M&T Bank Corp Sells 26,078 Shares of Hawaiian Electric Industries, Inc. (NYSE:HE)

M&T Bank Corp lowered its position in shares of Hawaiian Electric Industries, Inc. (NYSE:HE) by 36.5% in the 3rd quarter, HoldingsChannel reports. The firm owned 45,346 shares of the utilities provider’s stock after selling 26,078 shares during the quarter. M&T Bank Corp’s holdings in Hawaiian Electric Industries were worth $439,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of HE. KBC Group NV grew its holdings in shares of Hawaiian Electric Industries by 34.8% during the 3rd quarter. KBC Group NV now owns 3,956 shares of the utilities provider’s stock valued at $38,000 after purchasing an additional 1,021 shares during the last quarter. UMB Bank n.a. bought a new stake in Hawaiian Electric Industries in the third quarter worth $42,000. Quarry LP boosted its position in Hawaiian Electric Industries by 156.6% during the third quarter. Quarry LP now owns 4,503 shares of the utilities provider’s stock valued at $44,000 after buying an additional 2,748 shares during the period. Millburn Ridgefield Corp bought a new position in shares of Hawaiian Electric Industries during the third quarter valued at about $55,000. Finally, Signaturefd LLC increased its holdings in shares of Hawaiian Electric Industries by 30.8% in the second quarter. Signaturefd LLC now owns 8,437 shares of the utilities provider’s stock worth $76,000 after buying an additional 1,986 shares during the period. 59.91% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on HE shares. Jefferies Financial Group started coverage on Hawaiian Electric Industries in a report on Tuesday, December 3rd. They set a “hold” rating and a $11.50 target price for the company. StockNews.com upgraded shares of Hawaiian Electric Industries from a “sell” rating to a “hold” rating in a report on Tuesday. Wells Fargo & Company lowered their price target on shares of Hawaiian Electric Industries from $14.00 to $11.50 and set an “equal weight” rating for the company in a report on Monday, September 30th. Finally, Evercore ISI cut their price target on shares of Hawaiian Electric Industries from $11.00 to $10.00 and set an “in-line” rating on the stock in a report on Tuesday, November 19th.

Hawaiian Electric Industries Trading Down 0.3 %

HE opened at $10.18 on Wednesday. Hawaiian Electric Industries, Inc. has a one year low of $7.61 and a one year high of $18.19. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.18 and a quick ratio of 0.18. The business has a 50 day simple moving average of $10.23 and a two-hundred day simple moving average of $11.11. The firm has a market capitalization of $1.76 billion, a price-to-earnings ratio of -0.86 and a beta of 0.53.

Hawaiian Electric Industries (NYSE:HE) last announced its earnings results on Friday, November 8th. The utilities provider reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.07). The business had revenue of $983.38 million for the quarter. Hawaiian Electric Industries had a negative net margin of 35.38% and a positive return on equity of 11.12%. The firm’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.37 EPS. Analysts predict that Hawaiian Electric Industries, Inc. will post 1.71 EPS for the current 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.