Mackenzie Financial Corp Lowers Holdings in Hawaiian Electric Industries, Inc. (NYSE:HE)

Mackenzie Financial Corp cut its stake in Hawaiian Electric Industries, Inc. (NYSE:HE) by 34.8% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 57,821 shares of the utilities provider’s stock after selling 30,794 shares during the period. Mackenzie Financial Corp owned approximately 0.05% of Hawaiian Electric Industries worth $522,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Bank of Nova Scotia purchased a new stake in Hawaiian Electric Industries during the fourth quarter valued at about $1,202,000. Campbell & CO Investment Adviser LLC acquired a new position in shares of Hawaiian Electric Industries in the 4th quarter valued at about $643,000. Quadrature Capital Ltd grew its holdings in shares of Hawaiian Electric Industries by 16.5% during the 4th quarter. Quadrature Capital Ltd now owns 157,903 shares of the utilities provider’s stock worth $2,241,000 after purchasing an additional 22,363 shares during the period. Verition Fund Management LLC acquired a new stake in Hawaiian Electric Industries during the 4th quarter worth approximately $8,944,000. Finally, Virtu Financial LLC purchased a new position in Hawaiian Electric Industries in the fourth quarter valued at approximately $402,000. 59.91% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have issued reports on HE. Wells Fargo & Company decreased their price objective on shares of Hawaiian Electric Industries from $14.00 to $11.50 and set an “equal weight” rating for the company in a research note on Monday, September 30th. Evercore ISI decreased their price target on shares of Hawaiian Electric Industries from $16.00 to $9.00 and set an “in-line” rating for the company in a research report on Tuesday, September 24th. Finally, StockNews.com downgraded Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a report on Friday.

Hawaiian Electric Industries Stock Down 0.1 %

NYSE HE opened at $9.76 on Friday. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 2.62. Hawaiian Electric Industries, Inc. has a fifty-two week low of $7.61 and a fifty-two week high of $18.19. The business has a 50 day moving average price of $12.26 and a two-hundred day moving average price of $11.29. The stock has a market cap of $1.08 billion, a PE ratio of 5.78 and a beta of 0.54.

Hawaiian Electric Industries (NYSE:HE) last released its quarterly 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 firm had revenue of $792.30 million for the quarter. The firm’s revenue for the quarter was down .2% compared to the same quarter last year.

Hawaiian Electric Industries 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.