Hawaiian Electric Industries, Inc. $HE Stock Bought by T3 Companies LLC

T3 Companies LLC grew its position in Hawaiian Electric Industries, Inc. (NYSE:HE) by 822.9% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 170,275 shares of the utilities provider’s stock after acquiring an additional 151,825 shares during the period. Hawaiian Electric Industries comprises approximately 1.5% of T3 Companies LLC’s investment portfolio, making the stock its 16th biggest position. T3 Companies LLC’s holdings in Hawaiian Electric Industries were worth $1,522,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of HE. BlackRock Inc. purchased a new stake in shares of Hawaiian Electric Industries during the 2nd quarter worth about $358,318,000. Bank of America Corp DE acquired a new stake in shares of Hawaiian Electric Industries during the 2nd quarter valued at about $32,135,000. Bank of New York Mellon Corp purchased a new position in shares of Hawaiian Electric Industries in the 2nd quarter valued at about $14,761,000. Legal & General Group Plc purchased a new position in shares of Hawaiian Electric Industries in the 2nd quarter valued at about $8,620,000. Finally, PDT Partners LLC purchased a new position in shares of Hawaiian Electric Industries in the 2nd quarter valued at about $6,927,000. 59.91% of the stock is owned by hedge funds and other institutional investors.

Hawaiian Electric Industries Stock Down 0.1%

Shares of NYSE HE opened at $8.71 on Friday. The company’s 50-day simple moving average is $9.99 and its 200-day simple moving average is $12.45. Hawaiian Electric Industries, Inc. has a 52-week low of $8.20 and a 52-week high of $17.38. The firm has a market cap of $1.50 billion, a price-to-earnings ratio of 11.78 and a beta of 0.49. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.57.

Hawaiian Electric Industries (NYSE:HE) last released its earnings results on Friday, August 7th. The utilities provider reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.08). Hawaiian Electric Industries had a return on equity of 7.90% and a net margin of 6.89%. The company had revenue of $939.70 million for the quarter, compared to analysts’ expectations of $939.70 million. During the same period in the prior year, the firm earned $0.15 EPS. Equities analysts predict that Hawaiian Electric Industries, Inc. will post 0.80 EPS for the current fiscal year.

Analysts Set New Price Targets

HE has been the subject of a number of analyst reports. Barclays reduced their price target on Hawaiian Electric Industries from $12.00 to $9.00 and set an “equal weight” rating for the company in a report on Wednesday, September 30th. Zacks Research raised Hawaiian Electric Industries from a “strong sell” rating to a “hold” rating in a report on Friday, October 9th. Jefferies Financial Group cut their price objective on Hawaiian Electric Industries from $8.75 to $7.00 and set an “underperform” rating for the company in a research report on Tuesday, October 6th. LADENBURG THALM/SH SH started coverage on Hawaiian Electric Industries in a research note on Tuesday, September 8th. They set a “sell” rating and a $7.00 target price for the company. Finally, Weiss Ratings downgraded Hawaiian Electric Industries from a “sell (d+)” rating to a “sell (d)” rating in a research note on Wednesday, October 14th. Two analysts have rated the stock with a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Strong Sell” and a consensus target price of $7.67.

Hawaiian Electric Industries Company Profile

Hawaiian Electric Industries, Inc (NYSE: HE) is a Hawaii-based holding company whose principal business is providing electric utility service across the state. Through its regulated utility subsidiaries—Hawaiian Electric Company, Maui Electric Company and Hawaii Electric Light—the company generates, purchases, transmits, distributes and sells electricity to residential, commercial and industrial customers on the islands of Oahu, Maui, Molokai, Lanai and Hawaii.

The utility uses a combination of renewable and conventional energy resources and supports Hawaii’s transition toward a cleaner electric system.