Wells Fargo & Company MN Grows Stock Position in Hawaiian Electric Industries, Inc. (NYSE:HE)

Wells Fargo & Company MN grew its holdings in Hawaiian Electric Industries, Inc. (NYSE:HE - Free Report) by 23.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 135,158 shares of the utilities provider's stock after acquiring an additional 25,750 shares during the period. Wells Fargo & Company MN owned about 0.08% of Hawaiian Electric Industries worth $1,315,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Barclays PLC raised its holdings in Hawaiian Electric Industries by 48.5% in the third quarter. Barclays PLC now owns 255,618 shares of the utilities provider's stock valued at $2,475,000 after acquiring an additional 83,496 shares in the last quarter. Virtu Financial LLC purchased a new stake in shares of Hawaiian Electric Industries in the 3rd quarter valued at approximately $821,000. Sanctuary Advisors LLC acquired a new stake in shares of Hawaiian Electric Industries in the 3rd quarter valued at $112,000. Peapack Gladstone Financial Corp purchased a new stake in shares of Hawaiian Electric Industries during the 3rd quarter worth $184,000. Finally, Franklin Resources Inc. grew its stake in shares of Hawaiian Electric Industries by 656.7% during the third 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 in the last quarter. Hedge funds and other institutional investors own 59.91% of the company's stock.

Hawaiian Electric Industries Stock Performance

NYSE:HE traded down $0.27 during mid-day trading on Thursday, reaching $10.23. 1,954,420 shares of the stock were exchanged, compared to its average volume of 3,452,464. The company has a quick ratio of 0.18, a current ratio of 0.18 and a debt-to-equity ratio of 1.80. Hawaiian Electric Industries, Inc. has a 1 year low of $7.61 and a 1 year high of $18.19. The company has a 50 day simple moving average of $10.57 and a 200-day simple moving average of $10.13. The stock has a market capitalization of $1.76 billion, a P/E ratio of -0.86 and a beta of 0.51.

Hawaiian Electric Industries (NYSE:HE - Get Free Report) last announced its earnings results on Friday, February 21st. The utilities provider reported $0.20 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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. Analysts anticipate that Hawaiian Electric Industries, Inc. will post 1.71 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

HE has been the subject of a number of recent analyst reports. Barclays lifted their price target on Hawaiian Electric Industries from $10.00 to $11.00 and gave the stock an "equal weight" rating in a report on Tuesday, March 4th. Jefferies Financial Group decreased their target price on Hawaiian Electric Industries from $11.50 to $10.50 and set a "hold" rating for the company in a research note on Friday, January 3rd. Wells Fargo & Company increased their price target on shares of 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. StockNews.com downgraded shares of Hawaiian Electric Industries from a "hold" rating to a "sell" rating in a research report on Tuesday, February 11th. Finally, Evercore ISI raised shares of Hawaiian Electric Industries from an "in-line" rating to an "outperform" rating and increased their target price for the company from $12.00 to $14.00 in a research report on Friday, March 7th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Hawaiian Electric Industries has an average rating of "Hold" and an average target price of $12.00.

Hawaiian Electric Industries Company 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.