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

Bank of New York Mellon Corp decreased its holdings in shares of Hawaiian Electric Industries, Inc. (NYSE:HE) by 16.4% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 548,047 shares of the utilities provider’s stock after selling 107,389 shares during the quarter. Bank of New York Mellon Corp’s holdings in Hawaiian Electric Industries were worth $5,332,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Virtu Financial LLC acquired a new position in Hawaiian Electric Industries in the third quarter valued at $821,000. FORA Capital LLC acquired a new position in Hawaiian Electric Industries in the third quarter valued at $692,000. Franklin Resources Inc. boosted its holdings in Hawaiian Electric Industries by 656.7% in the third quarter. Franklin Resources Inc. now owns 2,722,668 shares of the utilities provider’s stock valued at $27,499,000 after acquiring an additional 2,362,863 shares during the last quarter. FMR LLC boosted its holdings in Hawaiian Electric Industries by 7,986.3% in the third 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 shares of Hawaiian Electric Industries by 239.6% during the third 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. Institutional investors and hedge funds own 59.91% of the company’s stock.

Wall Street Analysts Forecast Growth

HE has been the topic of a number of recent research reports. 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 research note on Friday, January 3rd. StockNews.com cut Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a research note on Tuesday, February 11th. Evercore ISI upgraded Hawaiian Electric Industries from an “in-line” rating to an “outperform” rating and boosted their price objective for the stock from $12.00 to $14.00 in a research note on Friday, March 7th. Barclays boosted their price objective on Hawaiian Electric Industries from $10.00 to $11.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 4th. Finally, Wells Fargo & Company boosted their price objective on Hawaiian Electric Industries from $11.00 to $12.50 and gave the stock an “equal weight” rating in a research note 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 company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $12.00.

Hawaiian Electric Industries Stock Down 0.6 %

Shares of NYSE HE opened at $11.18 on Tuesday. Hawaiian Electric Industries, Inc. has a 1 year low of $7.61 and a 1 year high of $18.19. The firm has a market cap of $1.93 billion, a price-to-earnings ratio of -0.94 and a beta of 0.46. 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’s 50-day simple moving average is $9.93 and its 200-day simple moving average is $10.17.

Hawaiian Electric Industries (NYSE:HE) last announced its earnings results on Friday, February 21st. The utilities provider reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter. As a group, equities analysts anticipate that Hawaiian Electric Industries, Inc. will post 1.71 earnings per share for the current fiscal year.

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.