Three Seasons Wealth LLC Buys Shares of 50,265 Hawaiian Electric Industries, Inc. (NYSE:HE)

Key Points

• Three Seasons Wealth LLC has invested approximately $550,000 in Hawaiian Electric Industries, Inc., acquiring 50,265 shares in the first quarter.
• Institutional investors, including Vanguard Group Inc. and LPL Financial LLC, have increased their stakes in Hawaiian Electric Industries, which now has nearly 60% of its stock owned by these investors.
• The company's stock (NYSE:HE) has experienced significant fluctuation, with a twelve-month low of $8.14 and a high of $16.89, and is currently trading around $10.91.

Three Seasons Wealth LLC purchased a new stake in Hawaiian Electric Industries, Inc. (NYSE:HE - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 50,265 shares of the utilities provider's stock, valued at approximately $550,000.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. raised 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 purchasing an additional 1,112,150 shares during the period. Zimmer Partners LP raised its stake in shares of Hawaiian Electric Industries by 1.4% during the 4th quarter. Zimmer Partners LP now owns 15,202,552 shares of the utilities provider's stock worth $147,921,000 after buying an additional 202,552 shares during the period. T. Rowe Price Investment Management Inc. purchased a new position in shares of Hawaiian Electric Industries during the 4th quarter valued at approximately $115,010,000. 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 period. Finally, Voloridge Investment Management LLC grew its stake in Hawaiian Electric Industries by 22.6% in the 4th quarter. Voloridge Investment Management LLC now owns 2,398,817 shares of the utilities provider's stock valued at $23,340,000 after acquiring an additional 442,504 shares during the period. Hedge funds and other institutional investors own 59.91% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on HE. Wall Street Zen raised shares of Hawaiian Electric Industries from a "sell" rating to a "hold" rating in a report on Monday, May 12th. Barclays reduced their price target on shares of 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. Finally, Jefferies Financial Group lifted their price objective on Hawaiian Electric Industries from $11.00 to $11.25 and gave the stock a "hold" rating in a report on Wednesday, May 28th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $11.94.

Hawaiian Electric Industries Price Performance

HE traded down $0.03 on Thursday, hitting $11.03. 1,491,865 shares of the company's stock were exchanged, compared to its average volume of 1,604,049. Hawaiian Electric Industries, Inc. has a fifty-two week low of $8.14 and a fifty-two week high of $16.13. The stock has a market cap of $1.90 billion, a price-to-earnings ratio of -0.85 and a beta of 0.64. The firm has a 50-day moving average price of $10.69 and a 200-day moving average price of $10.47. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 1.77.

Hawaiian Electric Industries (NYSE:HE - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The utilities provider reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.04). Hawaiian Electric Industries had a positive return on equity of 12.59% and a negative net margin of 42.60%. As a group, equities analysts anticipate that Hawaiian Electric Industries, Inc. will post 1.71 earnings per share for the current 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.