Cresset Asset Management LLC Reduces Stock Holdings in Hawaiian Electric Industries, Inc. (NYSE:HE)

Cresset Asset Management LLC trimmed its holdings in Hawaiian Electric Industries, Inc. (NYSE:HE - Free Report) by 74.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,192 shares of the utilities provider's stock after selling 39,058 shares during the quarter. Cresset Asset Management LLC's holdings in Hawaiian Electric Industries were worth $128,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Blue Trust Inc. lifted its stake in shares of Hawaiian Electric Industries by 203.0% in the 4th quarter. Blue Trust Inc. now owns 3,078 shares of the utilities provider's stock valued at $30,000 after purchasing an additional 2,062 shares during the period. R Squared Ltd acquired a new position in shares of Hawaiian Electric Industries in the 4th quarter valued at about $36,000. Comerica Bank increased its position in Hawaiian Electric Industries by 69.3% in the 4th quarter. Comerica Bank now owns 4,189 shares of the utilities provider's stock valued at $41,000 after buying an additional 1,715 shares in the last quarter. Jones Financial Companies Lllp increased its position in 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 valued at $47,000 after buying an additional 1,889 shares in the last quarter. Finally, Sterling Capital Management LLC increased its position in 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 valued at $51,000 after buying an additional 4,651 shares in the last quarter. 59.91% of the stock is owned by institutional investors and hedge funds.

Hawaiian Electric Industries Stock Down 0.3%

HE traded down $0.04 during midday trading on Thursday, reaching $10.56. 1,333,769 shares of the company were exchanged, compared to its average volume of 3,418,904. 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 company's fifty day moving average price is $10.46 and its 200 day moving average price is $10.18. The company has a market cap of $1.82 billion, a price-to-earnings ratio of -0.89 and a beta of 0.64. Hawaiian Electric Industries, Inc. has a one year low of $7.61 and a one year high of $18.19.

Hawaiian Electric Industries (NYSE:HE - Get Free Report) last issued its quarterly earnings data on Friday, May 9th. The utilities provider reported $0.23 EPS for the quarter, hitting analysts' consensus estimates of $0.23. The firm had revenue of $744.07 million during the quarter. Hawaiian Electric Industries had a positive return on equity of 11.12% and a negative net margin of 35.38%. During the same period in the prior year, the firm posted $0.38 earnings per share. As a group, analysts expect that Hawaiian Electric Industries, Inc. will post 1.71 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on HE shares. Wall Street Zen raised Hawaiian Electric Industries from a "sell" rating to a "hold" rating in a research report on Monday, May 12th. Wells Fargo & Company boosted their target price on Hawaiian Electric Industries from $11.00 to $12.50 and gave the company an "equal weight" rating in a research report on Thursday, February 27th. Barclays boosted their target price on Hawaiian Electric Industries from $10.00 to $11.00 and gave the company an "equal weight" rating in a research report on Tuesday, March 4th. Finally, Evercore ISI raised Hawaiian Electric Industries from an "in-line" rating to an "outperform" rating and boosted their target price for the company from $12.00 to $14.00 in a research report on Friday, March 7th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, Hawaiian Electric Industries currently has an average rating of "Hold" and an average price target of $12.00.

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.