Foundry Partners LLC Acquires Shares of 630,589 Hawaiian Electric Industries, Inc. (NYSE:HE)

Foundry Partners LLC bought a new position in Hawaiian Electric Industries, Inc. (NYSE:HE) during the 1st quarter, Holdings Channel reports. The institutional investor bought 630,589 shares of the utilities provider’s stock, valued at approximately $6,905,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. T. Rowe Price Investment Management Inc. bought a new stake in Hawaiian Electric Industries during the fourth quarter valued at about $115,010,000. Two Sigma Investments LP boosted its stake in Hawaiian Electric Industries by 165.6% during the fourth quarter. Two Sigma Investments LP now owns 2,043,726 shares of the utilities provider’s stock valued at $19,885,000 after buying an additional 1,274,119 shares during the last quarter. Vanguard Group Inc. boosted its stake in Hawaiian Electric Industries by 6.5% during the fourth quarter. Vanguard Group Inc. now owns 18,231,969 shares of the utilities provider’s stock valued at $177,397,000 after buying an additional 1,112,150 shares during the last quarter. Mad River Investors boosted its stake in Hawaiian Electric Industries by 910.7% during the first quarter. Mad River Investors now owns 1,215,900 shares of the utilities provider’s stock valued at $13,314,000 after buying an additional 1,095,600 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp boosted its stake in Hawaiian Electric Industries by 196.1% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,222,532 shares of the utilities provider’s stock valued at $11,895,000 after buying an additional 809,601 shares during the last quarter. Hedge funds and other institutional investors own 59.91% of the company’s stock.

Hawaiian Electric Industries Stock Performance

Shares of HE opened at $10.74 on Friday. The stock has a 50-day moving average of $10.64 and a two-hundred day moving average of $10.29. Hawaiian Electric Industries, Inc. has a one year low of $8.14 and a one year high of $18.19. The company has a debt-to-equity ratio of 1.77, a quick ratio of 1.25 and a current ratio of 1.25. The stock has a market cap of $1.85 billion, a P/E ratio of -0.83 and a beta of 0.64.

Hawaiian Electric Industries (NYSE:HE) last issued its quarterly earnings data on Friday, May 9th. The utilities provider reported $0.23 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.23. The business had revenue of $744.07 million during the quarter. Hawaiian Electric Industries had a positive return on equity of 12.59% and a negative net margin of 42.60%. During the same period last year, the firm earned $0.38 EPS. As a group, research analysts predict that Hawaiian Electric Industries, Inc. will post 1.71 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on HE shares. Wall Street Zen raised Hawaiian Electric Industries from a “sell” rating to a “hold” rating in a research note on Monday, May 12th. Jefferies Financial Group increased their price target on Hawaiian Electric Industries from $11.00 to $11.25 and gave the stock a “hold” rating in a report on Wednesday, May 28th. Finally, Barclays reduced their price target on Hawaiian Electric Industries from $11.00 to $10.00 and set an “equal weight” rating on the stock in a report on Thursday, July 10th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $11.94.

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.