Burkehill Global Management LP Makes New Investment in Hawaiian Electric Industries, Inc. (NYSE:HE)

Burkehill Global Management LP acquired a new stake in shares of Hawaiian Electric Industries, Inc. (NYSE:HE) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,000,000 shares of the utilities provider’s stock, valued at approximately $19,460,000. Hawaiian Electric Industries accounts for about 1.9% of Burkehill Global Management LP’s holdings, making the stock its 17th biggest position.

A number of other hedge funds have also recently modified their holdings of the business. Van ECK Associates Corp lifted its position in Hawaiian Electric Industries by 59.9% during the 3rd quarter. Van ECK Associates Corp now owns 45,536 shares of the utilities provider’s stock valued at $443,000 after acquiring an additional 17,055 shares during the period. Versor Investments LP bought a new position in shares of Hawaiian Electric Industries during the third quarter valued at approximately $367,000. Oppenheimer & Co. Inc. lifted its holdings in shares of Hawaiian Electric Industries by 5.7% during the third quarter. Oppenheimer & Co. Inc. now owns 32,775 shares of the utilities provider’s stock valued at $317,000 after purchasing an additional 1,775 shares during the last quarter. KBC Group NV lifted its holdings in shares of Hawaiian Electric Industries by 34.8% during the third quarter. KBC Group NV now owns 3,956 shares of the utilities provider’s stock valued at $38,000 after purchasing an additional 1,021 shares during the last quarter. Finally, Thrivent Financial for Lutherans bought a new stake in shares of Hawaiian Electric Industries in the 3rd quarter worth approximately $2,233,000. Institutional investors own 59.91% of the company’s stock.

Analyst Ratings Changes

HE has been the subject of a number of analyst reports. Evercore ISI raised Hawaiian Electric Industries from an “in-line” rating to an “outperform” rating and raised their price objective for the company from $12.00 to $14.00 in a research report on Friday, March 7th. StockNews.com downgraded Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a report on Tuesday, February 11th. Barclays upped 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 note on Tuesday, March 4th. Jefferies Financial Group cut their price objective on shares of Hawaiian Electric Industries from $11.50 to $10.50 and set a “hold” rating on the stock in a research report on Friday, January 3rd. Finally, Wells Fargo & Company lifted their target price on shares of Hawaiian Electric Industries from $11.00 to $12.50 and gave the stock an “equal weight” rating in a report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $12.00.

Hawaiian Electric Industries Stock Down 2.1 %

HE stock opened at $10.94 on Thursday. The stock has a market capitalization of $1.89 billion, a P/E ratio of -0.92 and a beta of 0.46. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.18 and a quick ratio of 0.18. Hawaiian Electric Industries, Inc. has a 1-year low of $7.61 and a 1-year high of $18.19. The business has a fifty day moving average price of $9.82 and a 200-day moving average price of $10.18.

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

Hawaiian Electric Industries Company Profile

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.