Hsbc Holdings PLC Sells 42,218 Shares of 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 decreased 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 Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,258 shares of the utilities provider's stock after selling 42,218 shares during the quarter. Hsbc Holdings PLC's holdings in Hawaiian Electric Industries were worth $245,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of HE. Allworth Financial LP increased its position in Hawaiian Electric Industries by 379.3% in the first quarter. Allworth Financial LP now owns 2,574 shares of the utilities provider's stock worth $27,000 after buying an additional 2,037 shares in the last quarter. Farther Finance Advisors LLC increased its position in Hawaiian Electric Industries by 3,797.8% in the first quarter. Farther Finance Advisors LLC now owns 3,469 shares of the utilities provider's stock worth $38,000 after buying an additional 3,380 shares in the last quarter. Comerica Bank increased its position in Hawaiian Electric Industries by 69.3% in the fourth quarter. Comerica Bank now owns 4,189 shares of the utilities provider's stock worth $41,000 after buying an additional 1,715 shares in the last quarter. Byrne Asset Management LLC increased its position in 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 worth $43,000 after buying an additional 987 shares in the last quarter. Finally, US Bancorp DE increased its position in Hawaiian Electric Industries by 51.2% in the first quarter. US Bancorp DE now owns 4,293 shares of the utilities provider's stock worth $47,000 after buying an additional 1,453 shares in the last quarter. Hedge funds and other institutional investors own 59.91% of the company's stock.

Analyst Ratings Changes

A number of analysts have commented on the company. Jefferies Financial Group upped their price target on Hawaiian Electric Industries from $11.00 to $11.25 and gave the stock a "hold" rating in a research report on Wednesday, May 28th. Barclays reduced their price target on Hawaiian Electric Industries from $11.00 to $10.00 and set an "equal weight" rating for the company in a research report on Thursday, July 10th. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Hawaiian Electric Industries has a consensus rating of "Hold" and a consensus target price of $11.94.

Hawaiian Electric Industries Price Performance

Shares of NYSE HE traded up $0.18 during mid-day trading on Wednesday, reaching $12.03. The company's stock had a trading volume of 1,827,841 shares, compared to its average volume of 2,140,736. The firm has a market capitalization of $2.08 billion, a PE ratio of -11.91 and a beta of 0.69. The company has a debt-to-equity ratio of 1.52, a current ratio of 1.07 and a quick ratio of 1.07. The stock has a fifty day moving average of $11.35 and a two-hundred day moving average of $10.84. Hawaiian Electric Industries, Inc. has a 52 week low of $8.14 and a 52 week high of $13.41.

Hawaiian Electric Industries (NYSE:HE - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The utilities provider reported $0.20 earnings per share for the quarter, missing analysts' consensus estimates of $0.24 by ($0.04). The business had revenue of $746.39 million during the quarter. Hawaiian Electric Industries had a positive return on equity of 10.76% and a negative net margin of 3.66%. As a group, sell-side analysts anticipate that Hawaiian Electric Industries, Inc. will post 1.71 EPS 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.