Hawaiian Electric Industries, Inc. (NYSE:HE) Shares Sold by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership reduced its stake in shares of Hawaiian Electric Industries, Inc. (NYSE:HE - Free Report) by 79.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,414 shares of the utilities provider's stock after selling 95,107 shares during the period. Arrowstreet Capital Limited Partnership's holdings in Hawaiian Electric Industries were worth $238,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of HE. Blue Trust Inc. increased its stake in Hawaiian Electric Industries by 203.0% during the fourth quarter. Blue Trust Inc. now owns 3,078 shares of the utilities provider's stock worth $30,000 after acquiring an additional 2,062 shares during the last quarter. R Squared Ltd acquired a new stake in Hawaiian Electric Industries during the 4th quarter worth approximately $36,000. Jones Financial Companies Lllp raised its holdings in Hawaiian Electric Industries by 63.9% in the fourth quarter. Jones Financial Companies Lllp now owns 4,844 shares of the utilities provider's stock valued at $47,000 after buying an additional 1,889 shares during the period. Amalgamated Bank lifted its position in Hawaiian Electric Industries by 50.9% during the fourth quarter. Amalgamated Bank now owns 5,650 shares of the utilities provider's stock valued at $55,000 after buying an additional 1,905 shares in the last quarter. Finally, Westside Investment Management Inc. lifted its position in Hawaiian Electric Industries by 422.4% during the fourth quarter. Westside Investment Management Inc. now owns 7,915 shares of the utilities provider's stock valued at $77,000 after buying an additional 6,400 shares in the last quarter. 59.91% of the stock is owned by institutional investors and hedge funds.

Hawaiian Electric Industries Stock Performance

Shares of NYSE:HE traded up $0.09 during trading on Friday, hitting $10.44. 1,821,871 shares of the company traded hands, compared to its average volume of 3,506,620. The company has a quick ratio of 0.18, a current ratio of 0.18 and a debt-to-equity ratio of 1.80. The business's fifty day moving average is $10.61 and its 200-day moving average is $10.10. The stock has a market capitalization of $1.80 billion, a price-to-earnings ratio of -0.88 and a beta of 0.51. Hawaiian Electric Industries, Inc. has a one year low of $7.61 and a one year high of $18.19.

Hawaiian Electric Industries (NYSE:HE - Get Free Report) last issued its quarterly earnings data on Friday, February 21st. The utilities provider reported $0.20 EPS for the quarter, missing analysts' consensus estimates of $0.39 by ($0.19). Hawaiian Electric Industries had a positive return on equity of 11.12% and a negative net margin of 35.38%. The company had revenue of $799.18 million for the quarter. As a group, equities 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 brokerages have recently commented on HE. Barclays raised their target price on shares of Hawaiian Electric Industries from $10.00 to $11.00 and gave the company an "equal weight" rating in a research note on Tuesday, March 4th. Evercore ISI upgraded Hawaiian Electric Industries from an "in-line" rating to an "outperform" rating and raised their target price for the company from $12.00 to $14.00 in a report on Friday, March 7th. StockNews.com cut Hawaiian Electric Industries from a "hold" rating to a "sell" rating in a report on Tuesday, February 11th. Jefferies Financial Group lowered their price objective on shares of Hawaiian Electric Industries from $11.50 to $10.50 and set a "hold" rating for the company in a research report on Friday, January 3rd. Finally, Wells Fargo & Company raised their price target on shares of Hawaiian Electric Industries from $11.00 to $12.50 and gave the company an "equal weight" rating in a report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $12.00.

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.