M&T Bank Corp Cuts Stock Holdings in Hawaiian Electric Industries, Inc. (NYSE:HE)

M&T Bank Corp trimmed its position in shares of Hawaiian Electric Industries, Inc. (NYSE:HE) by 55.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,351 shares of the utilities provider’s stock after selling 12,686 shares during the quarter. M&T Bank Corp’s holdings in Hawaiian Electric Industries were worth $113,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in HE. Proficio Capital Partners LLC acquired a new position in shares of Hawaiian Electric Industries during the 4th quarter valued at about $142,000. Raymond James Financial Inc. acquired a new position in shares of Hawaiian Electric Industries during the 4th quarter valued at about $342,000. Swiss National Bank boosted its position in shares of Hawaiian Electric Industries by 0.7% during the 4th quarter. Swiss National Bank now owns 323,300 shares of the utilities provider’s stock valued at $3,146,000 after acquiring an additional 2,300 shares during the last quarter. Commonwealth Equity Services LLC boosted its position in shares of Hawaiian Electric Industries by 3.6% during the 4th quarter. Commonwealth Equity Services LLC now owns 31,078 shares of the utilities provider’s stock valued at $302,000 after acquiring an additional 1,080 shares during the last quarter. Finally, Cibc World Markets Corp acquired a new position in shares of Hawaiian Electric Industries during the 4th quarter valued at about $151,000. 59.91% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Barclays decreased their target price on shares of Hawaiian Electric Industries from $11.00 to $10.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 10th. Jefferies Financial Group upped their target price on shares of Hawaiian Electric Industries from $11.00 to $11.25 and gave the stock a “hold” rating in a research note on Wednesday, May 28th. Finally, Wall Street Zen upgraded shares of Hawaiian Electric Industries from a “sell” rating to a “hold” rating in a research note on Monday, May 12th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, Hawaiian Electric Industries has an average rating of “Hold” and an average target price of $11.94.

Hawaiian Electric Industries Price Performance

Shares of NYSE HE opened at $10.74 on Friday. The company has a debt-to-equity ratio of 1.77, a current ratio of 1.25 and a quick ratio of 1.25. The stock has a fifty day moving average price of $10.64 and a 200 day moving average price of $10.30. Hawaiian Electric Industries, Inc. has a 1-year low of $8.14 and a 1-year high of $17.30. The company has a market cap of $1.85 billion, a PE ratio of -0.83 and a beta of 0.64.

Hawaiian Electric Industries (NYSE:HE) last released its 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 positive return on equity of 12.59% and a negative net margin of 42.60%. The company had revenue of $744.07 million during the quarter. During the same period last year, the business posted $0.38 EPS. Sell-side analysts forecast that Hawaiian Electric Industries, Inc. will post 1.71 EPS for the current year.

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.