KLP Kapitalforvaltning AS Invests $721,000 in Hawaiian Electric Industries, Inc. (NYSE:HE)

KLP Kapitalforvaltning AS acquired a new stake in Hawaiian Electric Industries, Inc. (NYSE:HE) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 74,100 shares of the utilities provider’s stock, valued at approximately $721,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Blue Trust Inc. increased 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 valued at $30,000 after buying an additional 2,062 shares in the last quarter. R Squared Ltd acquired a new stake in shares of Hawaiian Electric Industries during the fourth quarter worth about $36,000. Quarry LP raised its position in shares of 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 purchasing an additional 2,748 shares during the period. Jones Financial Companies Lllp lifted its holdings 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 valued at $47,000 after purchasing an additional 1,889 shares in the last quarter. Finally, Millburn Ridgefield Corp acquired a new position in shares of Hawaiian Electric Industries in the 3rd quarter valued at approximately $55,000. Institutional investors and hedge funds own 59.91% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Barclays upped their price target on shares of Hawaiian Electric Industries from $10.00 to $11.00 and gave the company an “equal weight” rating in a report on Tuesday, March 4th. Wells Fargo & Company increased their target price on Hawaiian Electric Industries from $11.00 to $12.50 and gave the stock an “equal weight” rating in a report on Thursday, February 27th. Jefferies Financial Group cut their price target on Hawaiian Electric Industries from $11.50 to $10.50 and set a “hold” rating on the stock in a report on Friday, January 3rd. StockNews.com cut Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a research report on Tuesday, February 11th. Finally, Evercore ISI raised Hawaiian Electric Industries from an “in-line” rating to an “outperform” rating and lifted their target price for the company from $12.00 to $14.00 in a research report on Friday, March 7th. 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 MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $12.00.

Hawaiian Electric Industries Price Performance

NYSE:HE opened at $10.97 on Wednesday. The stock’s 50-day simple moving average is $10.40 and its 200 day simple moving average is $10.15. Hawaiian Electric Industries, Inc. has a 52-week low of $7.61 and a 52-week high of $18.19. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.18 and a current ratio of 0.18. The company has a market cap of $1.89 billion, a P/E ratio of -0.93 and a beta of 0.46.

Hawaiian Electric Industries (NYSE:HE) last released its quarterly earnings data on Friday, February 21st. The utilities provider reported $0.20 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.19). 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 $799.18 million during the quarter. As a group, sell-side analysts forecast that Hawaiian Electric Industries, Inc. will post 1.71 EPS 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.