10.63 and its 200 day moving average is $10.28. The company has a debt-to-equity ratio of 1.77, a quick ratio of 1.25 and a current ratio of 1.25. Hawaiian Electric Industries, Inc. has a 1-year low of $8.14 and a 1-year high of $18.19. The stock has a market capitalization of $1.84 billion, a price-to-earnings ratio of -0.83 and a beta of 0.64.

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, hitting the consensus estimate of $0.23. The firm had revenue of $744.07 million during the quarter. Hawaiian Electric Industries had a negative net margin of 42.60% and a positive return on equity of 12.59%. During the same period last year, the company posted $0.38 EPS. As a group, equities research analysts predict that Hawaiian Electric Industries, Inc. will post 1.71 EPS 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.