Gallo Partners LP Purchases New Position in Hawaiian Electric Industries, Inc. (NYSE:HE)

Gallo Partners LP purchased a new position in shares of Hawaiian Electric Industries, Inc. (NYSE:HE - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 229,883 shares of the utilities provider's stock, valued at approximately $2,237,000. Hawaiian Electric Industries makes up about 1.6% of Gallo Partners LP's holdings, making the stock its 26th largest holding. Gallo Partners LP owned 0.13% of Hawaiian Electric Industries as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in HE. Barclays PLC boosted its stake in Hawaiian Electric Industries by 48.5% during the 3rd quarter. Barclays PLC now owns 255,618 shares of the utilities provider's stock worth $2,475,000 after purchasing an additional 83,496 shares during the last quarter. Virtu Financial LLC purchased a new stake in Hawaiian Electric Industries during the 3rd quarter valued at about $821,000. Sanctuary Advisors LLC acquired a new stake in Hawaiian Electric Industries in the 3rd quarter valued at about $112,000. Peapack Gladstone Financial Corp purchased a new position in Hawaiian Electric Industries in the 3rd quarter worth approximately $184,000. Finally, Franklin Resources Inc. boosted its holdings in shares of Hawaiian Electric Industries by 656.7% during the 3rd quarter. Franklin Resources Inc. now owns 2,722,668 shares of the utilities provider's stock worth $27,499,000 after purchasing an additional 2,362,863 shares during the last quarter. Institutional investors and hedge funds own 59.91% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently commented on HE. Wells Fargo & Company increased their price target on 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 upgraded Hawaiian Electric Industries from an "in-line" rating to an "outperform" rating and lifted their price target for the stock from $12.00 to $14.00 in a report on Friday, March 7th. Barclays upped their price objective on shares of Hawaiian Electric Industries from $10.00 to $11.00 and gave the company an "equal weight" rating in a report on Tuesday, March 4th. Finally, StockNews.com downgraded shares of Hawaiian Electric Industries from a "hold" rating to a "sell" rating in a research note on Tuesday, February 11th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Hawaiian Electric Industries currently has a consensus rating of "Hold" and a consensus target price of $12.00.

Hawaiian Electric Industries Trading Up 1.4 %

Shares of Hawaiian Electric Industries stock traded up $0.15 on Monday, reaching $10.36. The company had a trading volume of 748,633 shares, compared to its average volume of 3,445,872. Hawaiian Electric Industries, Inc. has a 52-week low of $7.61 and a 52-week high of $18.19. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.18 and a current ratio of 0.18. The firm's 50 day moving average price is $10.54 and its two-hundred day moving average price is $10.13. The firm has a market cap of $1.79 billion, a PE ratio of -0.88 and a beta of 0.64.

Hawaiian Electric Industries (NYSE:HE - Get Free Report) last issued its quarterly earnings results on Friday, February 21st. The utilities provider reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.19). Hawaiian Electric Industries had a positive return on equity of 11.12% and a negative net margin of 35.38%. The business had revenue of $799.18 million for the quarter. Sell-side analysts predict 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.