Corebridge Financial Inc. Trims Stock Holdings in Hawaiian Electric Industries, Inc. (NYSE:HE)

Corebridge Financial Inc. lowered its holdings in shares of Hawaiian Electric Industries, Inc. (NYSE:HE) by 7.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 82,372 shares of the utilities provider’s stock after selling 6,218 shares during the quarter. Corebridge Financial Inc.’s holdings in Hawaiian Electric Industries were worth $801,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of HE. Vanguard Group Inc. boosted its position in Hawaiian Electric Industries by 6.5% in the 4th quarter. Vanguard Group Inc. now owns 18,231,969 shares of the utilities provider’s stock valued at $177,397,000 after buying an additional 1,112,150 shares during the period. LPL Financial LLC raised its stake in shares of Hawaiian Electric Industries by 13.1% during the fourth quarter. LPL Financial LLC now owns 47,444 shares of the utilities provider’s stock valued at $462,000 after acquiring an additional 5,489 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of Hawaiian Electric Industries in the fourth quarter valued at approximately $721,000. American Century Companies Inc. grew its stake in Hawaiian Electric Industries by 3.9% in the fourth quarter. American Century Companies Inc. now owns 223,660 shares of the utilities provider’s stock worth $2,176,000 after purchasing an additional 8,426 shares in the last quarter. Finally, Quantbot Technologies LP increased its holdings in Hawaiian Electric Industries by 195.8% during the 4th quarter. Quantbot Technologies LP now owns 428,646 shares of the utilities provider’s stock worth $4,171,000 after purchasing an additional 283,722 shares during the period. Institutional investors own 59.91% of the company’s stock.

Hawaiian Electric Industries Price Performance

HE opened at $9.97 on Friday. The firm has a market capitalization of $1.72 billion, a PE ratio of -0.84 and a beta of 0.51. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.18 and a quick ratio of 0.18. The business’s 50-day moving average is $10.48 and its two-hundred day moving average is $10.13. Hawaiian Electric Industries, Inc. has a 1 year low of $7.61 and a 1 year high of $18.19.

Hawaiian Electric Industries (NYSE:HE) last issued its quarterly earnings data on Friday, February 21st. The utilities provider reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.19). 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 $799.18 million during the quarter. Research analysts anticipate that Hawaiian Electric Industries, Inc. will post 1.71 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

HE has been the subject of several research reports. Barclays upped their target price on Hawaiian Electric Industries from $10.00 to $11.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 4th. Jefferies Financial Group lowered their price objective on shares of Hawaiian Electric Industries from $11.50 to $10.50 and set a “hold” rating for the company in a research note on Friday, January 3rd. StockNews.com downgraded shares of Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a research report on Tuesday, February 11th. Evercore ISI raised shares of Hawaiian Electric Industries from an “in-line” rating to an “outperform” rating and upped their price target for the stock from $12.00 to $14.00 in a research report on Friday, March 7th. Finally, Wells Fargo & Company lifted their price objective on shares of Hawaiian Electric Industries from $11.00 to $12.50 and gave the company an “equal weight” rating in a report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average 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.