The Manufacturers Life Insurance Company Has $560,000 Stock Position in Hawaiian Electric Industries, Inc. (NYSE:HE)

The Manufacturers Life Insurance Company lowered its stake in shares of Hawaiian Electric Industries, Inc. (NYSE:HE) by 3.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 57,823 shares of the utilities provider’s stock after selling 1,817 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.05% of Hawaiian Electric Industries worth $560,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. KBC Group NV increased its stake in shares of Hawaiian Electric Industries by 34.8% in the 3rd quarter. KBC Group NV now owns 3,956 shares of the utilities provider’s stock valued at $38,000 after buying an additional 1,021 shares during the period. UMB Bank n.a. acquired a new stake in Hawaiian Electric Industries in the third quarter worth about $42,000. Signaturefd LLC increased its position in Hawaiian Electric Industries by 30.8% in the second quarter. Signaturefd LLC now owns 8,437 shares of the utilities provider’s stock worth $76,000 after purchasing an additional 1,986 shares during the period. Quest Partners LLC raised its holdings in Hawaiian Electric Industries by 126.1% during the 3rd quarter. Quest Partners LLC now owns 7,983 shares of the utilities provider’s stock worth $77,000 after purchasing an additional 4,453 shares during the last quarter. Finally, Evergreen Capital Management LLC acquired a new position in Hawaiian Electric Industries during the 2nd quarter valued at about $91,000. Institutional investors and hedge funds own 59.91% of the company’s stock.

Hawaiian Electric Industries Stock Performance

Shares of NYSE:HE opened at $10.20 on Friday. The firm’s 50 day simple moving average is $10.22 and its 200 day simple moving average is $11.11. Hawaiian Electric Industries, Inc. has a fifty-two week low of $7.61 and a fifty-two week high of $18.19. The company has a market capitalization of $1.76 billion, a price-to-earnings ratio of -0.86 and a beta of 0.53. 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 (NYSE:HE) last posted its earnings results on Friday, November 8th. The utilities provider reported $0.46 earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $983.38 million during the quarter. During the same quarter in the previous year, the business posted $0.37 EPS. The business’s revenue for the quarter was up 9.0% on a year-over-year basis. As a group, sell-side analysts forecast that Hawaiian Electric Industries, Inc. will post 1.71 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Jefferies Financial Group initiated coverage on shares of Hawaiian Electric Industries in a research report on Tuesday, December 3rd. They set a “hold” rating and a $11.50 price target for the company. Evercore ISI lowered their target price on shares of Hawaiian Electric Industries from $11.00 to $10.00 and set an “in-line” rating for the company in a report on Tuesday, November 19th. StockNews.com cut shares of Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a research report on Friday, October 4th. Finally, Wells Fargo & Company reduced their price target on Hawaiian Electric Industries from $14.00 to $11.50 and set an “equal weight” rating on the stock in a research report on Monday, September 30th.

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.