Newbridge Financial Services Group Inc. Makes New Investment in Hawaiian Electric Industries, Inc. (NYSE:HE)

Newbridge Financial Services Group Inc. purchased a new stake in Hawaiian Electric Industries, Inc. (NYSE:HE) in the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 11,000 shares of the utilities provider’s stock, valued at approximately $107,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in HE. Empowered Funds LLC acquired a new position in Hawaiian Electric Industries in the fourth quarter valued at approximately $230,000. Apollon Wealth Management LLC purchased a new stake in Hawaiian Electric Industries in the fourth quarter valued at $98,000. Robertson Stephens Wealth Management LLC acquired a new position in shares of Hawaiian Electric Industries in the 4th quarter valued at $188,000. Choreo LLC lifted its stake in shares of Hawaiian Electric Industries by 15.5% in the 4th quarter. Choreo LLC now owns 16,190 shares of the utilities provider’s stock valued at $158,000 after purchasing an additional 2,173 shares during the last quarter. Finally, R Squared Ltd purchased a new position in shares of Hawaiian Electric Industries during the 4th quarter worth $36,000. Institutional investors and hedge funds own 59.91% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on HE. StockNews.com cut shares of Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a research report on Tuesday. Barclays began coverage on shares of Hawaiian Electric Industries in a research report on Thursday, February 6th. They set an “equal weight” rating and a $10.00 price objective for the company. Jefferies Financial Group decreased their price target on Hawaiian Electric Industries from $11.50 to $10.50 and set a “hold” rating on the stock in a research note on Friday, January 3rd. Finally, Evercore ISI dropped their price objective on Hawaiian Electric Industries from $11.00 to $10.00 and set an “in-line” rating for the company in a research note on Tuesday, November 19th. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. According to data from MarketBeat.com, Hawaiian Electric Industries presently has a consensus rating of “Hold” and an average price target of $10.50.

Hawaiian Electric Industries Trading Up 8.2 %

Shares of HE stock opened at $10.11 on Tuesday. Hawaiian Electric Industries, Inc. has a fifty-two week low of $7.61 and a fifty-two week high of $18.19. The company has a 50 day moving average price of $9.53 and a 200 day moving average price of $10.78. The stock has a market capitalization of $1.74 billion, a P/E ratio of -0.85 and a beta of 0.53. 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 (NYSE:HE) last posted its quarterly earnings results on Friday, November 8th. The utilities provider reported $0.46 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.07). Hawaiian Electric Industries had a positive return on equity of 11.12% and a negative net margin of 35.38%. The business had revenue of $983.38 million during the quarter. During the same period last year, the business posted $0.37 EPS. The firm’s quarterly revenue was up 9.0% on a year-over-year basis. Equities research analysts predict that Hawaiian Electric Industries, Inc. will post 1.71 EPS for the current fiscal year.

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.