FNY Investment Advisers LLC Makes New Investment in Hawaiian Electric Industries, Inc. (NYSE:HE)

FNY Investment Advisers LLC purchased a new stake in Hawaiian Electric Industries, Inc. (NYSE:HE) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 12,250 shares of the utilities provider’s stock, valued at approximately $119,000.

A number of other large investors have also made changes to their positions in the stock. KBC Group NV grew its position 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 during the period. UMB Bank n.a. purchased a new position in Hawaiian Electric Industries in the 3rd quarter valued at approximately $42,000. Quarry LP raised its holdings in Hawaiian Electric Industries by 156.6% during the third quarter. Quarry LP now owns 4,503 shares of the utilities provider’s stock worth $44,000 after purchasing an additional 2,748 shares during the last quarter. Millburn Ridgefield Corp purchased a new stake in Hawaiian Electric Industries during the third quarter worth $55,000. Finally, Quest Partners LLC grew its holdings in Hawaiian Electric Industries by 126.1% in the third quarter. Quest Partners LLC now owns 7,983 shares of the utilities provider’s stock valued at $77,000 after purchasing an additional 4,453 shares during the last quarter. Hedge funds and other institutional investors own 59.91% of the company’s stock.

Wall Street Analysts Forecast Growth

HE has been the subject of several research reports. Evercore ISI cut their price target on Hawaiian Electric Industries from $11.00 to $10.00 and set an “in-line” rating for the company in a research note on Tuesday, November 19th. StockNews.com upgraded shares of Hawaiian Electric Industries from a “sell” rating to a “hold” rating in a research report on Saturday. Wells Fargo & Company dropped their price objective on shares of Hawaiian Electric Industries from $14.00 to $11.50 and set an “equal weight” rating for the company in a research note on Monday, September 30th. Finally, Jefferies Financial Group reduced their target price on Hawaiian Electric Industries from $11.50 to $10.50 and set a “hold” rating on the stock in a research note on Friday, January 3rd.

Hawaiian Electric Industries Price Performance

NYSE:HE opened at $8.39 on Wednesday. The firm has a market cap of $1.45 billion, a price-to-earnings ratio of -0.71 and a beta of 0.53. Hawaiian Electric Industries, Inc. has a 12-month low of $7.61 and a 12-month 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 company’s 50-day moving average is $9.98 and its two-hundred day moving average is $11.05.

Hawaiian Electric Industries (NYSE:HE) last announced its earnings results on Friday, November 8th. The utilities provider reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.07). The firm 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 was up 9.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.37 EPS. Research analysts expect that Hawaiian Electric Industries, Inc. will post 1.71 EPS for the current year.

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.