Citigroup Inc. Decreases Position in Hawaiian Electric Industries, Inc. $HE

Citigroup Inc. trimmed its position in Hawaiian Electric Industries, Inc. (NYSE:HE) by 47.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 169,719 shares of the utilities provider’s stock after selling 151,487 shares during the period. Citigroup Inc. owned about 0.10% of Hawaiian Electric Industries worth $1,874,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. SJS Investment Consulting Inc. purchased a new position in shares of Hawaiian Electric Industries in the third quarter valued at approximately $46,000. Farther Finance Advisors LLC increased its position in shares of Hawaiian Electric Industries by 37.5% during the third quarter. Farther Finance Advisors LLC now owns 4,125 shares of the utilities provider’s stock worth $46,000 after purchasing an additional 1,125 shares in the last quarter. Allworth Financial LP raised its stake in Hawaiian Electric Industries by 78.9% in the 2nd quarter. Allworth Financial LP now owns 4,605 shares of the utilities provider’s stock valued at $49,000 after purchasing an additional 2,031 shares during the last quarter. State of Alaska Department of Revenue acquired a new position in Hawaiian Electric Industries in the 3rd quarter valued at $62,000. Finally, Westfuller Advisors LLC purchased a new position in Hawaiian Electric Industries in the 3rd quarter valued at $66,000. 59.91% of the stock is currently owned by hedge funds and other institutional investors.

Hawaiian Electric Industries Stock Down 4.1%

Shares of NYSE HE opened at $14.92 on Monday. The company has a market capitalization of $2.58 billion, a P/E ratio of 21.01 and a beta of 0.62. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.32 and a quick ratio of 1.32. The company has a 50 day simple moving average of $15.08 and a 200-day simple moving average of $12.89. Hawaiian Electric Industries, Inc. has a 1 year low of $9.06 and a 1 year high of $17.38.

Hawaiian Electric Industries (NYSE:HE) last released its quarterly earnings data on Friday, February 27th. The utilities provider reported $0.24 EPS for the quarter, meeting analysts’ consensus estimates of $0.24. The firm had revenue of $805.82 million for the quarter. Hawaiian Electric Industries had a return on equity of 9.82% and a net margin of 4.09%. On average, equities research analysts predict that Hawaiian Electric Industries, Inc. will post 1.71 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on HE shares. Jefferies Financial Group lowered shares of Hawaiian Electric Industries from a “hold” rating to an “underperform” rating and dropped their target price for the stock from $13.50 to $12.50 in a report on Tuesday, January 20th. Weiss Ratings upgraded shares of Hawaiian Electric Industries from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, March 2nd. Wall Street Zen raised shares of Hawaiian Electric Industries from a “hold” rating to a “buy” rating in a research note on Saturday. Zacks Research upgraded shares of Hawaiian Electric Industries to a “hold” rating in a report on Monday, February 9th. Finally, Barclays raised their target price on shares of Hawaiian Electric Industries from $13.00 to $14.00 and gave the stock an “equal weight” rating in a research note on Monday, March 2nd. Three investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average target price of $13.25.

Hawaiian Electric Industries Profile

Hawaiian Electric Industries, Inc is a diversified holding company operating in the energy and financial services sectors in the state of Hawaii. Its principal subsidiary, Hawaiian Electric Company, provides generation, transmission, distribution and customer service to the island of Oahu, while its Maui Electric and Hawaii Electric Light Company subsidiaries serve Maui, Molokai, Lanai and Hawaii Island. The roots of the electric utility business trace back to 1891 when service first commenced in Honolulu.

Through its subsidiary Hawaii Gas, HEI extends its energy portfolio to include the distribution of natural gas and propane, supporting residential, commercial and industrial customers across the islands.