Fernwood Investment Management LLC Has $1.29 Million Position in Hawaiian Electric Industries, Inc. (NYSE:HE)

Fernwood Investment Management LLC lifted its stake in shares of Hawaiian Electric Industries, Inc. (NYSE:HE) by 82.8% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 133,175 shares of the utilities provider’s stock after buying an additional 60,335 shares during the quarter. Fernwood Investment Management LLC’s holdings in Hawaiian Electric Industries were worth $1,289,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. AQR Capital Management LLC grew its position in Hawaiian Electric Industries by 52.8% during the second quarter. AQR Capital Management LLC now owns 6,693,424 shares of the utilities provider’s stock worth $60,308,000 after buying an additional 2,312,950 shares in the last quarter. Millennium Management LLC grew its holdings in shares of Hawaiian Electric Industries by 79.0% during the 2nd quarter. Millennium Management LLC now owns 1,870,088 shares of the utilities provider’s stock worth $16,868,000 after purchasing an additional 825,073 shares in the last quarter. Seven Grand Managers LLC bought a new position in shares of Hawaiian Electric Industries in the third quarter worth $4,888,000. Panagora Asset Management Inc. raised its stake in Hawaiian Electric Industries by 716.5% in the second quarter. Panagora Asset Management Inc. now owns 187,690 shares of the utilities provider’s stock valued at $1,693,000 after purchasing an additional 164,702 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in Hawaiian Electric Industries by 1.5% during the first quarter. Vanguard Group Inc. now owns 11,059,244 shares of the utilities provider’s stock worth $124,638,000 after purchasing an additional 160,815 shares during the period. Institutional investors own 59.91% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Hawaiian Electric Industries Price Performance

Shares of HE traded down $0.05 during mid-day trading on Friday, reaching $10.22. The company had a trading volume of 3,667,474 shares, compared to its average volume of 2,887,317. The company has a market capitalization of $1.13 billion, a price-to-earnings ratio of -0.97 and a beta of 0.53. The company has a debt-to-equity ratio of 2.62, a quick ratio of 0.11 and a current ratio of 0.11. The company’s 50 day simple moving average is $10.48 and its 200 day simple moving average is $11.15. Hawaiian Electric Industries, Inc. has a 1-year low of $7.61 and a 1-year high of $18.19.

Hawaiian Electric Industries (NYSE:HE) last issued its earnings results on Friday, August 9th. The utilities provider reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates 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 for the quarter was down .2% on a year-over-year basis.

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.