Hawaiian Electric Industries, Inc. (NYSE:HE) Stake Lifted by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. increased its stake in Hawaiian Electric Industries, Inc. (NYSE:HE) by 20.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,021,649 shares of the utilities provider’s stock after acquiring an additional 514,989 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Hawaiian Electric Industries were worth $29,250,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. KBC Group NV boosted its holdings in Hawaiian Electric Industries by 34.8% during the third quarter. KBC Group NV now owns 3,956 shares of the utilities provider’s stock worth $38,000 after buying an additional 1,021 shares in the last quarter. IMS Capital Management boosted its holdings in Hawaiian Electric Industries by 2.5% during the second quarter. IMS Capital Management now owns 51,957 shares of the utilities provider’s stock worth $469,000 after buying an additional 1,257 shares in the last quarter. Oppenheimer & Co. Inc. boosted its holdings in Hawaiian Electric Industries by 5.7% during the third quarter. Oppenheimer & Co. Inc. now owns 32,775 shares of the utilities provider’s stock worth $317,000 after buying an additional 1,775 shares in the last quarter. Signaturefd LLC lifted its position in shares of Hawaiian Electric Industries by 30.8% in the 2nd quarter. Signaturefd LLC now owns 8,437 shares of the utilities provider’s stock valued at $76,000 after acquiring an additional 1,986 shares in the last quarter. Finally, Van ECK Associates Corp grew its position in Hawaiian Electric Industries by 9.5% during the 2nd quarter. Van ECK Associates Corp now owns 28,481 shares of the utilities provider’s stock worth $257,000 after purchasing an additional 2,482 shares in the last quarter. 59.91% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

HE has been the topic of several research analyst reports. Evercore ISI lowered their price objective on shares of Hawaiian Electric Industries from $11.00 to $10.00 and set an “in-line” rating on the stock in a research report on Tuesday, November 19th. StockNews.com cut shares of Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a research report on Friday, October 4th. Jefferies Financial Group initiated coverage on shares of Hawaiian Electric Industries in a research report on Tuesday. They set a “hold” rating and a $11.50 price objective on the stock. Finally, Wells Fargo & Company lowered their price objective on shares of Hawaiian Electric Industries from $14.00 to $11.50 and set an “equal weight” rating on the stock in a research report on Monday, September 30th.

Hawaiian Electric Industries Stock Up 0.5 %

HE stock opened at $10.24 on Thursday. The company has a current ratio of 0.18, a quick ratio of 0.18 and a debt-to-equity ratio of 1.80. Hawaiian Electric Industries, Inc. has a 1 year low of $7.61 and a 1 year high of $18.19. The company has a fifty day simple moving average of $10.12 and a 200 day simple moving average of $11.13. The firm has a market cap of $1.77 billion, a PE ratio of -0.87 and a beta of 0.53.

Hawaiian Electric Industries (NYSE:HE) last posted its quarterly earnings data on Friday, November 8th. The utilities provider reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.07). The company had revenue of $983.38 million for the quarter. Hawaiian Electric Industries had a positive return on equity of 11.12% and a negative net margin of 35.38%. The business’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.37 EPS.

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.