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

M&T Bank Corp cut its holdings in shares of Hawaiian Electric Industries, Inc. (NYSE:HE - Free Report) by 49.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 23,037 shares of the utilities provider's stock after selling 22,309 shares during the quarter. M&T Bank Corp's holdings in Hawaiian Electric Industries were worth $224,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Virtu Financial LLC bought a new position in Hawaiian Electric Industries in the 3rd quarter worth about $821,000. FORA Capital LLC purchased a new position in Hawaiian Electric Industries during the third quarter valued at approximately $692,000. Franklin Resources Inc. increased its holdings in Hawaiian Electric Industries by 656.7% during the 3rd quarter. Franklin Resources Inc. now owns 2,722,668 shares of the utilities provider's stock worth $27,499,000 after acquiring an additional 2,362,863 shares during the period. FMR LLC lifted its stake 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 worth $51,698,000 after purchasing an additional 5,274,633 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Hawaiian Electric Industries by 20.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,021,649 shares of the utilities provider's stock valued at $29,250,000 after purchasing an additional 514,989 shares during the period. Institutional investors own 59.91% of the company's stock.

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Hawaiian Electric Industries Trading Up 0.1 %

HE traded up $0.01 during midday trading on Wednesday, reaching $11.02. 1,168,162 shares of the company's stock traded hands, compared to its average volume of 3,454,242. Hawaiian Electric Industries, Inc. has a 52 week low of $7.61 and a 52 week high of $18.19. 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 firm has a fifty day moving average of $9.97 and a two-hundred day moving average of $10.17. The stock has a market capitalization of $1.90 billion, a price-to-earnings ratio of -0.93 and a beta of 0.46.

Hawaiian Electric Industries (NYSE:HE - Get Free Report) 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 positive return on equity of 11.12% and a negative net margin of 35.38%. The business had revenue of $799.18 million during the quarter. On average, equities analysts anticipate that Hawaiian Electric Industries, Inc. will post 1.71 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Wells Fargo & Company increased their price objective 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. Jefferies Financial Group cut their price objective on Hawaiian Electric Industries from $11.50 to $10.50 and set a "hold" rating for the company in a report on Friday, January 3rd. StockNews.com downgraded shares of Hawaiian Electric Industries from a "hold" rating to a "sell" rating in a research note on Tuesday, February 11th. Evercore ISI raised shares of Hawaiian Electric Industries from an "in-line" rating to an "outperform" rating and boosted their price target for the stock from $12.00 to $14.00 in a research note on Friday, March 7th. Finally, Barclays raised their price objective on shares of Hawaiian Electric Industries from $10.00 to $11.00 and gave the company an "equal weight" rating in a research report on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat, Hawaiian Electric Industries currently has an average rating of "Hold" and a consensus target price 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.