M&T Bank Corp Has $224,000 Stock Position in Hawaiian Electric Industries, Inc. (NYSE:HE)

M&T Bank Corp trimmed its stake in shares of Hawaiian Electric Industries, Inc. (NYSE:HE) by 49.2% during the fourth quarter, Holdings Channel reports. The firm owned 23,037 shares of the utilities provider’s stock after selling 22,309 shares during the period. M&T Bank Corp’s holdings in Hawaiian Electric Industries were worth $224,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in HE. Zimmer Partners LP acquired a new position in shares of Hawaiian Electric Industries in the 3rd quarter worth approximately $145,200,000. FMR LLC boosted its holdings in shares of 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 acquiring an additional 5,274,633 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Hawaiian Electric Industries by 49.3% in the 3rd quarter. Geode Capital Management LLC now owns 3,793,142 shares of the utilities provider’s stock worth $36,725,000 after acquiring an additional 1,253,143 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Hawaiian Electric Industries by 14.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,471,522 shares of the utilities provider’s stock worth $33,778,000 after acquiring an additional 449,873 shares in the last quarter. Finally, State Street Corp boosted its holdings in shares of Hawaiian Electric Industries by 19.8% in the 3rd quarter. State Street Corp now owns 3,368,096 shares of the utilities provider’s stock worth $32,603,000 after acquiring an additional 556,747 shares in the last quarter. 59.91% of the stock is owned by institutional investors and hedge funds.

Hawaiian Electric Industries Stock Performance

Shares of Hawaiian Electric Industries stock opened at $11.25 on Friday. The firm has a fifty day moving average of $9.89 and a two-hundred day moving average of $10.18. The stock has a market capitalization of $1.94 billion, a price-to-earnings ratio of -0.95 and a beta of 0.46. 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 quick ratio of 0.18 and a current ratio of 0.18.

Hawaiian Electric Industries (NYSE:HE) last issued its earnings results on Friday, February 21st. The utilities provider reported $0.20 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.19). Hawaiian Electric Industries had a negative net margin of 35.38% and a positive return on equity of 11.12%. The business had revenue of $799.18 million for the quarter. As a group, equities research analysts predict that Hawaiian Electric Industries, Inc. will post 1.71 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Wells Fargo & Company upped their price objective on Hawaiian Electric Industries from $11.00 to $12.50 and gave the stock an “equal weight” rating in a report on Thursday, February 27th. StockNews.com downgraded Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a report on Tuesday, February 11th. Jefferies Financial Group reduced their price objective on Hawaiian Electric Industries from $11.50 to $10.50 and set a “hold” rating on the stock in a report on Friday, January 3rd. Evercore ISI raised Hawaiian Electric Industries from an “in-line” rating to an “outperform” rating and upped their price objective for the stock from $12.00 to $14.00 in a report on Friday, March 7th. Finally, Barclays upped their price objective 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. 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 company. Based on data from MarketBeat.com, Hawaiian Electric Industries presently has an average rating of “Hold” and an average price target of $12.00.

Hawaiian Electric Industries 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.