Northern Trust Corp Sells 13,956 Shares of Hawaiian Electric Industries, Inc. $HE

Northern Trust Corp lessened its stake in Hawaiian Electric Industries, Inc. (NYSE:HE) by 0.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,516,462 shares of the utilities provider’s stock after selling 13,956 shares during the period. Northern Trust Corp owned about 0.88% of Hawaiian Electric Industries worth $16,605,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of HE. Janney Montgomery Scott LLC lifted its position in Hawaiian Electric Industries by 269.7% in the first quarter. Janney Montgomery Scott LLC now owns 67,720 shares of the utilities provider’s stock valued at $742,000 after purchasing an additional 49,400 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its stake in shares of Hawaiian Electric Industries by 123.9% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 88,172 shares of the utilities provider’s stock worth $965,000 after buying an additional 48,792 shares during the period. Rhumbline Advisers raised its holdings in Hawaiian Electric Industries by 1.1% during the 1st quarter. Rhumbline Advisers now owns 257,191 shares of the utilities provider’s stock valued at $2,816,000 after buying an additional 2,877 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in Hawaiian Electric Industries by 41.9% during the 4th quarter. The Manufacturers Life Insurance Company now owns 82,070 shares of the utilities provider’s stock valued at $799,000 after buying an additional 24,247 shares during the period. Finally, Arizona State Retirement System grew its holdings in Hawaiian Electric Industries by 3.7% in the 1st quarter. Arizona State Retirement System now owns 49,470 shares of the utilities provider’s stock worth $542,000 after acquiring an additional 1,771 shares during the last quarter. 59.91% of the stock is currently owned by institutional investors.

Hawaiian Electric Industries Trading Down 5.4%

NYSE:HE opened at $12.26 on Wednesday. The company has a 50 day simple moving average of $11.18 and a two-hundred day simple moving average of $10.78. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 1.52. Hawaiian Electric Industries, Inc. has a 12 month low of $8.14 and a 12 month high of $13.41. The company has a market cap of $2.12 billion, a PE ratio of -12.13 and a beta of 0.69.

Hawaiian Electric Industries (NYSE:HE) last announced its quarterly earnings data on Thursday, August 7th. The utilities provider reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.04). The company had revenue of $746.39 million for the quarter. Hawaiian Electric Industries had a negative net margin of 3.66% and a positive return on equity of 10.76%. Research analysts forecast that Hawaiian Electric Industries, Inc. will post 1.71 earnings per share for the current year.

Wall Street Analysts Forecast Growth

HE has been the subject of several recent analyst reports. Barclays lowered their price objective on shares of Hawaiian Electric Industries from $11.00 to $10.00 and set an “equal weight” rating for the company in a research note on Thursday, July 10th. Wall Street Zen upgraded Hawaiian Electric Industries from a “sell” rating to a “hold” rating in a report on Monday, May 12th. Finally, Jefferies Financial Group lifted their price target on shares of Hawaiian Electric Industries from $11.00 to $11.25 and gave the company a “hold” rating in a report on Wednesday, May 28th. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, Hawaiian Electric Industries currently has an average rating of “Hold” and a consensus price target of $11.94.

Hawaiian Electric Industries 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.