Vanguard Group Inc. Has $134.52 Million Holdings in Hawaiian Electric Industries, Inc. (NYSE:HE)

Vanguard Group Inc. cut its position in shares of Hawaiian Electric Industries, Inc. (NYSE:HE - Free Report) by 13.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,927,832 shares of the utilities provider's stock after selling 1,759,480 shares during the quarter. Vanguard Group Inc. owned approximately 9.92% of Hawaiian Electric Industries worth $134,522,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of HE. Quadrature Capital Ltd acquired a new position in Hawaiian Electric Industries during the third quarter valued at approximately $1,670,000. Advisor Partners II LLC boosted its holdings in shares of Hawaiian Electric Industries by 2,321.4% during the third quarter. Advisor Partners II LLC now owns 174,314 shares of the utilities provider's stock valued at $2,146,000 after acquiring an additional 167,115 shares during the period. Trexquant Investment LP acquired a new stake in Hawaiian Electric Industries in the third quarter worth about $4,729,000. Swiss National Bank lifted its holdings in Hawaiian Electric Industries by 1.0% in the 3rd quarter. Swiss National Bank now owns 240,900 shares of the utilities provider's stock valued at $2,965,000 after acquiring an additional 2,300 shares during the last quarter. Finally, Numerai GP LLC acquired a new stake in Hawaiian Electric Industries in the 3rd quarter valued at about $1,269,000. 59.91% of the stock is currently owned by hedge funds and other institutional investors.

Hawaiian Electric Industries Price Performance

Hawaiian Electric Industries stock traded up $0.04 during mid-day trading on Wednesday, hitting $11.05. 1,315,318 shares of the company were exchanged, compared to its average volume of 2,282,153. Hawaiian Electric Industries, Inc. has a 1-year low of $9.06 and a 1-year high of $40.16. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 1.21. The company has a market capitalization of $1.22 billion, a PE ratio of 6.10, a price-to-earnings-growth ratio of 0.97 and a beta of 0.53. The business has a fifty day moving average of $12.20 and a 200 day moving average of $12.82.

Hawaiian Electric Industries (NYSE:HE - Get Free Report) last announced its earnings results on Tuesday, February 13th. The utilities provider reported $0.48 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.48. The business had revenue of $961.40 million for the quarter. Hawaiian Electric Industries had a return on equity of 9.99% and a net margin of 5.45%. The firm's quarterly revenue was down 5.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.52 EPS. As a group, sell-side analysts expect that Hawaiian Electric Industries, Inc. will post 1.98 earnings per share for the current year.

Analysts Set New Price Targets

Separately, Evercore ISI boosted their price objective on Hawaiian Electric Industries from $7.00 to $11.00 and gave the stock an "in-line" rating in a report on Thursday, February 15th. Three equities research analysts have rated the stock with a sell rating and one has given a hold rating to the company. According to MarketBeat, the stock has an average rating of "Reduce" and a consensus price target of $11.50.

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.