Northern Trust Corp Buys 111,698 Shares of Hawaiian Electric Industries, Inc. (NYSE:HE)

Northern Trust Corp boosted its stake in Hawaiian Electric Industries, Inc. (NYSE:HE - Free Report) by 7.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,530,418 shares of the utilities provider's stock after purchasing an additional 111,698 shares during the period. Northern Trust Corp owned about 0.89% of Hawaiian Electric Industries worth $14,891,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Blue Trust Inc. grew its position in shares of 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. R Squared Ltd bought a new stake in Hawaiian Electric Industries in the fourth quarter valued at $36,000. Jones Financial Companies Lllp raised its holdings in shares of Hawaiian Electric Industries by 63.9% during the fourth quarter. Jones Financial Companies Lllp now owns 4,844 shares of the utilities provider's stock valued at $47,000 after purchasing an additional 1,889 shares during the period. Sterling Capital Management LLC boosted its position in shares of Hawaiian Electric Industries by 816.0% during the 4th quarter. Sterling Capital Management LLC now owns 5,221 shares of the utilities provider's stock worth $51,000 after purchasing an additional 4,651 shares in the last quarter. Finally, Amalgamated Bank grew its stake in shares of Hawaiian Electric Industries by 50.9% in the 4th quarter. Amalgamated Bank now owns 5,650 shares of the utilities provider's stock valued at $55,000 after buying an additional 1,905 shares during the period. Institutional investors and hedge funds own 59.91% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on HE shares. StockNews.com raised shares of Hawaiian Electric Industries from a "sell" rating to a "hold" rating in a research report 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 research note on Thursday, February 27th. Barclays upped their target price 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. Finally, Evercore ISI raised Hawaiian Electric Industries from an "in-line" rating to an "outperform" rating and raised their target price for the company from $12.00 to $14.00 in a research report on Friday, March 7th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $12.00.

Hawaiian Electric Industries Trading Up 0.8%

Shares of NYSE HE traded up $0.09 during mid-day trading on Tuesday, hitting $10.78. The stock had a trading volume of 513,925 shares, compared to its average volume of 3,416,988. The business has a 50 day moving average price of $10.47 and a two-hundred day moving average price of $10.17. Hawaiian Electric Industries, Inc. has a 1 year low of $7.61 and a 1 year high of $18.19. The firm has a market cap of $1.86 billion, a P/E ratio of -0.91 and a beta of 0.64. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.18 and a current ratio of 0.18.

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. 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 during the quarter. During the same quarter last year, the business earned $0.38 earnings per share. On average, equities analysts anticipate that Hawaiian Electric Industries, Inc. will post 1.71 EPS 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.