Mackenzie Financial Corp Trims Stock Position in Hawaiian Electric Industries, Inc. (NYSE:HE)

Mackenzie Financial Corp trimmed its stake in Hawaiian Electric Industries, Inc. (NYSE:HE - Free Report) by 91.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,039 shares of the utilities provider's stock after selling 118,654 shares during the period. Mackenzie Financial Corp's holdings in Hawaiian Electric Industries were worth $107,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. PharVision Advisers LLC bought a new stake in Hawaiian Electric Industries during the 4th quarter valued at approximately $266,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Hawaiian Electric Industries by 32.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 359,045 shares of the utilities provider's stock valued at $3,494,000 after purchasing an additional 88,686 shares in the last quarter. Voloridge Investment Management LLC grew its stake in Hawaiian Electric Industries by 22.6% in the fourth quarter. Voloridge Investment Management LLC now owns 2,398,817 shares of the utilities provider's stock worth $23,340,000 after purchasing an additional 442,504 shares during the period. Zimmer Partners LP raised its holdings in Hawaiian Electric Industries by 1.4% in the fourth quarter. Zimmer Partners LP now owns 15,202,552 shares of the utilities provider's stock worth $147,921,000 after purchasing an additional 202,552 shares in the last quarter. Finally, Two Sigma Advisers LP lifted its position in Hawaiian Electric Industries by 31.5% during the fourth quarter. Two Sigma Advisers LP now owns 963,700 shares of the utilities provider's stock valued at $9,377,000 after buying an additional 230,900 shares during the period. 59.91% of the stock is owned by hedge funds and other institutional investors.

Hawaiian Electric Industries Stock Up 2.4%

NYSE:HE opened at $10.45 on Friday. 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 firm has a market cap of $1.80 billion, a P/E ratio of -0.88 and a beta of 0.64. Hawaiian Electric Industries, Inc. has a fifty-two week low of $7.61 and a fifty-two week high of $18.19. The firm has a 50-day simple moving average of $10.37 and a two-hundred day simple moving average of $10.21.

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

Analyst Ratings Changes

A number of analysts have recently weighed in on HE shares. Wells Fargo & Company upped their target price on shares of Hawaiian Electric Industries from $11.00 to $12.50 and gave the stock an "equal weight" rating in a research report on Thursday, February 27th. Barclays upped their price objective on shares of Hawaiian Electric Industries from $10.00 to $11.00 and gave the stock an "equal weight" rating in a report on Tuesday, March 4th. Jefferies Financial Group lifted their target price on shares of Hawaiian Electric Industries from $11.00 to $11.25 and gave the company a "hold" rating in a report on Wednesday, May 28th. Wall Street Zen raised Hawaiian Electric Industries from a "sell" rating to a "hold" rating in a research report on Monday, May 12th. Finally, Evercore ISI raised Hawaiian Electric Industries from an "in-line" rating to an "outperform" rating and raised their price objective for the company from $12.00 to $14.00 in a research report on Friday, March 7th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $12.19.

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.

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