Balyasny Asset Management L.P. Buys Shares of 55,000 Hawaiian Electric Industries, Inc. (NYSE:HE)

Balyasny Asset Management L.P. purchased a new position in shares of Hawaiian Electric Industries, Inc. (NYSE:HE) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 55,000 shares of the utilities provider’s stock, valued at approximately $535,000.

A number of other large investors also recently made changes to their positions in HE. T. Rowe Price Investment Management Inc. purchased a new position in shares of Hawaiian Electric Industries in the 4th quarter worth $115,010,000. Horizon Kinetics Asset Management LLC purchased a new position in shares of Hawaiian Electric Industries in the 4th quarter worth $23,153,000. Burkehill Global Management LP purchased a new position in shares of Hawaiian Electric Industries in the 4th quarter worth $19,460,000. Vanguard Group Inc. raised its position in shares of Hawaiian Electric Industries by 6.5% in the 4th quarter. Vanguard Group Inc. now owns 18,231,969 shares of the utilities provider’s stock worth $177,397,000 after buying an additional 1,112,150 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp raised its position in shares of Hawaiian Electric Industries by 196.1% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,222,532 shares of the utilities provider’s stock worth $11,895,000 after buying an additional 809,601 shares during the period. Hedge funds and other institutional investors own 59.91% of the company’s stock.

Hawaiian Electric Industries Trading Up 2.4%

NYSE:HE opened at $10.58 on Friday. The business’s 50-day moving average is $10.49 and its two-hundred day moving average is $10.16. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.18 and a quick ratio of 0.18. Hawaiian Electric Industries, Inc. has a 12 month low of $7.61 and a 12 month high of $18.19. The firm has a market capitalization of $1.82 billion, a PE ratio of -0.89 and a beta of 0.64.

Hawaiian Electric Industries (NYSE:HE) last released its quarterly earnings data on Friday, May 9th. The utilities provider reported $0.23 EPS for the quarter, meeting the consensus estimate of $0.23. Hawaiian Electric Industries had a positive return on equity of 11.12% and a negative net margin of 35.38%. The company had revenue of $744.07 million for the quarter. During the same period last year, the business earned $0.38 earnings per share. Research analysts predict that Hawaiian Electric Industries, Inc. will post 1.71 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on HE. Barclays increased their target price on Hawaiian Electric Industries from $10.00 to $11.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 4th. StockNews.com raised Hawaiian Electric Industries from a “sell” rating to a “hold” rating in a research report on Monday. Evercore ISI raised Hawaiian Electric Industries from an “in-line” rating to an “outperform” rating and increased their target price for the stock from $12.00 to $14.00 in a research report on Friday, March 7th. Finally, Wells Fargo & Company increased their target price on Hawaiian Electric Industries from $11.00 to $12.50 and gave the stock an “equal weight” rating in a research report on Thursday, February 27th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $12.00.

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.