Diametric Capital LP Increases Stock Holdings in Hawaiian Electric Industries, Inc. (NYSE:HE)

Diametric Capital LP raised its stake in shares of Hawaiian Electric Industries, Inc. (NYSE:HE) by 628.2% during the fourth quarter, Holdings Channel reports. The firm owned 86,019 shares of the utilities provider’s stock after buying an additional 74,207 shares during the quarter. Diametric Capital LP’s holdings in Hawaiian Electric Industries were worth $837,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Blue Trust Inc. lifted its stake 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 purchasing an additional 2,062 shares during the period. R Squared Ltd bought a new position in Hawaiian Electric Industries in the fourth quarter worth $36,000. Quarry LP lifted its position in Hawaiian Electric Industries by 156.6% during the third quarter. Quarry LP now owns 4,503 shares of the utilities provider’s stock valued at $44,000 after buying an additional 2,748 shares during the period. Jones Financial Companies Lllp boosted its holdings 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 valued at $47,000 after buying an additional 1,889 shares in the last quarter. Finally, Millburn Ridgefield Corp purchased a new stake in shares of Hawaiian Electric Industries in the 3rd quarter worth about $55,000. 59.91% of the stock is owned by hedge funds and other institutional investors.

Hawaiian Electric Industries Stock Down 1.4 %

HE stock opened at $10.97 on Tuesday. The stock has a market capitalization of $1.89 billion, a P/E ratio of -0.93 and a beta of 0.46. 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 business has a fifty day moving average price of $10.37 and a 200-day moving average price of $10.16.

Hawaiian Electric Industries (NYSE:HE) last issued its earnings results 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). The business had revenue of $799.18 million during the quarter. Hawaiian Electric Industries had a positive return on equity of 11.12% and a negative net margin of 35.38%. Equities analysts forecast that Hawaiian Electric Industries, Inc. will post 1.71 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on HE. StockNews.com cut shares of Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a research report on Tuesday, February 11th. Jefferies Financial Group cut their price target on Hawaiian Electric Industries from $11.50 to $10.50 and set a “hold” rating on the stock in a research note on Friday, January 3rd. Wells Fargo & Company lifted 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 raised Hawaiian Electric Industries from an “in-line” rating to an “outperform” rating and increased their target price for the stock from $12.00 to $14.00 in a research note on Friday, March 7th. Finally, Barclays upped 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 research note on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, Hawaiian Electric Industries presently has an average rating of “Hold” and an average price target of $12.00.

Hawaiian Electric Industries Company 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.