Voleon Capital Management LP Purchases New Holdings in Hawaiian Electric Industries, Inc. (NYSE:HE)

Voleon Capital Management LP bought a new position in shares of Hawaiian Electric Industries, Inc. (NYSE:HE - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 91,737 shares of the utilities provider's stock, valued at approximately $893,000. Voleon Capital Management LP owned about 0.05% of Hawaiian Electric Industries at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Blue Trust Inc. raised its position in 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 last quarter. R Squared Ltd purchased a new stake in Hawaiian Electric Industries in the 4th quarter valued at approximately $36,000. Jones Financial Companies Lllp increased its position in 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 purchasing an additional 1,889 shares during the period. Sterling Capital Management LLC raised its stake 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 buying an additional 4,651 shares in the last quarter. Finally, Amalgamated Bank lifted its holdings 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. Hedge funds and other institutional investors own 59.91% of the company's stock.

Hawaiian Electric Industries Stock Up 0.7 %

HE traded up $0.08 during trading on Wednesday, hitting $10.42. The company had a trading volume of 270,307 shares, compared to its average volume of 3,433,381. The business has a 50-day moving average of $10.53 and a 200-day moving average of $10.13. The company has a market cap of $1.80 billion, a PE ratio of -0.88 and a beta of 0.64. Hawaiian Electric Industries, Inc. has a 1-year low of $7.61 and a 1-year high of $18.19. 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 (NYSE:HE - Get Free Report) last released its earnings results on Friday, February 21st. The utilities provider reported $0.20 EPS for the quarter, missing analysts' consensus estimates of $0.39 by ($0.19). The firm had revenue of $799.18 million for the quarter. Hawaiian Electric Industries had a positive return on equity of 11.12% and a negative net margin of 35.38%. As a group, analysts forecast that Hawaiian Electric Industries, Inc. will post 1.71 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. StockNews.com downgraded Hawaiian Electric Industries from a "hold" rating to a "sell" rating in a report on Tuesday, February 11th. Wells Fargo & Company increased their price objective on 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. Evercore ISI upgraded shares of Hawaiian Electric Industries from an "in-line" rating to an "outperform" rating and upped their target price for the company from $12.00 to $14.00 in a report on Friday, March 7th. Finally, Barclays lifted their price target on shares of Hawaiian Electric Industries from $10.00 to $11.00 and gave the stock an "equal weight" rating in a report on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $12.00.

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.