Hawaiian Electric Industries, Inc. (NYSE:HE) Shares Purchased by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp grew its stake in shares of Hawaiian Electric Industries, Inc. (NYSE:HE) by 196.1% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 1,222,532 shares of the utilities provider’s stock after acquiring an additional 809,601 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Hawaiian Electric Industries were worth $11,895,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Blue Trust Inc. lifted its holdings in shares of Hawaiian Electric Industries by 203.0% during the fourth 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 last quarter. R Squared Ltd acquired a new stake in Hawaiian Electric Industries during the 4th quarter worth about $36,000. Quarry LP raised its holdings in Hawaiian Electric Industries by 156.6% during the 3rd quarter. Quarry LP now owns 4,503 shares of the utilities provider’s stock worth $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% in the fourth 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 period. Finally, Millburn Ridgefield Corp purchased a new position in shares of Hawaiian Electric Industries in the third quarter worth approximately $55,000. 59.91% of the stock is owned by institutional investors.

Hawaiian Electric Industries Price Performance

Shares of NYSE:HE opened at $11.11 on Friday. The firm has a market cap of $1.92 billion, a price-to-earnings ratio of -0.94 and a beta of 0.46. Hawaiian Electric Industries, Inc. has a 1 year low of $7.61 and a 1 year high of $18.19. The company has a current ratio of 0.18, a quick ratio of 0.18 and a debt-to-equity ratio of 1.80. The business has a fifty day simple moving average of $10.34 and a 200 day simple moving average of $10.17.

Hawaiian Electric Industries (NYSE:HE) last posted its quarterly 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 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, sell-side analysts predict that Hawaiian Electric Industries, Inc. will post 1.71 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Barclays raised their price objective 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. Jefferies Financial Group decreased their target price on 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. StockNews.com lowered Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a research report on Tuesday, February 11th. Wells Fargo & Company raised their price objective on Hawaiian Electric Industries from $11.00 to $12.50 and gave the stock an “equal weight” rating in a research report on Thursday, February 27th. Finally, Evercore ISI upgraded 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. One 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. Based on data from MarketBeat.com, the stock presently 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.