HB Wealth Management LLC Cuts Holdings in Hawaiian Electric Industries, Inc. (NYSE:HE)

HB Wealth Management LLC reduced its holdings in Hawaiian Electric Industries, Inc. (NYSE:HEFree Report) by 13.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,382 shares of the utilities provider’s stock after selling 1,876 shares during the quarter. HB Wealth Management LLC’s holdings in Hawaiian Electric Industries were worth $120,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Assenagon Asset Management S.A. grew its position in Hawaiian Electric Industries by 92.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 313,035 shares of the utilities provider’s stock worth $3,046,000 after buying an additional 150,735 shares during the period. FNY Investment Advisers LLC acquired a new stake in shares of Hawaiian Electric Industries in the 4th quarter worth approximately $119,000. Brookstone Capital Management purchased a new position in Hawaiian Electric Industries in the 4th quarter valued at approximately $101,000. Diversified Trust Co raised its holdings in Hawaiian Electric Industries by 2.9% during the fourth quarter. Diversified Trust Co now owns 41,455 shares of the utilities provider’s stock worth $403,000 after purchasing an additional 1,184 shares during the last quarter. Finally, Franklin Resources Inc. boosted its position in Hawaiian Electric Industries by 656.7% during the third quarter. Franklin Resources Inc. now owns 2,722,668 shares of the utilities provider’s stock worth $27,499,000 after purchasing an additional 2,362,863 shares in the last quarter. 59.91% of the stock is currently owned by hedge funds and other institutional investors.

Hawaiian Electric Industries Stock Down 1.6 %

HE opened at $8.95 on Friday. The business’s fifty day simple moving average is $9.80 and its 200 day simple moving average is $11.08. Hawaiian Electric Industries, Inc. has a 52 week low of $7.61 and a 52 week high of $18.19. The firm has a market cap of $1.54 billion, a P/E ratio of -0.76 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.

Hawaiian Electric Industries (NYSE:HEGet Free Report) last issued 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). The firm had revenue of $983.38 million for the quarter. Hawaiian Electric Industries had a positive return on equity of 11.12% and a negative net margin of 35.38%. Hawaiian Electric Industries’s quarterly revenue was up 9.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.37 EPS. As a group, equities research analysts anticipate that Hawaiian Electric Industries, Inc. will post 1.71 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Evercore ISI dropped their price target on Hawaiian Electric Industries from $11.00 to $10.00 and set an “in-line” rating for the company in a research report on Tuesday, November 19th. StockNews.com upgraded shares of Hawaiian Electric Industries from a “sell” rating to a “hold” rating in a report on Saturday, January 11th. Jefferies Financial Group reduced their price target on shares of Hawaiian Electric Industries from $11.50 to $10.50 and set a “hold” rating on the stock in a report on Friday, January 3rd. Finally, Wells Fargo & Company dropped 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.

Read Our Latest Analysis on HE

Hawaiian Electric Industries Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Hawaiian Electric Industries (NYSE:HE)

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