Raymond James & Associates Has $259,000 Stock Holdings in Hawaiian Electric Industries, Inc. (NYSE:HE)

Raymond James & Associates trimmed its stake in shares of Hawaiian Electric Industries, Inc. (NYSE:HE) by 31.7% during the fourth quarter, Holdings Channel reports. The firm owned 18,245 shares of the utilities provider’s stock after selling 8,484 shares during the period. Raymond James & Associates’ holdings in Hawaiian Electric Industries were worth $259,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. UMB Bank n.a. acquired a new position in Hawaiian Electric Industries during the 3rd quarter worth $27,000. CWM LLC boosted its holdings in Hawaiian Electric Industries by 49.9% in the third quarter. CWM LLC now owns 7,470 shares of the utilities provider’s stock valued at $92,000 after acquiring an additional 2,488 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its position in Hawaiian Electric Industries by 38.8% in the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 9,386 shares of the utilities provider’s stock worth $116,000 after purchasing an additional 2,625 shares during the period. Cowen AND Company LLC bought a new stake in Hawaiian Electric Industries during the 3rd quarter worth about $123,000. Finally, Vanguard Personalized Indexing Management LLC lifted its position in Hawaiian Electric Industries by 21.7% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 11,269 shares of the utilities provider’s stock valued at $139,000 after purchasing an additional 2,010 shares during the period. Institutional investors own 59.91% of the company’s stock.

Hawaiian Electric Industries Stock Performance

Shares of NYSE:HE opened at $10.03 on Tuesday. The firm’s 50 day simple moving average is $11.25 and its 200 day simple moving average is $12.60. Hawaiian Electric Industries, Inc. has a fifty-two week low of $8.74 and a fifty-two week high of $40.16. The company has a market capitalization of $1.11 billion, a price-to-earnings ratio of 5.54 and a beta of 0.53. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.13 and a quick ratio of 0.13.

Hawaiian Electric Industries (NYSE:HE) last announced its quarterly earnings results on Tuesday, February 13th. The utilities provider reported $0.48 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.48. Hawaiian Electric Industries had a net margin of 5.45% and a return on equity of 9.99%. The company had revenue of $961.40 million for the quarter. During the same period in the prior year, the business earned $0.52 earnings per share. The company’s revenue for the quarter was down 5.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Hawaiian Electric Industries, Inc. will post 1.98 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on HE. StockNews.com upgraded shares of Hawaiian Electric Industries from a “sell” rating to a “hold” rating in a research report on Monday, April 15th. Evercore ISI upped their target price on shares of Hawaiian Electric Industries from $7.00 to $11.00 and gave the company an “in-line” rating in a research report on Thursday, February 15th. Two research analysts have rated the stock with a sell rating and two have given a hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $11.50.

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.