Wellington Management Group LLP Makes New Investment in Hawaiian Electric Industries, Inc. (NYSE:HE)

Wellington Management Group LLP bought a new stake in shares of Hawaiian Electric Industries, Inc. (NYSE:HE) in the 4th quarter, Holdings Channel reports. The fund bought 167,035 shares of the utilities provider’s stock, valued at approximately $2,370,000.

A number of other hedge funds and other institutional investors have also modified their holdings of HE. Virtu Financial LLC purchased a new position in shares of Hawaiian Electric Industries during the 4th quarter valued at approximately $402,000. Verition Fund Management LLC bought a new position in Hawaiian Electric Industries during the 4th quarter valued at $8,944,000. Quadrature Capital Ltd grew its holdings in Hawaiian Electric Industries by 16.5% during the 4th quarter. Quadrature Capital Ltd now owns 157,903 shares of the utilities provider’s stock worth $2,241,000 after acquiring an additional 22,363 shares in the last quarter. Campbell & CO Investment Adviser LLC acquired a new stake in shares of Hawaiian Electric Industries in the 4th quarter valued at about $643,000. Finally, Bank of Nova Scotia acquired a new stake in shares of Hawaiian Electric Industries in the 4th quarter valued at about $1,202,000. 59.91% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Wells Fargo & Company boosted their price objective on Hawaiian Electric Industries from $8.50 to $9.00 and gave the company an “underweight” rating in a report on Monday, May 13th. StockNews.com upgraded Hawaiian Electric Industries from a “sell” rating to a “hold” rating in a research report on Friday, June 21st. Two equities research analysts have rated the stock with a sell rating and two have given a hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $11.63.

Hawaiian Electric Industries Trading Up 0.1 %

Shares of NYSE HE opened at $9.02 on Monday. The company has a market cap of $994.91 million, a price-to-earnings ratio of 5.34 and a beta of 0.61. The stock’s 50 day simple moving average is $10.28 and its 200 day simple moving average is $11.77. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 1.19. Hawaiian Electric Industries, Inc. has a 12-month low of $8.74 and a 12-month high of $40.16.

Hawaiian Electric Industries (NYSE:HE) last announced its quarterly earnings results on Friday, May 10th. The utilities provider reported $0.45 earnings per share (EPS) for the quarter. Hawaiian Electric Industries had a net margin of 5.16% and a return on equity of 9.58%. The company had revenue of $897.16 million during the quarter.

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.