The Manufacturers Life Insurance Company Purchases 24,247 Shares of Hawaiian Electric Industries, Inc. (NYSE:HE)

The Manufacturers Life Insurance Company boosted its position in shares of Hawaiian Electric Industries, Inc. (NYSE:HE - Free Report) by 41.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 82,070 shares of the utilities provider's stock after purchasing an additional 24,247 shares during the period. The Manufacturers Life Insurance Company's holdings in Hawaiian Electric Industries were worth $799,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. Commonwealth Equity Services LLC boosted its stake in shares of Hawaiian Electric Industries by 3.6% during the 4th quarter. Commonwealth Equity Services LLC now owns 31,078 shares of the utilities provider's stock worth $302,000 after buying an additional 1,080 shares during the last quarter. Xponance Inc. boosted its stake in shares of Hawaiian Electric Industries by 10.9% during the 4th quarter. Xponance Inc. now owns 11,935 shares of the utilities provider's stock worth $116,000 after buying an additional 1,171 shares during the last quarter. Jones Financial Companies Lllp boosted its stake in shares of Hawaiian Electric Industries by 63.9% during the 4th quarter. Jones Financial Companies Lllp now owns 4,844 shares of the utilities provider's stock worth $47,000 after buying an additional 1,889 shares during the last quarter. Amalgamated Bank lifted its stake in 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 purchasing an additional 1,905 shares during the last quarter. Finally, Quarry LP lifted its stake in Hawaiian Electric Industries by 43.3% in the 4th quarter. Quarry LP now owns 6,453 shares of the utilities provider's stock valued at $63,000 after purchasing an additional 1,950 shares during the last quarter. 59.91% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on HE shares. StockNews.com upgraded shares of Hawaiian Electric Industries from a "sell" rating to a "hold" rating in a research note on Monday, May 12th. Evercore ISI upgraded shares of 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 note on Friday, March 7th. Barclays raised their target price on shares of 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. Finally, Wells Fargo & Company raised their target price 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. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $12.00.

Hawaiian Electric Industries Stock Performance

Hawaiian Electric Industries stock traded up $0.02 during trading hours on Friday, hitting $10.61. The company had a trading volume of 2,315,724 shares, compared to its average volume of 3,436,671. The firm has a market cap of $1.83 billion, a PE ratio of -0.90 and a beta of 0.64. 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 one year low of $7.61 and a one year high of $18.19. The firm has a 50-day moving average of $10.48 and a 200 day moving average of $10.17.

Hawaiian Electric Industries (NYSE:HE - Get Free Report) last released its quarterly earnings results on Friday, May 9th. The utilities provider reported $0.23 earnings per share for the quarter, meeting 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 firm had revenue of $744.07 million for the quarter. During the same period in the prior year, the company earned $0.38 earnings per share. On average, sell-side analysts expect that Hawaiian Electric Industries, Inc. will post 1.71 earnings per share for the current 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.