Thrivent Financial for Lutherans Reduces Stake in Hawaiian Electric Industries, Inc. (NYSE:HE)

Thrivent Financial for Lutherans lowered its position in Hawaiian Electric Industries, Inc. (NYSE:HE) by 3.1% in the 4th quarter, HoldingsChannel.com reports. The fund owned 223,461 shares of the utilities provider’s stock after selling 7,182 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Hawaiian Electric Industries were worth $2,175,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Blue Trust Inc. boosted its stake in shares of Hawaiian Electric Industries by 203.0% during the 4th quarter. Blue Trust Inc. now owns 3,078 shares of the utilities provider’s stock worth $30,000 after acquiring an additional 2,062 shares during the last quarter. R Squared Ltd bought a new position in Hawaiian Electric Industries in the 4th quarter worth $36,000. Quarry LP raised its holdings in Hawaiian Electric Industries by 156.6% in the 3rd 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 period. Jones Financial Companies Lllp lifted its position in Hawaiian Electric Industries by 63.9% during the fourth quarter. Jones Financial Companies Lllp now owns 4,844 shares of the utilities provider’s stock valued at $47,000 after purchasing an additional 1,889 shares in the last quarter. Finally, Millburn Ridgefield Corp bought a new stake in Hawaiian Electric Industries during the third quarter valued at about $55,000. Hedge funds and other institutional investors own 59.91% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Evercore ISI raised Hawaiian Electric Industries from an “in-line” rating to an “outperform” rating and raised their price objective for the stock from $12.00 to $14.00 in a research note on Friday, March 7th. StockNews.com downgraded shares of Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a report on Tuesday, February 11th. Jefferies Financial Group decreased their price objective on shares of Hawaiian Electric Industries from $11.50 to $10.50 and set a “hold” rating on the stock in a research report on Friday, January 3rd. Wells Fargo & Company upped their target price on shares of Hawaiian Electric Industries from $11.00 to $12.50 and gave the stock an “equal weight” rating in a report on Thursday, February 27th. Finally, Barclays raised their price target on Hawaiian Electric Industries from $10.00 to $11.00 and gave the company an “equal weight” rating in a report on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $12.00.

Hawaiian Electric Industries Price Performance

HE stock opened at $11.11 on Friday. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.18 and a current ratio of 0.18. The company’s fifty day moving average price is $10.34 and its 200-day moving average price is $10.18. 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 capitalization of $1.92 billion, a PE ratio of -0.94 and a beta of 0.46.

Hawaiian Electric Industries (NYSE:HE) last announced its quarterly earnings results on Friday, February 21st. The utilities provider reported $0.20 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.19). The company had revenue of $799.18 million during the quarter. Hawaiian Electric Industries had a positive return on equity of 11.12% and a negative net margin of 35.38%. On average, equities analysts anticipate that Hawaiian Electric Industries, Inc. will post 1.71 EPS for the current fiscal year.

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.