FORA Capital LLC Makes New Investment in Hawaiian Electric Industries, Inc. (NYSE:HE)

FORA Capital LLC acquired a new stake in shares of Hawaiian Electric Industries, Inc. (NYSE:HE) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 71,518 shares of the utilities provider’s stock, valued at approximately $692,000.

Several other large investors have also modified their holdings of the stock. Abich Financial Wealth Management LLC raised its holdings in shares of Hawaiian Electric Industries by 54.4% during the first quarter. Abich Financial Wealth Management LLC now owns 3,226 shares of the utilities provider’s stock valued at $36,000 after acquiring an additional 1,137 shares during the period. KBC Group NV grew its position in Hawaiian Electric Industries by 34.8% during the 3rd quarter. KBC Group NV now owns 3,956 shares of the utilities provider’s stock worth $38,000 after purchasing an additional 1,021 shares in the last quarter. UMB Bank n.a. purchased a new stake in shares of Hawaiian Electric Industries in the third quarter valued at $42,000. Signaturefd LLC lifted its holdings in shares of Hawaiian Electric Industries by 30.8% in the second quarter. Signaturefd LLC now owns 8,437 shares of the utilities provider’s stock valued at $76,000 after purchasing an additional 1,986 shares in the last quarter. Finally, Quest Partners LLC boosted its position in shares of Hawaiian Electric Industries by 126.1% in the third quarter. Quest Partners LLC now owns 7,983 shares of the utilities provider’s stock worth $77,000 after buying an additional 4,453 shares during the period. 59.91% of the stock is owned by institutional investors.

Hawaiian Electric Industries Stock Performance

HE stock opened at $10.53 on Friday. The company has a market capitalization of $1.82 billion, a price-to-earnings ratio of -0.89 and a beta of 0.53. The firm has a 50 day moving average of $10.13 and a two-hundred day moving average of $11.16. The company has a quick ratio of 0.18, a current ratio of 0.18 and a debt-to-equity ratio of 1.80. Hawaiian Electric Industries, Inc. has a 12 month low of $7.61 and a 12 month high of $18.19.

Hawaiian Electric Industries (NYSE:HE) last issued its quarterly earnings data on Friday, November 8th. The utilities provider reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.07). Hawaiian Electric Industries had a positive return on equity of 11.12% and a negative net margin of 35.38%. The business had revenue of $983.38 million during the quarter. During the same period in the previous year, the company earned $0.37 EPS. The company’s quarterly revenue was up 9.0% compared to the same quarter last year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Wells Fargo & Company lowered their target price on Hawaiian Electric Industries from $14.00 to $11.50 and set an “equal weight” rating on the stock in a research note on Monday, September 30th. StockNews.com lowered shares of Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a research note on Friday, October 4th. Finally, Evercore ISI dropped their price target on shares of Hawaiian Electric Industries from $11.00 to $10.00 and set an “in-line” rating on the stock in a research note on Tuesday, November 19th.

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.