Mercer Global Advisors Inc. ADV Buys Shares of 11,034 Hawaiian Electric Industries, Inc. (NYSE:HE)

Mercer Global Advisors Inc. ADV bought a new stake in Hawaiian Electric Industries, Inc. (NYSE:HE) during the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 11,034 shares of the utilities provider’s stock, valued at approximately $107,000.

Other institutional investors also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its stake in Hawaiian Electric Industries by 14.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,471,522 shares of the utilities provider’s stock worth $33,778,000 after purchasing an additional 449,873 shares during the last quarter. Mad River Investors bought a new position in Hawaiian Electric Industries during the fourth quarter worth $1,171,000. Proficio Capital Partners LLC bought a new position in Hawaiian Electric Industries during the fourth quarter worth $142,000. Raymond James Financial Inc. bought a new position in Hawaiian Electric Industries during the fourth quarter worth $342,000. Finally, Geode Capital Management LLC lifted its stake in Hawaiian Electric Industries by 3.5% during the fourth quarter. Geode Capital Management LLC now owns 3,925,882 shares of the utilities provider’s stock worth $38,208,000 after purchasing an additional 132,740 shares during the last quarter. 59.91% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Wells Fargo & Company raised their price objective on Hawaiian Electric Industries from $11.00 to $12.50 and gave the stock an “equal weight” rating in a research note on Thursday, February 27th. 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. 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, StockNews.com raised Hawaiian Electric Industries from a “sell” rating to a “hold” rating in a research report on Monday, May 12th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Hawaiian Electric Industries has an average rating of “Hold” and an average price target of $12.00.

Hawaiian Electric Industries Price Performance

Shares of NYSE HE opened at $10.61 on Friday. Hawaiian Electric Industries, Inc. has a 1-year low of $7.61 and a 1-year high of $18.19. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.18 and a quick ratio of 0.18. The business’s fifty day moving average price is $10.48 and its two-hundred day moving average price is $10.17. The firm has a market capitalization of $1.83 billion, a PE ratio of -0.90 and a beta of 0.64.

Hawaiian Electric Industries (NYSE:HE) last issued its quarterly earnings results on Friday, May 9th. The utilities provider reported $0.23 EPS for the quarter, meeting analysts’ consensus estimates of $0.23. The company had revenue of $744.07 million for the quarter. Hawaiian Electric Industries had a positive return on equity of 11.12% and a negative net margin of 35.38%. During the same period last year, the business posted $0.38 earnings per share. On average, 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.