Hawaiian Electric Industries, Inc. (NYSE:HE) Shares Sold by Newtyn Management LLC

Newtyn Management LLC lessened its position in Hawaiian Electric Industries, Inc. (NYSE:HE) by 75.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 700,000 shares of the utilities provider’s stock after selling 2,182,512 shares during the period. Hawaiian Electric Industries makes up 1.2% of Newtyn Management LLC’s holdings, making the stock its 25th largest position. Newtyn Management LLC owned about 0.41% of Hawaiian Electric Industries worth $6,811,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of HE. Charles Schwab Investment Management Inc. grew its holdings in shares of Hawaiian Electric Industries by 14.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,471,522 shares of the utilities provider’s stock valued at $33,778,000 after buying an additional 449,873 shares in the last quarter. Mad River Investors acquired a new position in shares of Hawaiian Electric Industries in the 4th quarter valued at about $1,171,000. Proficio Capital Partners LLC acquired a new stake in shares of Hawaiian Electric Industries during the fourth quarter worth approximately $142,000. Raymond James Financial Inc. purchased a new position in Hawaiian Electric Industries during the fourth quarter valued at approximately $342,000. Finally, Geode Capital Management LLC increased its stake in Hawaiian Electric Industries by 3.5% in the 4th quarter. Geode Capital Management LLC now owns 3,925,882 shares of the utilities provider’s stock valued at $38,208,000 after buying an additional 132,740 shares during the period. 59.91% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have issued reports on HE. Evercore ISI upgraded shares of Hawaiian Electric Industries from an “in-line” rating to an “outperform” rating and lifted their target price for the company from $12.00 to $14.00 in a research note on Friday, March 7th. StockNews.com raised Hawaiian Electric Industries from a “sell” rating to a “hold” rating in a research report on Monday. Barclays raised their price objective on Hawaiian Electric Industries from $10.00 to $11.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 4th. Finally, Wells Fargo & Company increased their price target on Hawaiian Electric Industries from $11.00 to $12.50 and gave the company an “equal weight” rating in a report on Thursday, February 27th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $12.00.

Hawaiian Electric Industries Trading Up 2.2%

Shares of HE stock opened at $10.93 on Wednesday. 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. The stock has a market cap of $1.89 billion, a price-to-earnings ratio of -0.92 and a beta of 0.64. The firm has a fifty day moving average of $10.51 and a 200-day moving average of $10.15.

Hawaiian Electric Industries (NYSE:HE) last posted its earnings results on Friday, May 9th. The utilities provider reported $0.23 EPS for the quarter, hitting the consensus estimate of $0.23. 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 $744.07 million during the quarter. During the same quarter last year, the business earned $0.38 EPS. On average, equities research analysts forecast that Hawaiian Electric Industries, Inc. will post 1.71 earnings per share for the current fiscal 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.