Mad River Investors Invests $1.17 Million in Hawaiian Electric Industries, Inc. (NYSE:HE)

Mad River Investors purchased a new stake in shares of Hawaiian Electric Industries, Inc. (NYSE:HE) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 120,300 shares of the utilities provider’s stock, valued at approximately $1,171,000. Hawaiian Electric Industries makes up 0.5% of Mad River Investors’ investment portfolio, making the stock its 18th largest position.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Victory Capital Management Inc. raised its position in shares of Hawaiian Electric Industries by 62.0% during the 2nd quarter. Victory Capital Management Inc. now owns 62,952 shares of the utilities provider’s stock valued at $568,000 after acquiring an additional 24,087 shares in the last quarter. American Century Companies Inc. raised its position in shares of Hawaiian Electric Industries by 13.9% during the second quarter. American Century Companies Inc. now owns 177,049 shares of the utilities provider’s stock worth $1,597,000 after purchasing an additional 21,584 shares during the period. Inspire Investing LLC lifted its holdings in shares of Hawaiian Electric Industries by 23.4% during the second quarter. Inspire Investing LLC now owns 39,072 shares of the utilities provider’s stock valued at $352,000 after purchasing an additional 7,413 shares during the last quarter. Evergreen Capital Management LLC purchased a new position in Hawaiian Electric Industries in the 2nd quarter worth about $91,000. Finally, Marshall Wace LLP raised its holdings in Hawaiian Electric Industries by 96.8% during the 2nd quarter. Marshall Wace LLP now owns 313,255 shares of the utilities provider’s stock worth $2,826,000 after buying an additional 154,116 shares during the period. Institutional investors and hedge funds own 59.91% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. StockNews.com upgraded shares of Hawaiian Electric Industries from a “sell” rating to a “hold” rating in a research report on Saturday, January 11th. Wells Fargo & Company cut their target price on Hawaiian Electric Industries from $14.00 to $11.50 and set an “equal weight” rating on the stock in a report on Monday, September 30th. Evercore ISI decreased their target price on Hawaiian Electric Industries from $11.00 to $10.00 and set an “in-line” rating for the company in a research report on Tuesday, November 19th. Finally, Jefferies Financial Group cut their price target on Hawaiian Electric Industries from $11.50 to $10.50 and set a “hold” rating for the company in a report on Friday, January 3rd.

Hawaiian Electric Industries Trading Down 0.1 %

Shares of HE opened at $9.14 on Tuesday. The stock’s 50-day moving average price is $9.87 and its two-hundred day moving average price is $11.07. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.18 and a current ratio of 0.18. 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 results on Friday, November 8th. The utilities provider reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.07). Hawaiian Electric Industries had a negative net margin of 35.38% and a positive return on equity of 11.12%. The company had revenue of $983.38 million during the quarter. During the same quarter in the prior year, the firm posted $0.37 earnings per share. The business’s quarterly revenue was up 9.0% on a year-over-year basis. Equities analysts expect that Hawaiian Electric Industries, Inc. will post 1.71 EPS 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.