Marshall Wace LLP Reduces Stock Holdings in Hawaiian Electric Industries, Inc. (NYSE:HE)

Marshall Wace LLP reduced its stake in shares of Hawaiian Electric Industries, Inc. (NYSE:HE) by 84.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 440,890 shares of the utilities provider’s stock after selling 2,464,949 shares during the quarter. Marshall Wace LLP owned approximately 0.26% of Hawaiian Electric Industries worth $4,290,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in HE. Blue Trust Inc. grew its stake in Hawaiian Electric Industries by 203.0% in the fourth quarter. Blue Trust Inc. now owns 3,078 shares of the utilities provider’s stock worth $30,000 after purchasing an additional 2,062 shares during the period. R Squared Ltd bought a new stake in shares of Hawaiian Electric Industries during the 4th quarter valued at $36,000. Jones Financial Companies Lllp grew its position in shares of Hawaiian Electric Industries by 63.9% in the 4th quarter. Jones Financial Companies Lllp now owns 4,844 shares of the utilities provider’s stock worth $47,000 after buying an additional 1,889 shares during the period. Sterling Capital Management LLC increased its stake in shares of Hawaiian Electric Industries by 816.0% in the 4th quarter. Sterling Capital Management LLC now owns 5,221 shares of the utilities provider’s stock worth $51,000 after acquiring an additional 4,651 shares in the last quarter. Finally, Amalgamated Bank lifted its position in Hawaiian Electric Industries by 50.9% during the 4th quarter. Amalgamated Bank now owns 5,650 shares of the utilities provider’s stock valued at $55,000 after acquiring an additional 1,905 shares during the period. 59.91% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Barclays raised their target price on shares of 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. Evercore ISI raised Hawaiian Electric Industries from an “in-line” rating to an “outperform” rating and raised their price objective for the company from $12.00 to $14.00 in a research report on Friday, March 7th. 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 target on Hawaiian Electric Industries from $11.50 to $10.50 and set a “hold” rating for the company in a report on Friday, January 3rd. Finally, Wells Fargo & Company upped their price target on shares of 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 issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Hawaiian Electric Industries currently has a consensus rating of “Hold” and an average target price of $12.00.

Hawaiian Electric Industries Stock Up 0.4 %

HE stock opened at $10.36 on Friday. The stock has a market capitalization of $1.79 billion, a P/E ratio of -0.88 and a beta of 0.51. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.18 and a quick ratio of 0.18. Hawaiian Electric Industries, Inc. has a 1-year low of $7.61 and a 1-year high of $18.19. The business has a fifty day moving average price of $10.61 and a 200-day moving average price of $10.12.

Hawaiian Electric Industries (NYSE:HE) last issued its earnings results on Friday, February 21st. The utilities provider reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.19). The business had revenue of $799.18 million during the quarter. Hawaiian Electric Industries had a positive return on equity of 11.12% and a negative net margin of 35.38%. Equities 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.