UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 4,348 Shares of Hawaiian Electric Industries, Inc. (NYSE:HE)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its position in shares of Hawaiian Electric Industries, Inc. (NYSE:HE) by 1.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 270,359 shares of the utilities provider’s stock after selling 4,348 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.25% of Hawaiian Electric Industries worth $2,617,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Cetera Advisors LLC bought a new stake in Hawaiian Electric Industries during the first quarter valued at approximately $182,000. SG Americas Securities LLC bought a new stake in shares of Hawaiian Electric Industries during the 2nd quarter valued at $172,000. Pallas Capital Advisors LLC bought a new stake in shares of Hawaiian Electric Industries during the 2nd quarter valued at $127,000. Bank of New York Mellon Corp increased its stake in shares of Hawaiian Electric Industries by 23.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 638,156 shares of the utilities provider’s stock worth $5,756,000 after purchasing an additional 120,208 shares in the last quarter. Finally, Panagora Asset Management Inc. raised its holdings in Hawaiian Electric Industries by 716.5% in the 2nd quarter. Panagora Asset Management Inc. now owns 187,690 shares of the utilities provider’s stock worth $1,693,000 after purchasing an additional 164,702 shares during the period. 59.91% of the stock is currently owned by hedge funds and other institutional investors.

Hawaiian Electric Industries Price Performance

NYSE:HE opened at $10.20 on Friday. The stock has a market cap of $1.76 billion, a PE ratio of -0.86 and a beta of 0.53. The company has a quick ratio of 0.18, a current ratio of 0.18 and a debt-to-equity ratio of 1.80. The business’s 50-day simple moving average is $10.22 and its two-hundred day simple moving average is $11.11. Hawaiian Electric Industries, Inc. has a 52 week low of $7.61 and a 52 week high of $18.19.

Hawaiian Electric Industries (NYSE:HE) last posted its quarterly earnings results on Friday, November 8th. The utilities provider reported $0.46 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 quarter in the previous year, the company posted $0.37 earnings per share. The company’s quarterly revenue was up 9.0% compared to the same quarter last year. As a group, analysts forecast that Hawaiian Electric Industries, Inc. will post 1.71 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have issued reports on HE shares. Wells Fargo & Company cut their price target on Hawaiian Electric Industries from $14.00 to $11.50 and set an “equal weight” rating for the company in a report on Monday, September 30th. StockNews.com downgraded Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a research note on Friday, October 4th. Jefferies Financial Group started coverage on shares of Hawaiian Electric Industries in a report on Tuesday, December 3rd. They issued a “hold” rating and a $11.50 target price for the company. Finally, Evercore ISI lowered 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 report 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.