Proficio Capital Partners LLC Takes $142,000 Position in Hawaiian Electric Industries, Inc. (NYSE:HE)

Proficio Capital Partners LLC bought a new position in Hawaiian Electric Industries, Inc. (NYSE:HE) during the 4th quarter, HoldingsChannel reports. The fund bought 14,634 shares of the utilities provider’s stock, valued at approximately $142,000.

Other hedge funds have also made changes to their positions in the company. Blue Trust Inc. boosted its position in shares of Hawaiian Electric Industries by 203.0% in the 4th quarter. Blue Trust Inc. now owns 3,078 shares of the utilities provider’s stock worth $30,000 after purchasing an additional 2,062 shares during the last quarter. R Squared Ltd acquired a new position in Hawaiian Electric Industries in the fourth quarter valued at about $36,000. Quarry LP boosted its holdings in Hawaiian Electric Industries by 156.6% during the third quarter. Quarry LP now owns 4,503 shares of the utilities provider’s stock worth $44,000 after buying an additional 2,748 shares during the last quarter. Jones Financial Companies Lllp grew its position in shares of Hawaiian Electric Industries by 63.9% during the 4th quarter. Jones Financial Companies Lllp now owns 4,844 shares of the utilities provider’s stock worth $47,000 after buying an additional 1,889 shares during the period. Finally, Amalgamated Bank increased its stake in shares of Hawaiian Electric Industries by 50.9% in the 4th quarter. Amalgamated Bank now owns 5,650 shares of the utilities provider’s stock valued at $55,000 after acquiring an additional 1,905 shares during the last quarter. Institutional investors and hedge funds own 59.91% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on HE shares. Wells Fargo & Company lifted their price objective on shares of 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. Barclays lifted their price target on shares of Hawaiian Electric Industries from $10.00 to $11.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 4th. StockNews.com cut shares of Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a research report on Tuesday, February 11th. Evercore ISI upgraded Hawaiian Electric Industries from an “in-line” rating to an “outperform” rating and lifted their target price for the stock from $12.00 to $14.00 in a report on Friday, March 7th. Finally, Jefferies Financial Group lowered 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. 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 stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $12.00.

Hawaiian Electric Industries Stock Down 0.5 %

Shares of HE stock opened at $11.11 on Friday. Hawaiian Electric Industries, Inc. has a 12-month low of $7.61 and a 12-month high of $18.19. The company has a quick ratio of 0.18, a current ratio of 0.18 and a debt-to-equity ratio of 1.80. The firm has a fifty day moving average of $10.34 and a 200-day moving average of $10.18. The company has a market capitalization of $1.92 billion, a price-to-earnings ratio of -0.94 and a beta of 0.46.

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