Eagle Global Advisors LLC Sells 246,210 Shares of Hawaiian Electric Industries, Inc. $HE

Key Points

• Eagle Global Advisors cut its stake in Hawaiian Electric by 23.5%, selling 246,210 shares and leaving it with 799,640 shares (about 0.46% of the company) valued at roughly $9.84 million at quarter-end.
• Hawaiian Electric reported Q results with EPS of $0.24 (in line with estimates) and has a market cap of $2.67 billion and a P/E of 21.75; analysts hold a mixed view with an average rating of "Hold" and a consensus target price of $13.25.

Eagle Global Advisors LLC reduced its stake in Hawaiian Electric Industries, Inc. (NYSE:HE - Free Report) by 23.5% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 799,640 shares of the utilities provider's stock after selling 246,210 shares during the period. Eagle Global Advisors LLC owned 0.46% of Hawaiian Electric Industries worth $9,836,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in HE. Northwestern Mutual Wealth Management Co. boosted its position in shares of Hawaiian Electric Industries by 142.2% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 2,325 shares of the utilities provider's stock worth $26,000 after purchasing an additional 1,365 shares during the last quarter. Larson Financial Group LLC raised its stake in Hawaiian Electric Industries by 242.2% during the 3rd quarter. Larson Financial Group LLC now owns 2,741 shares of the utilities provider's stock worth $30,000 after buying an additional 1,940 shares during the period. CWM LLC raised its stake in Hawaiian Electric Industries by 41.3% during the 4th quarter. CWM LLC now owns 3,210 shares of the utilities provider's stock worth $39,000 after buying an additional 939 shares during the period. Farther Finance Advisors LLC raised its stake in Hawaiian Electric Industries by 37.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 4,125 shares of the utilities provider's stock worth $46,000 after buying an additional 1,125 shares during the period. Finally, SJS Investment Consulting Inc. acquired a new stake in Hawaiian Electric Industries during the 3rd quarter worth $46,000. 59.91% of the stock is currently owned by institutional investors.

Hawaiian Electric Industries Price Performance

NYSE:HE opened at $15.45 on Wednesday. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.32 and a current ratio of 1.32. The stock's 50-day simple moving average is $15.37 and its 200 day simple moving average is $13.59. The company has a market cap of $2.67 billion, a P/E ratio of 21.75 and a beta of 0.55. Hawaiian Electric Industries, Inc. has a 52-week low of $10.03 and a 52-week high of $17.38.

Hawaiian Electric Industries (NYSE:HE - Get Free Report) last released its earnings results on Friday, February 27th. The utilities provider reported $0.24 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.24. Hawaiian Electric Industries had a return on equity of 9.82% and a net margin of 4.09%.The business had revenue of $805.82 million for the quarter. As a group, sell-side analysts forecast that Hawaiian Electric Industries, Inc. will post 1.06 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on HE. Weiss Ratings raised Hawaiian Electric Industries from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Monday, March 2nd. Wall Street Zen downgraded Hawaiian Electric Industries from a "buy" rating to a "hold" rating in a research note on Saturday, April 11th. Zacks Research raised Hawaiian Electric Industries from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, April 7th. Barclays lifted their price target on Hawaiian Electric Industries from $13.00 to $14.00 and gave the company an "equal weight" rating in a research note on Monday, March 2nd. Finally, Jefferies Financial Group downgraded Hawaiian Electric Industries from a "hold" rating to an "underperform" rating and dropped their price target for the company from $13.50 to $12.50 in a research note on Tuesday, January 20th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $13.25.

Hawaiian Electric Industries Company Profile

Hawaiian Electric Industries, Inc is a diversified holding company operating in the energy and financial services sectors in the state of Hawaii. Its principal subsidiary, Hawaiian Electric Company, provides generation, transmission, distribution and customer service to the island of Oahu, while its Maui Electric and Hawaii Electric Light Company subsidiaries serve Maui, Molokai, Lanai and Hawaii Island. The roots of the electric utility business trace back to 1891 when service first commenced in Honolulu.

Through its subsidiary Hawaii Gas, HEI extends its energy portfolio to include the distribution of natural gas and propane, supporting residential, commercial and industrial customers across the islands.

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