Rhumbline Advisers Purchases 63,241 Shares of Hawaiian Electric Industries, Inc. (NYSE:HE)

Rhumbline Advisers lifted its holdings in Hawaiian Electric Industries, Inc. (NYSE:HE) by 56.2% during the second quarter, Holdings Channel.com reports. The institutional investor owned 175,675 shares of the utilities provider’s stock after acquiring an additional 63,241 shares during the quarter. Rhumbline Advisers’ holdings in Hawaiian Electric Industries were worth $1,585,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Hawaiian Electric Industries by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 11,059,244 shares of the utilities provider’s stock worth $124,638,000 after purchasing an additional 160,815 shares during the period. Charles Schwab Investment Management Inc. increased its position in Hawaiian Electric Industries by 21.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,621,304 shares of the utilities provider’s stock worth $23,006,000 after buying an additional 285,955 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Hawaiian Electric Industries by 23.2% in the second quarter. Bank of New York Mellon Corp now owns 638,156 shares of the utilities provider’s stock valued at $5,756,000 after buying an additional 120,208 shares during the period. Verition Fund Management LLC purchased a new position in shares of Hawaiian Electric Industries during the 4th quarter valued at $8,944,000. Finally, Panagora Asset Management Inc. lifted its position in shares of Hawaiian Electric Industries by 716.5% during the 2nd quarter. Panagora Asset Management Inc. now owns 187,690 shares of the utilities provider’s stock valued at $1,693,000 after buying an additional 164,702 shares during the last quarter. 59.91% of the stock is owned by institutional investors.

Hawaiian Electric Industries Stock Performance

Shares of HE opened at $10.97 on Friday. Hawaiian Electric Industries, Inc. has a 52-week low of $7.61 and a 52-week high of $18.19. The stock’s 50-day simple moving average is $13.24 and its 200 day simple moving average is $11.39. The company has a debt-to-equity ratio of 2.62, a quick ratio of 0.11 and a current ratio of 0.11. The stock has a market capitalization of $1.21 billion, a price-to-earnings ratio of 6.49 and a beta of 0.55.

Hawaiian Electric Industries (NYSE:HE) last announced its quarterly earnings results on Friday, August 9th. The utilities provider reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.05). The firm had revenue of $792.30 million during the quarter. Hawaiian Electric Industries had a positive return on equity of 10.69% and a negative net margin of 31.76%. The company’s quarterly revenue was down .2% compared to the same quarter last year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on HE. Evercore ISI restated an “in-line” rating and issued a $16.00 price objective on shares of Hawaiian Electric Industries in a research note on Wednesday, August 14th. StockNews.com lowered shares of Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a research report on Monday, September 16th. Finally, Wells Fargo & Company raised shares of Hawaiian Electric Industries from an “underweight” rating to an “equal weight” rating and set a $14.00 price objective for the company in a report on Friday, August 23rd.

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.