M&T Bank Corp Sells 22,309 Shares of Hawaiian Electric Industries, Inc. (NYSE:HE)

M&T Bank Corp reduced its stake in shares of Hawaiian Electric Industries, Inc. (NYSE:HE) by 49.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,037 shares of the utilities provider’s stock after selling 22,309 shares during the period. M&T Bank Corp’s holdings in Hawaiian Electric Industries were worth $224,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of HE. Zimmer Partners LP bought a new position in Hawaiian Electric Industries during the third quarter valued at about $145,200,000. FMR LLC raised its holdings in Hawaiian Electric Industries by 7,986.3% during the third quarter. FMR LLC now owns 5,340,679 shares of the utilities provider’s stock valued at $51,698,000 after buying an additional 5,274,633 shares in the last quarter. Franklin Resources Inc. increased its stake in shares of Hawaiian Electric Industries by 656.7% in 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 during the period. Geode Capital Management LLC increased its stake in shares of Hawaiian Electric Industries by 49.3% in the third quarter. Geode Capital Management LLC now owns 3,793,142 shares of the utilities provider’s stock worth $36,725,000 after purchasing an additional 1,253,143 shares during the period. Finally, State Street Corp increased its stake in shares of Hawaiian Electric Industries by 19.8% in the third quarter. State Street Corp now owns 3,368,096 shares of the utilities provider’s stock worth $32,603,000 after purchasing an additional 556,747 shares during the period. 59.91% of the stock is currently owned by institutional investors.

Hawaiian Electric Industries Trading Up 3.2 %

Shares of HE opened at $11.25 on Friday. Hawaiian Electric Industries, Inc. has a 12-month low of $7.61 and a 12-month high of $18.19. 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 firm has a market capitalization of $1.94 billion, a price-to-earnings ratio of -0.95 and a beta of 0.46. The stock’s 50-day moving average price is $9.89 and its 200 day moving average price is $10.18.

Hawaiian Electric Industries (NYSE:HE) last issued its quarterly earnings results on Friday, February 21st. The utilities provider reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.19). Hawaiian Electric Industries had a negative net margin of 35.38% and a positive return on equity of 11.12%. The firm had revenue of $799.18 million for the quarter. As a group, research analysts predict that Hawaiian Electric Industries, Inc. will post 1.71 earnings per share for the current year.

Analyst Upgrades and Downgrades

HE has been the topic of a number of recent analyst reports. Barclays lifted their price objective on Hawaiian Electric Industries from $10.00 to $11.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 4th. StockNews.com lowered Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a research note on Tuesday, February 11th. Jefferies Financial Group dropped their price objective on Hawaiian Electric Industries from $11.50 to $10.50 and set a “hold” rating on the stock in a research note on Friday, January 3rd. Wells Fargo & Company lifted their price objective on Hawaiian Electric Industries from $11.00 to $12.50 and gave the stock an “equal weight” rating in a research note on Thursday, February 27th. Finally, Evercore ISI upgraded Hawaiian Electric Industries from an “in-line” rating to an “outperform” rating and lifted their price objective for the stock from $12.00 to $14.00 in a research note on Friday, March 7th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, Hawaiian Electric Industries presently has a consensus rating of “Hold” and a consensus price target of $12.00.

Hawaiian Electric Industries Company 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.