Hawaiian Electric Industries, Inc. (NYSE:HE) Shares Sold by Raymond James & Associates

Raymond James & Associates trimmed its stake in shares of Hawaiian Electric Industries, Inc. (NYSE:HE) by 31.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,245 shares of the utilities provider’s stock after selling 8,484 shares during the quarter. Raymond James & Associates’ holdings in Hawaiian Electric Industries were worth $259,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. SG Americas Securities LLC raised its position in shares of Hawaiian Electric Industries by 303.1% during the 4th quarter. SG Americas Securities LLC now owns 36,834 shares of the utilities provider’s stock valued at $523,000 after acquiring an additional 27,697 shares in the last quarter. Wedmont Private Capital acquired a new position in shares of Hawaiian Electric Industries in the 4th quarter valued at about $183,000. Arden Trust Co grew its position in shares of Hawaiian Electric Industries by 25.2% during the 4th quarter. Arden Trust Co now owns 176,889 shares of the utilities provider’s stock valued at $2,510,000 after buying an additional 35,577 shares during the last quarter. AQR Capital Management LLC lifted its holdings in Hawaiian Electric Industries by 1,470.8% in the third quarter. AQR Capital Management LLC now owns 6,120,053 shares of the utilities provider’s stock worth $75,338,000 after acquiring an additional 5,730,428 shares during the last quarter. Finally, Quadrature Capital Ltd acquired a new position in Hawaiian Electric Industries in the third quarter valued at approximately $1,670,000. Institutional investors own 59.91% of the company’s stock.

Hawaiian Electric Industries Price Performance

Shares of NYSE HE opened at $10.03 on Tuesday. The firm has a 50-day moving average of $11.25 and a two-hundred day moving average of $12.60. The company has a market capitalization of $1.11 billion, a price-to-earnings ratio of 5.54 and a beta of 0.53. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 1.21. Hawaiian Electric Industries, Inc. has a twelve month low of $8.74 and a twelve month high of $40.16.

Hawaiian Electric Industries (NYSE:HE) last posted its quarterly earnings results on Tuesday, February 13th. The utilities provider reported $0.48 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.48. The firm had revenue of $961.40 million for the quarter. Hawaiian Electric Industries had a net margin of 5.45% and a return on equity of 9.99%. The company’s quarterly revenue was down 5.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.52 EPS. As a group, analysts expect that Hawaiian Electric Industries, Inc. will post 1.98 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on HE. StockNews.com raised Hawaiian Electric Industries from a “sell” rating to a “hold” rating in a research report on Monday, April 15th. Evercore ISI lifted their price objective on shares of Hawaiian Electric Industries from $7.00 to $11.00 and gave the company an “in-line” rating in a research note on Thursday, February 15th. Two analysts have rated the stock with a sell rating and two have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $11.50.

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.