UBS Group AG Sells 1,347,050 Shares of Hawaiian Electric Industries, Inc. $HE

UBS Group AG trimmed its holdings in Hawaiian Electric Industries, Inc. (NYSE:HE - Free Report) by 30.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,035,752 shares of the utilities provider's stock after selling 1,347,050 shares during the quarter. UBS Group AG owned about 1.76% of Hawaiian Electric Industries worth $37,340,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in HE. Northwestern Mutual Wealth Management Co. grew its stake in Hawaiian Electric Industries by 142.2% during the third 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 period. Larson Financial Group LLC lifted its stake in Hawaiian Electric Industries by 242.2% in the third quarter. Larson Financial Group LLC now owns 2,741 shares of the utilities provider's stock valued at $30,000 after buying an additional 1,940 shares during the period. CWM LLC lifted its stake in Hawaiian Electric Industries by 41.3% in the fourth quarter. CWM LLC now owns 3,210 shares of the utilities provider's stock valued at $39,000 after buying an additional 939 shares during the period. Farther Finance Advisors LLC boosted its holdings in shares of 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 in the last quarter. Finally, Aster Capital Management DIFC Ltd acquired a new stake in shares of Hawaiian Electric Industries during the 3rd quarter worth approximately $55,000. Institutional investors own 59.91% of the company's stock.

Hawaiian Electric Industries Trading Up 0.9%

NYSE HE opened at $15.42 on Friday. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 1.74. Hawaiian Electric Industries, Inc. has a 52 week low of $10.14 and a 52 week high of $17.38. The business has a 50 day moving average price of $15.18 and a 200-day moving average price of $13.88. The company has a market cap of $2.66 billion, a price-to-earnings ratio of 21.72 and a beta of 0.54.

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

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on HE. Jefferies Financial Group lowered shares of Hawaiian Electric Industries from a "hold" rating to an "underperform" rating and lowered their price objective for the company from $13.50 to $12.50 in a research note on Tuesday, January 20th. Wall Street Zen lowered shares of Hawaiian Electric Industries from a "buy" rating to a "hold" rating in a research note on Saturday, April 11th. Barclays lifted their price target on shares of 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. Weiss Ratings upgraded shares of Hawaiian Electric Industries from a "sell (d+)" rating to a "hold (c-)" rating in a report on Monday, March 2nd. Finally, Zacks Research cut shares of Hawaiian Electric Industries from a "strong-buy" rating to a "hold" rating in a research report on Wednesday. Three analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Reduce" and a consensus target price of $13.25.

About Hawaiian Electric Industries

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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