Cibc World Markets Corp Takes $151,000 Position in Hawaiian Electric Industries, Inc. (NYSE:HE)

Cibc World Markets Corp acquired a new stake in shares of Hawaiian Electric Industries, Inc. (NYSE:HE) during the fourth quarter, HoldingsChannel reports. The fund acquired 15,505 shares of the utilities provider’s stock, valued at approximately $151,000.

Several other institutional investors also recently bought and sold shares of HE. Thrivent Financial for Lutherans purchased a new position in Hawaiian Electric Industries in the third quarter valued at about $2,233,000. Quest Partners LLC boosted its holdings in shares of Hawaiian Electric Industries by 126.1% in the 3rd quarter. Quest Partners LLC now owns 7,983 shares of the utilities provider’s stock valued at $77,000 after buying an additional 4,453 shares in the last quarter. Intech Investment Management LLC purchased a new position in shares of Hawaiian Electric Industries in the 3rd quarter worth approximately $239,000. Charles Schwab Investment Management Inc. raised its stake in shares of Hawaiian Electric Industries by 20.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,021,649 shares of the utilities provider’s stock worth $29,250,000 after acquiring an additional 514,989 shares in the last quarter. Finally, FMR LLC lifted its position in Hawaiian Electric Industries by 7,986.3% during the third quarter. FMR LLC now owns 5,340,679 shares of the utilities provider’s stock valued at $51,698,000 after acquiring an additional 5,274,633 shares during the last quarter. 59.91% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have issued reports on HE. StockNews.com lowered shares of Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a report on Tuesday, February 11th. Wells Fargo & Company boosted their target price 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. Evercore ISI raised Hawaiian Electric Industries from an “in-line” rating to an “outperform” rating and upped their target price for the company from $12.00 to $14.00 in a research report on Friday, March 7th. Barclays raised their price target on Hawaiian Electric Industries from $10.00 to $11.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 4th. Finally, Jefferies Financial Group cut 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 report on Friday, January 3rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $12.00.

Hawaiian Electric Industries Price Performance

NYSE HE opened at $11.17 on Friday. The company has a market cap of $1.93 billion, a price-to-earnings ratio of -0.94 and a beta of 0.46. 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 stock’s fifty day moving average price is $10.30 and its 200 day moving average price is $10.17. Hawaiian Electric Industries, Inc. has a 1 year low of $7.61 and a 1 year high of $18.19.

Hawaiian Electric Industries (NYSE:HE) last announced its quarterly earnings data on Friday, February 21st. The utilities provider reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.19). Hawaiian Electric Industries had a negative net margin of 35.38% and a positive return on equity of 11.12%. The firm had revenue of $799.18 million during the quarter. As a group, equities research analysts forecast that Hawaiian Electric Industries, Inc. will post 1.71 earnings per share for the current 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.