Bank of New York Mellon Corp reduced its position in Hawaiian Electric Industries, Inc. (NYSE:HE - Free Report) by 16.4% in the 4th quarter, according to the company in 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 period. Bank of New York Mellon Corp owned about 0.32% of Hawaiian Electric Industries worth $5,332,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also recently added to or reduced their stakes in the company. Virtu Financial LLC acquired a new stake in shares of Hawaiian Electric Industries in the third quarter worth approximately $821,000. FORA Capital LLC acquired a new stake in Hawaiian Electric Industries during the 3rd quarter worth $692,000. Franklin Resources Inc. grew its holdings in shares of 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 buying an additional 2,362,863 shares in the last quarter. FMR LLC raised its holdings in Hawaiian Electric Industries by 7,986.3% in the 3rd quarter. FMR LLC now owns 5,340,679 shares of the utilities provider's stock valued at $51,698,000 after acquiring an additional 5,274,633 shares during the last quarter. Finally, MetLife Investment Management LLC lifted its stake in Hawaiian Electric Industries by 239.6% in the 3rd quarter. MetLife Investment Management LLC now owns 94,991 shares of the utilities provider's stock worth $920,000 after purchasing an additional 67,020 shares in the last quarter. 59.91% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several equities research analysts recently commented on the company. StockNews.com cut Hawaiian Electric Industries from a "hold" rating to a "sell" rating in a report on Tuesday, February 11th. Barclays lifted their price target 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. Evercore ISI raised shares of Hawaiian Electric Industries from an "in-line" rating to an "outperform" rating and upped their price objective for the company from $12.00 to $14.00 in a report on Friday, March 7th. Wells Fargo & Company boosted their target price 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. Finally, Jefferies Financial Group cut their price target on shares of Hawaiian Electric Industries from $11.50 to $10.50 and set a "hold" rating for the company in a report on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, Hawaiian Electric Industries presently has a consensus rating of "Hold" and a consensus target price of $12.00.
Get Our Latest Analysis on Hawaiian Electric Industries
Hawaiian Electric Industries Trading Down 0.9 %
NYSE:HE traded down $0.11 during trading hours on Friday, reaching $10.98. 1,717,541 shares of the stock were exchanged, compared to its average volume of 3,461,333. Hawaiian Electric Industries, Inc. has a twelve month low of $7.61 and a twelve month high of $18.19. The business has a 50-day moving average of $10.06 and a two-hundred day moving average of $10.19. The company has a market capitalization of $1.89 billion, a price-to-earnings ratio of -0.93 and a beta of 0.46. 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:HE - Get Free Report) last announced its earnings results on Friday, February 21st. The utilities provider reported $0.20 EPS for the quarter, missing analysts' consensus estimates of $0.39 by ($0.19). The firm had revenue of $799.18 million for the quarter. Hawaiian Electric Industries had a negative net margin of 35.38% and a positive return on equity of 11.12%. On average, equities analysts predict that Hawaiian Electric Industries, Inc. will post 1.71 EPS for the current year.
Hawaiian Electric Industries Profile
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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.
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