Fernwood Investment Management LLC Acquires 60,335 Shares of Hawaiian Electric Industries, Inc. (NYSE:HE)

Fernwood Investment Management LLC boosted its holdings in shares of Hawaiian Electric Industries, Inc. (NYSE:HE) by 82.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 133,175 shares of the utilities provider’s stock after purchasing an additional 60,335 shares during the period. Fernwood Investment Management LLC owned 0.12% of Hawaiian Electric Industries worth $1,289,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of HE. Norden Group LLC bought a new position in shares of Hawaiian Electric Industries in the first quarter worth about $261,000. Capstone Investment Advisors LLC raised its position in Hawaiian Electric Industries by 113.0% in the 1st quarter. Capstone Investment Advisors LLC now owns 35,268 shares of the utilities provider’s stock worth $397,000 after purchasing an additional 18,708 shares during the last quarter. Fidelis Capital Partners LLC bought a new position in Hawaiian Electric Industries in the 1st quarter worth approximately $42,000. Quantbot Technologies LP lifted its holdings in Hawaiian Electric Industries by 57.5% during the 1st quarter. Quantbot Technologies LP now owns 165,380 shares of the utilities provider’s stock worth $1,864,000 after buying an additional 60,346 shares in the last quarter. Finally, Oppenheimer & Co. Inc. boosted its position in Hawaiian Electric Industries by 14.4% in the 1st quarter. Oppenheimer & Co. Inc. now owns 31,000 shares of the utilities provider’s stock valued at $349,000 after buying an additional 3,900 shares during the last quarter. Institutional investors own 59.91% of the company’s stock.

Hawaiian Electric Industries Stock Down 0.5 %

Shares of HE traded down $0.05 on Friday, hitting $10.22. The company’s stock had a trading volume of 3,667,474 shares, compared to its average volume of 2,887,317. The firm’s fifty day moving average price is $10.48 and its 200-day moving average price is $11.15. 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 quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 2.62. The firm has a market capitalization of $1.13 billion, a price-to-earnings ratio of -0.97 and a beta of 0.53.

Hawaiian Electric Industries (NYSE:HE) last posted its quarterly earnings data on Friday, August 9th. The utilities provider reported $0.44 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.05). Hawaiian Electric Industries had a negative net margin of 31.76% and a positive return on equity of 10.69%. The company had revenue of $792.30 million during the quarter. The company’s revenue was down .2% compared to the same quarter last year.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Wells Fargo & Company cut their target price on shares of Hawaiian Electric Industries from $14.00 to $11.50 and set an “equal weight” rating on the stock in a research report on Monday, September 30th. StockNews.com lowered shares of Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a report on Friday, October 4th. Finally, Evercore ISI lowered their target price on shares of Hawaiian Electric Industries from $16.00 to $9.00 and set an “in-line” rating for the company in a report on Tuesday, September 24th.

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.