Hawaiian Electric Industries, Inc. (NYSE:HE) is Mad River Investors' 4th Largest Position

Mad River Investors boosted its holdings in shares of Hawaiian Electric Industries, Inc. (NYSE:HE - Free Report) by 910.7% in the first quarter, according to its most recent filing with the SEC. The firm owned 1,215,900 shares of the utilities provider's stock after acquiring an additional 1,095,600 shares during the period. Hawaiian Electric Industries accounts for 5.6% of Mad River Investors' portfolio, making the stock its 4th largest position. Mad River Investors owned 0.70% of Hawaiian Electric Industries worth $13,314,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Blue Trust Inc. raised its stake in Hawaiian Electric Industries by 203.0% during the 4th quarter. Blue Trust Inc. now owns 3,078 shares of the utilities provider's stock worth $30,000 after buying an additional 2,062 shares during the period. Farther Finance Advisors LLC increased its holdings 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 worth $38,000 after acquiring an additional 3,380 shares in the last quarter. Comerica Bank increased 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 worth $41,000 after purchasing an additional 1,715 shares in the last quarter. Byrne Asset Management LLC raised its holdings 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 worth $43,000 after buying an additional 987 shares during the period. Finally, Jones Financial Companies Lllp lifted its stake in Hawaiian Electric Industries by 63.9% in the fourth quarter. Jones Financial Companies Lllp now owns 4,844 shares of the utilities provider's stock valued at $47,000 after buying an additional 1,889 shares in the last quarter. Institutional investors own 59.91% of the company's stock.

Analysts Set New Price Targets

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

Hawaiian Electric Industries Price Performance

HE traded down $0.36 during trading on Wednesday, reaching $10.44. 1,924,289 shares of the company were exchanged, compared to its average volume of 3,411,412. The company's 50-day moving average is $10.51 and its two-hundred day moving average is $10.21. The company has a market cap of $1.80 billion, a price-to-earnings ratio of -0.81 and a beta of 0.64. Hawaiian Electric Industries, Inc. has a 12-month low of $7.61 and a 12-month high of $18.19. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.77.

Hawaiian Electric Industries (NYSE:HE - Get Free Report) last issued 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. The business 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 quarter last year, the company posted $0.38 earnings per share. Research analysts forecast that Hawaiian Electric Industries, Inc. will post 1.71 earnings per share for the current fiscal year.

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.