Federated Hermes Inc. Decreases Holdings in Hawaiian Electric Industries, Inc. (NYSE:HE)

Federated Hermes Inc. lessened its holdings in shares of Hawaiian Electric Industries, Inc. (NYSE:HE - Free Report) by 87.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 71,981 shares of the utilities provider's stock after selling 524,034 shares during the period. Federated Hermes Inc.'s holdings in Hawaiian Electric Industries were worth $700,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Horizon Kinetics Asset Management LLC bought a new stake in Hawaiian Electric Industries during the 4th quarter valued at approximately $23,153,000. Franklin Resources Inc. boosted its position in shares of Hawaiian Electric Industries by 656.7% during the third quarter. Franklin Resources Inc. now owns 2,722,668 shares of the utilities provider's stock valued at $27,499,000 after purchasing an additional 2,362,863 shares in the last quarter. Burkehill Global Management LP purchased a new stake in Hawaiian Electric Industries in the fourth quarter worth $19,460,000. Geode Capital Management LLC raised its holdings in Hawaiian Electric Industries by 49.3% in the third quarter. Geode Capital Management LLC now owns 3,793,142 shares of the utilities provider's stock worth $36,725,000 after purchasing an additional 1,253,143 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in Hawaiian Electric Industries by 6.5% during the fourth quarter. Vanguard Group Inc. now owns 18,231,969 shares of the utilities provider's stock valued at $177,397,000 after buying an additional 1,112,150 shares during the period. 59.91% of the stock is owned by hedge funds and other institutional investors.

Hawaiian Electric Industries Stock Up 1.9 %

HE stock traded up $0.19 during midday trading on Tuesday, hitting $10.44. The company's stock had a trading volume of 1,215,653 shares, compared to its average volume of 3,494,234. The firm's 50-day moving average is $10.60 and its 200-day moving average is $10.11. The company has a current ratio of 0.18, a quick ratio of 0.18 and a debt-to-equity ratio of 1.80. Hawaiian Electric Industries, Inc. has a 12 month low of $7.61 and a 12 month high of $18.19. The company has a market cap of $1.80 billion, a PE ratio of -0.88 and a beta of 0.51.

Hawaiian Electric Industries (NYSE:HE - Get Free Report) last announced its quarterly earnings results on Friday, February 21st. The utilities provider reported $0.20 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.39 by ($0.19). Hawaiian Electric Industries had a negative net margin of 35.38% and a positive return on equity of 11.12%. The business had revenue of $799.18 million for the quarter. On average, equities research analysts forecast that Hawaiian Electric Industries, Inc. will post 1.71 earnings per share for the current fiscal year.

Analysts Set New Price Targets

HE has been the subject of a number of recent research reports. Wells Fargo & Company lifted 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 research report on Thursday, February 27th. Jefferies Financial Group dropped their price target on Hawaiian Electric Industries from $11.50 to $10.50 and set a "hold" rating on the stock in a research report on Friday, January 3rd. StockNews.com lowered Hawaiian Electric Industries from a "hold" rating to a "sell" rating in a research report on Tuesday, February 11th. Evercore ISI raised Hawaiian Electric Industries from an "in-line" rating to an "outperform" rating and boosted their target price for the stock from $12.00 to $14.00 in a report on Friday, March 7th. Finally, Barclays raised their price target on Hawaiian Electric Industries from $10.00 to $11.00 and gave the company an "equal weight" rating in a report on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Hawaiian Electric Industries presently has a consensus rating of "Hold" and a consensus price target of $12.00.

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.