Voloridge Investment Management LLC Has $23.34 Million Stake in Hawaiian Electric Industries, Inc. (NYSE:HE)

Voloridge Investment Management LLC boosted its stake in shares of Hawaiian Electric Industries, Inc. (NYSE:HE - Free Report) by 22.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,398,817 shares of the utilities provider's stock after acquiring an additional 442,504 shares during the quarter. Voloridge Investment Management LLC owned approximately 1.39% of Hawaiian Electric Industries worth $23,340,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its stake in shares of Hawaiian Electric Industries by 14.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,471,522 shares of the utilities provider's stock valued at $33,778,000 after buying an additional 449,873 shares during the period. Proficio Capital Partners LLC bought a new position in Hawaiian Electric Industries in the fourth quarter valued at about $142,000. Raymond James Financial Inc. acquired a new stake in Hawaiian Electric Industries in the fourth quarter worth about $342,000. Geode Capital Management LLC increased its position in Hawaiian Electric Industries by 3.5% in the fourth quarter. Geode Capital Management LLC now owns 3,925,882 shares of the utilities provider's stock worth $38,208,000 after purchasing an additional 132,740 shares during the period. Finally, Vanguard Group Inc. raised 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 worth $177,397,000 after purchasing an additional 1,112,150 shares during the last quarter. Institutional investors own 59.91% of the company's stock.

Analyst Ratings Changes

HE has been the topic of several recent research reports. 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. Wells Fargo & Company increased their price objective on shares of Hawaiian Electric Industries from $11.00 to $12.50 and gave the company an "equal weight" rating in a report on Thursday, February 27th. Evercore ISI raised shares of Hawaiian Electric Industries from an "in-line" rating to an "outperform" rating and lifted their target price for the stock from $12.00 to $14.00 in a report on Friday, March 7th. Finally, Barclays upped their target price on shares of Hawaiian Electric Industries from $10.00 to $11.00 and gave the company an "equal weight" rating in a research report on Tuesday, March 4th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $12.00.

Hawaiian Electric Industries Trading Up 3.3%

Shares of Hawaiian Electric Industries stock traded up $0.35 during trading on Tuesday, hitting $10.96. 585,961 shares of the company were exchanged, compared to its average volume of 3,423,908. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.18 and a quick ratio of 0.18. The firm has a market capitalization of $1.89 billion, a P/E ratio of -0.93 and a beta of 0.64. The firm's fifty day moving average price is $10.43 and its 200 day moving average price is $10.18. Hawaiian Electric Industries, Inc. has a 1-year low of $7.61 and a 1-year high of $18.19.

Hawaiian Electric Industries (NYSE:HE - Get Free Report) last released its quarterly earnings data on Friday, May 9th. The utilities provider reported $0.23 earnings per share for the quarter, hitting the consensus estimate of $0.23. Hawaiian Electric Industries had a negative net margin of 35.38% and a positive return on equity of 11.12%. The business had revenue of $744.07 million for the quarter. During the same period in the previous year, the business earned $0.38 EPS. As a group, sell-side 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.