T. Rowe Price Investment Management Inc. Invests $115.01 Million in Hawaiian Electric Industries, Inc. (NYSE:HE)

T. Rowe Price Investment Management Inc. acquired a new stake in shares of Hawaiian Electric Industries, Inc. (NYSE:HE - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 11,820,065 shares of the utilities provider's stock, valued at approximately $115,010,000. T. Rowe Price Investment Management Inc. owned about 6.85% of Hawaiian Electric Industries as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Blue Trust Inc. lifted its holdings in shares of Hawaiian Electric Industries by 203.0% in the 4th quarter. Blue Trust Inc. now owns 3,078 shares of the utilities provider's stock valued at $30,000 after acquiring an additional 2,062 shares during the last quarter. R Squared Ltd purchased a new position in shares of Hawaiian Electric Industries in the 4th quarter worth approximately $36,000. Jones Financial Companies Lllp boosted its holdings in shares of Hawaiian Electric Industries by 63.9% in the 4th quarter. Jones Financial Companies Lllp now owns 4,844 shares of the utilities provider's stock worth $47,000 after purchasing an additional 1,889 shares during the period. Sterling Capital Management LLC increased 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 valued at $51,000 after purchasing an additional 4,651 shares during the last quarter. Finally, Amalgamated Bank raised its holdings in Hawaiian Electric Industries by 50.9% during 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. 59.91% of the stock is owned by hedge funds and other institutional investors.

Hawaiian Electric Industries Stock Down 1.3 %

Shares of Hawaiian Electric Industries stock traded down $0.14 on Wednesday, reaching $10.36. 503,748 shares of the company were exchanged, compared to its average volume of 3,447,952. The stock's 50 day moving average price is $10.58 and its 200-day moving average price is $10.13. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.18 and a quick ratio of 0.18. Hawaiian Electric Industries, Inc. has a 1-year low of $7.61 and a 1-year high of $18.19. The company has a market cap of $1.79 billion, a P/E ratio of -0.88 and a beta of 0.51.

Hawaiian Electric Industries (NYSE:HE - Get Free Report) last released its quarterly earnings data on Friday, February 21st. The utilities provider reported $0.20 earnings per share 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 company had revenue of $799.18 million for the quarter. As a group, equities analysts forecast that Hawaiian Electric Industries, Inc. will post 1.71 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Wells Fargo & Company upped their price target on shares of Hawaiian Electric Industries from $11.00 to $12.50 and gave the stock an "equal weight" rating in a report on Thursday, February 27th. StockNews.com lowered Hawaiian Electric Industries from a "hold" rating to a "sell" rating in a report on Tuesday, February 11th. Barclays lifted their target price on Hawaiian Electric Industries from $10.00 to $11.00 and gave the company an "equal weight" rating in a research note on Tuesday, March 4th. Jefferies Financial Group decreased their price objective on shares of Hawaiian Electric Industries from $11.50 to $10.50 and set a "hold" rating for the company in a research report on Friday, January 3rd. Finally, Evercore ISI upgraded shares of Hawaiian Electric Industries from an "in-line" rating to an "outperform" rating and increased their price objective for the stock from $12.00 to $14.00 in a research note on Friday, March 7th. 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's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $12.00.

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.