Hawaiian Electric Industries, Inc. (NYSE:HE) Stock Holdings Cut by Victory Capital Management Inc.

Victory Capital Management Inc. cut its stake in Hawaiian Electric Industries, Inc. (NYSE:HE - Free Report) by 58.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,287 shares of the utilities provider's stock after selling 30,186 shares during the period. Victory Capital Management Inc.'s holdings in Hawaiian Electric Industries were worth $207,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Blue Trust Inc. increased its holdings in shares of 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 acquiring an additional 2,062 shares during the last quarter. R Squared Ltd acquired a new position in Hawaiian Electric Industries in the fourth quarter worth $36,000. KBC Group NV increased its stake in Hawaiian Electric Industries by 34.8% during the third 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 during the last quarter. Quarry LP raised its holdings in shares of Hawaiian Electric Industries by 156.6% during the third quarter. Quarry LP now owns 4,503 shares of the utilities provider's stock worth $44,000 after purchasing an additional 2,748 shares during the period. Finally, Jones Financial Companies Lllp lifted its position in shares of Hawaiian Electric Industries by 63.9% in the 4th quarter. Jones Financial Companies Lllp now owns 4,844 shares of the utilities provider's stock worth $47,000 after buying an additional 1,889 shares during the last quarter. 59.91% of the stock is currently owned by institutional investors.

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Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on HE shares. StockNews.com lowered shares of Hawaiian Electric Industries from a "hold" rating to a "sell" rating in a research note on Tuesday, February 11th. Barclays raised 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. Jefferies Financial Group lowered their price objective on 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. Evercore ISI upgraded Hawaiian Electric Industries from an "in-line" rating to an "outperform" rating and raised their target price for the company from $12.00 to $14.00 in a research note on Friday, March 7th. Finally, Wells Fargo & Company boosted their price target 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 research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Hawaiian Electric Industries currently has a consensus rating of "Hold" and a consensus price target of $12.00.

Hawaiian Electric Industries Stock Performance

HE traded up $0.24 during trading hours on Thursday, hitting $11.17. The company's stock had a trading volume of 1,669,736 shares, compared to its average volume of 3,043,722. The company has a 50-day simple moving average of $10.26 and a 200 day simple moving average of $10.17. The company has a current ratio of 0.18, a quick ratio of 0.18 and a debt-to-equity ratio of 1.80. The firm has a market capitalization of $1.93 billion, a PE 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 - Get Free Report) last issued its quarterly 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 business 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%. As a group, sell-side analysts expect that Hawaiian Electric Industries, Inc. will post 1.71 EPS for the current year.

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.