Hawaiian Electric Industries, Inc. (NYSE:HE) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp reduced its holdings in Hawaiian Electric Industries, Inc. (NYSE:HE) by 16.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 548,047 shares of the utilities provider’s stock after selling 107,389 shares during the quarter. Bank of New York Mellon Corp owned about 0.32% of Hawaiian Electric Industries worth $5,332,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Blue Trust Inc. increased its stake in Hawaiian Electric Industries by 203.0% in the 4th quarter. Blue Trust Inc. now owns 3,078 shares of the utilities provider’s stock valued at $30,000 after purchasing an additional 2,062 shares in the last quarter. R Squared Ltd purchased a new position in Hawaiian Electric Industries in the 4th quarter valued at approximately $36,000. KBC Group NV increased its stake in 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 purchasing an additional 1,021 shares in the last quarter. Quarry LP increased its stake in Hawaiian Electric Industries by 156.6% in the 3rd quarter. Quarry LP now owns 4,503 shares of the utilities provider’s stock valued at $44,000 after purchasing an additional 2,748 shares in the last quarter. Finally, Millburn Ridgefield Corp purchased a new position in Hawaiian Electric Industries in the 3rd quarter valued at approximately $55,000. 59.91% of the stock is owned by institutional investors and hedge funds.

Hawaiian Electric Industries Stock Performance

Hawaiian Electric Industries stock opened at $11.18 on Tuesday. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.18 and a current ratio of 0.18. The stock has a fifty day moving average of $9.93 and a two-hundred day moving average of $10.17. The company has a market capitalization of $1.93 billion, a price-to-earnings ratio of -0.94 and a beta of 0.46. Hawaiian Electric Industries, Inc. has a fifty-two week low of $7.61 and a fifty-two week high of $18.19.

Hawaiian Electric Industries (NYSE:HE) last released its quarterly earnings results on Friday, February 21st. The utilities provider reported $0.20 earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $799.18 million for the quarter. On average, analysts anticipate that Hawaiian Electric Industries, Inc. will post 1.71 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on HE shares. StockNews.com downgraded Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a research note on Tuesday, February 11th. Evercore ISI raised Hawaiian Electric Industries from an “in-line” rating to an “outperform” rating and raised their price objective for the company from $12.00 to $14.00 in a research note on Friday, March 7th. Barclays raised their price objective on Hawaiian Electric Industries from $10.00 to $11.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 4th. Jefferies Financial Group dropped their price target on Hawaiian Electric Industries from $11.50 to $10.50 and set a “hold” rating for the company in a research report on Friday, January 3rd. Finally, Wells Fargo & Company raised their price target on Hawaiian Electric Industries from $11.00 to $12.50 and gave the stock an “equal weight” rating in a research report on Thursday, February 27th. One investment 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’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $12.00.

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.