T. Rowe Price Investment Management Inc. Reduces Stake in Hawaiian Electric Industries, Inc. $HE

T. Rowe Price Investment Management Inc. reduced its position in Hawaiian Electric Industries, Inc. (NYSE:HE) by 8.5% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 10,818,655 shares of the utilities provider’s stock after selling 1,001,410 shares during the period. T. Rowe Price Investment Management Inc. owned 0.06% of Hawaiian Electric Industries worth $118,465,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Allworth Financial LP raised its holdings in Hawaiian Electric Industries by 379.3% during the first quarter. Allworth Financial LP now owns 2,574 shares of the utilities provider’s stock valued at $27,000 after acquiring an additional 2,037 shares during the period. Farther Finance Advisors LLC boosted its position in shares of Hawaiian Electric Industries by 3,797.8% during the first quarter. Farther Finance Advisors LLC now owns 3,469 shares of the utilities provider’s stock valued at $38,000 after buying an additional 3,380 shares during the period. Byrne Asset Management LLC raised its stake in shares of Hawaiian Electric Industries by 34.0% during the first quarter. Byrne Asset Management LLC now owns 3,887 shares of the utilities provider’s stock valued at $43,000 after acquiring an additional 987 shares in the last quarter. Comerica Bank raised its stake in shares of Hawaiian Electric Industries by 69.3% during the fourth quarter. Comerica Bank now owns 4,189 shares of the utilities provider’s stock valued at $41,000 after acquiring an additional 1,715 shares in the last quarter. Finally, US Bancorp DE raised its stake in Hawaiian Electric Industries by 51.2% in the first quarter. US Bancorp DE now owns 4,293 shares of the utilities provider’s stock worth $47,000 after buying an additional 1,453 shares in the last quarter. 59.91% of the stock is owned by institutional investors.

Hawaiian Electric Industries Stock Performance

Hawaiian Electric Industries stock opened at $11.6250 on Friday. The company has a debt-to-equity ratio of 1.52, a current ratio of 1.07 and a quick ratio of 1.07. The stock has a market cap of $2.01 billion, a price-to-earnings ratio of -11.51 and a beta of 0.64. The firm has a 50 day simple moving average of $10.85 and a 200-day simple moving average of $10.63. Hawaiian Electric Industries, Inc. has a 1-year low of $8.14 and a 1-year high of $13.18.

Hawaiian Electric Industries (NYSE:HE) last posted its quarterly earnings data on Thursday, August 7th. The utilities provider reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.04). Hawaiian Electric Industries had a positive return on equity of 10.76% and a negative net margin of 3.66%.The company had revenue of $746.39 million for the quarter. On average, analysts expect that Hawaiian Electric Industries, Inc. will post 1.71 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on HE. Wall Street Zen raised Hawaiian Electric Industries from a “sell” rating to a “hold” rating in a research report on Monday, May 12th. Barclays lowered their price target on shares of Hawaiian Electric Industries from $11.00 to $10.00 and set an “equal weight” rating on the stock in a report on Thursday, July 10th. Finally, Jefferies Financial Group increased their target price on shares of Hawaiian Electric Industries from $11.00 to $11.25 and gave the stock a “hold” rating in a research note on Wednesday, May 28th. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $11.94.

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.