Hsbc Holdings PLC Has $245,000 Holdings in Hawaiian Electric Industries, Inc. $HE

Key Points

• Hsbc Holdings PLC reduced its stake in Hawaiian Electric Industries by 65.5%, selling 42,218 shares to end up with 22,258 shares valued at $245,000.
• Several institutional investors recently increased their positions in Hawaiian Electric, with Algert Global LLC raising its holdings by 23.8% to 283,675 shares worth about $3.1 million.
• Hawaiian Electric Industries reported earnings of $0.20 per share, falling short of analysts' estimates, while its stock has a target price average of $11.94 with a current market cap of $2.13 billion.

Hsbc Holdings PLC reduced its stake in Hawaiian Electric Industries, Inc. (NYSE:HE - Free Report) by 65.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 22,258 shares of the utilities provider's stock after selling 42,218 shares during the period. Hsbc Holdings PLC's holdings in Hawaiian Electric Industries were worth $245,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of the company. Byrne Asset Management LLC lifted its holdings in shares of Hawaiian Electric Industries by 34.0% in the first quarter. Byrne Asset Management LLC now owns 3,887 shares of the utilities provider's stock valued at $43,000 after buying an additional 987 shares during the period. Diversified Trust Co lifted its holdings in shares of Hawaiian Electric Industries by 3.2% in the first quarter. Diversified Trust Co now owns 42,795 shares of the utilities provider's stock valued at $469,000 after buying an additional 1,340 shares during the period. US Bancorp DE lifted its holdings in shares of Hawaiian Electric Industries by 51.2% in the first quarter. US Bancorp DE now owns 4,293 shares of the utilities provider's stock valued at $47,000 after buying an additional 1,453 shares during the period. Xponance Inc. lifted its holdings in shares of Hawaiian Electric Industries by 12.8% in the first quarter. Xponance Inc. now owns 13,464 shares of the utilities provider's stock valued at $147,000 after buying an additional 1,529 shares during the period. Finally, Comerica Bank lifted its holdings in shares of Hawaiian Electric Industries by 69.3% in the fourth 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 during the period. Institutional investors and hedge funds own 59.91% of the company's stock.

Hawaiian Electric Industries Stock Down 0.7%

NYSE:HE traded down $0.09 during trading hours on Friday, hitting $12.29. 1,427,133 shares of the company's stock traded hands, compared to its average volume of 2,257,482. The firm has a market cap of $2.12 billion, a P/E ratio of -12.16 and a beta of 0.69. Hawaiian Electric Industries, Inc. has a twelve month low of $8.14 and a twelve month high of $13.41. The company has a debt-to-equity ratio of 1.52, a quick ratio of 1.07 and a current ratio of 1.07. The stock's fifty day moving average price is $11.29 and its two-hundred day moving average price is $10.82.

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

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on HE. Barclays cut their price objective on Hawaiian Electric Industries from $11.00 to $10.00 and set an "equal weight" rating for the company in a report on Thursday, July 10th. Jefferies Financial Group upped their price objective on Hawaiian Electric Industries from $11.00 to $11.25 and gave the company a "hold" rating in a report on Wednesday, May 28th. Finally, Wall Street Zen upgraded Hawaiian Electric Industries from a "sell" rating to a "hold" rating in a report on Monday, May 12th. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $11.94.

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.