AQR Capital Management LLC Buys 2,312,950 Shares of Hawaiian Electric Industries, Inc. (NYSE:HE)

AQR Capital Management LLC grew its stake in shares of Hawaiian Electric Industries, Inc. (NYSE:HE) by 52.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,693,424 shares of the utilities provider’s stock after acquiring an additional 2,312,950 shares during the period. AQR Capital Management LLC owned 0.06% of Hawaiian Electric Industries worth $60,308,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. New Covenant Trust Company N.A. acquired a new position in shares of Hawaiian Electric Industries in the first quarter valued at about $32,000. Abich Financial Wealth Management LLC boosted its holdings in Hawaiian Electric Industries by 54.4% in the 1st quarter. Abich Financial Wealth Management LLC now owns 3,226 shares of the utilities provider’s stock valued at $36,000 after purchasing an additional 1,137 shares during the period. Fidelis Capital Partners LLC acquired a new position in shares of Hawaiian Electric Industries during the 1st quarter worth approximately $42,000. Signaturefd LLC raised its position in shares of Hawaiian Electric Industries by 30.8% in the second quarter. Signaturefd LLC now owns 8,437 shares of the utilities provider’s stock valued at $76,000 after buying an additional 1,986 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of Hawaiian Electric Industries by 82.3% in the second quarter. GAMMA Investing LLC now owns 9,540 shares of the utilities provider’s stock valued at $86,000 after buying an additional 4,308 shares during the period. Institutional investors own 59.91% of the company’s stock.

Hawaiian Electric Industries Stock Up 1.0 %

Shares of HE opened at $9.95 on Friday. The firm has a 50 day simple moving average of $13.09 and a two-hundred day simple moving average of $11.35. The company has a debt-to-equity ratio of 2.62, a current ratio of 0.11 and a quick ratio of 0.11. Hawaiian Electric Industries, Inc. has a one year low of $7.61 and a one year high of $18.19. The company has a market cap of $1.10 billion, a P/E ratio of 5.89 and a beta of 0.55.

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

Wall Street Analyst Weigh In

HE has been the topic of a number of recent research reports. Wells Fargo & Company upgraded Hawaiian Electric Industries from an “underweight” rating to an “equal weight” rating and set a $14.00 price objective on the stock in a research note on Friday, August 23rd. StockNews.com cut Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a research report on Wednesday. Finally, Evercore ISI cut their price objective on shares of Hawaiian Electric Industries from $16.00 to $9.00 and set an “in-line” rating for the company in a research report on Tuesday.

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.