Bayforest Capital Ltd Has $1.14 Million Stake in Hawaiian Electric Industries, Inc. $HE

Bayforest Capital Ltd increased its stake in shares of Hawaiian Electric Industries, Inc. (NYSE:HE) by 335.4% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 104,303 shares of the utilities provider’s stock after acquiring an additional 80,350 shares during the period. Hawaiian Electric Industries accounts for about 0.5% of Bayforest Capital Ltd’s holdings, making the stock its 22nd largest position. Bayforest Capital Ltd owned about 0.06% of Hawaiian Electric Industries worth $1,142,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Allworth Financial LP increased its position in Hawaiian Electric Industries by 379.3% in the 1st quarter. Allworth Financial LP now owns 2,574 shares of the utilities provider’s stock worth $27,000 after buying an additional 2,037 shares during the period. Farther Finance Advisors LLC increased its position in Hawaiian Electric Industries by 3,797.8% in the 1st quarter. Farther Finance Advisors LLC now owns 3,469 shares of the utilities provider’s stock worth $38,000 after buying an additional 3,380 shares during the period. Comerica Bank increased its position in Hawaiian Electric Industries by 69.3% in the 4th quarter. Comerica Bank now owns 4,189 shares of the utilities provider’s stock worth $41,000 after buying an additional 1,715 shares during the period. Byrne Asset Management LLC increased its position in Hawaiian Electric Industries by 34.0% in the 1st quarter. Byrne Asset Management LLC now owns 3,887 shares of the utilities provider’s stock worth $43,000 after buying an additional 987 shares during the period. Finally, US Bancorp DE increased its position in Hawaiian Electric Industries by 51.2% in the 1st quarter. US Bancorp DE now owns 4,293 shares of the utilities provider’s stock worth $47,000 after buying an additional 1,453 shares during the period. Institutional investors own 59.91% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Barclays dropped their price target on Hawaiian Electric Industries from $11.00 to $10.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 10th. Wall Street Zen upgraded Hawaiian Electric Industries from a “sell” rating to a “hold” rating in a research report on Monday, May 12th. Finally, Jefferies Financial Group raised their price objective on Hawaiian Electric Industries from $11.00 to $11.25 and gave the stock a “hold” rating in a research report on Wednesday, May 28th. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $11.94.

Hawaiian Electric Industries Price Performance

Shares of HE stock opened at $11.88 on Tuesday. The stock has a 50 day moving average of $11.31 and a two-hundred day moving average of $10.83. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 1.52. Hawaiian Electric Industries, Inc. has a 12 month low of $8.14 and a 12 month high of $13.41. The company has a market capitalization of $2.05 billion, a P/E ratio of -11.76 and a beta of 0.69.

Hawaiian Electric Industries (NYSE:HE) last posted its earnings results on Thursday, August 7th. The utilities provider reported $0.20 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.04). Hawaiian Electric Industries had a positive return on equity of 10.76% and a negative net margin of 3.66%.The company had revenue of $746.39 million for the quarter. As a group, equities analysts expect that Hawaiian Electric Industries, Inc. will post 1.71 EPS for the current year.

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.