Bank of New York Mellon Corp Increases Stock Holdings in Hawaiian Electric Industries, Inc. (NYSE:HE)

Bank of New York Mellon Corp boosted its position in shares of Hawaiian Electric Industries, Inc. (NYSE:HE - Free Report) by 5.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 576,286 shares of the utilities provider's stock after acquiring an additional 28,239 shares during the period. Bank of New York Mellon Corp owned 0.33% of Hawaiian Electric Industries worth $6,310,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of HE. Farther Finance Advisors LLC raised its stake in Hawaiian Electric Industries by 3,797.8% in the 1st quarter. Farther Finance Advisors LLC now owns 3,469 shares of the utilities provider's stock worth $38,000 after acquiring an additional 3,380 shares during the last quarter. Comerica Bank raised its position in Hawaiian Electric Industries by 69.3% during the 4th quarter. Comerica Bank now owns 4,189 shares of the utilities provider's stock worth $41,000 after buying an additional 1,715 shares during the last quarter. Byrne Asset Management LLC raised its holdings in shares of Hawaiian Electric Industries by 34.0% during the first quarter. Byrne Asset Management LLC now owns 3,887 shares of the utilities provider's stock worth $43,000 after purchasing an additional 987 shares during the last quarter. Sterling Capital Management LLC raised its holdings in shares of Hawaiian Electric Industries by 816.0% during the fourth quarter. Sterling Capital Management LLC now owns 5,221 shares of the utilities provider's stock worth $51,000 after purchasing an additional 4,651 shares during the last quarter. Finally, Versant Capital Management Inc raised its holdings in shares of Hawaiian Electric Industries by 197.6% during the first quarter. Versant Capital Management Inc now owns 4,672 shares of the utilities provider's stock worth $51,000 after purchasing an additional 3,102 shares during the last quarter. Hedge funds and other institutional investors own 59.91% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on HE shares. Jefferies Financial Group lifted their price objective on shares of Hawaiian Electric Industries from $11.00 to $11.25 and gave the company a "hold" rating in a report on Wednesday, May 28th. Barclays cut their price target on Hawaiian Electric Industries from $11.00 to $10.00 and set an "equal weight" rating for the company in a research note on Thursday, July 10th. Finally, Wall Street Zen upgraded Hawaiian Electric Industries from a "sell" rating to a "hold" rating in a research report on Monday, May 12th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, Hawaiian Electric Industries currently has a consensus rating of "Hold" and a consensus target price of $11.94.

Hawaiian Electric Industries Price Performance

Shares of HE stock traded up $0.05 on Friday, reaching $10.83. 1,348,397 shares of the company were exchanged, compared to its average volume of 1,770,828. Hawaiian Electric Industries, Inc. has a 1 year low of $8.14 and a 1 year high of $17.01. The business has a 50-day moving average price of $10.66 and a 200 day moving average price of $10.35. The company has a debt-to-equity ratio of 1.77, a quick ratio of 1.25 and a current ratio of 1.25. The company has a market cap of $1.87 billion, a price-to-earnings ratio of -0.84 and a beta of 0.64.

Hawaiian Electric Industries (NYSE:HE - Get Free Report) last posted its quarterly earnings data 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 12.59% and a negative net margin of 42.60%. The company had revenue of $744.07 million during the quarter. During the same quarter last year, the firm posted $0.38 earnings per share. Equities research analysts forecast 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.