SG Americas Securities LLC Sells 42,853 Shares of Hawaiian Electric Industries, Inc. $HE

SG Americas Securities LLC reduced its stake in Hawaiian Electric Industries, Inc. (NYSE:HE) by 62.9% during the first quarter, according to its most recent filing with the SEC. The fund owned 25,232 shares of the utilities provider’s stock after selling 42,853 shares during the quarter. SG Americas Securities LLC’s holdings in Hawaiian Electric Industries were worth $374,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Moors & Cabot Inc. grew its position in shares of Hawaiian Electric Industries by 67.8% during the 3rd quarter. Moors & Cabot Inc. now owns 378,732 shares of the utilities provider’s stock valued at $4,181,000 after acquiring an additional 153,070 shares during the period. State of Alaska Department of Revenue increased its stake in shares of Hawaiian Electric Industries by 1,548.0% during the 4th quarter. State of Alaska Department of Revenue now owns 93,573 shares of the utilities provider’s stock worth $1,150,000 after purchasing an additional 87,895 shares during the last quarter. JCP Investment Management LLC bought a new stake in shares of Hawaiian Electric Industries in the 3rd quarter worth approximately $3,974,000. JPMorgan Chase & Co. raised its holdings in shares of Hawaiian Electric Industries by 153.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,243,332 shares of the utilities provider’s stock worth $13,726,000 after purchasing an additional 753,549 shares during the period. Finally, Yousif Capital Management LLC purchased a new position in Hawaiian Electric Industries in the fourth quarter valued at approximately $569,000. 59.91% of the stock is owned by hedge funds and other institutional investors.

Hawaiian Electric Industries Stock Down 1.2%

Shares of NYSE HE opened at $13.38 on Friday. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 1.70. The company has a market cap of $2.31 billion, a P/E ratio of 18.09 and a beta of 0.49. Hawaiian Electric Industries, Inc. has a 52 week low of $10.45 and a 52 week high of $17.38. The business has a 50-day simple moving average of $13.63 and a two-hundred day simple moving average of $14.45.

Hawaiian Electric Industries (NYSE:HE) last announced its quarterly earnings results on Friday, May 8th. The utilities provider reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.09). Hawaiian Electric Industries had a return on equity of 9.03% and a net margin of 4.19%.The firm had revenue of $746.45 million during the quarter, compared to analysts’ expectations of $746.45 million. Research analysts anticipate that Hawaiian Electric Industries, Inc. will post 1.06 earnings per share for the current fiscal year.

Analyst Ratings Changes

HE has been the subject of a number of recent research reports. Zacks Research downgraded Hawaiian Electric Industries from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 6th. Jefferies Financial Group dropped their price target on Hawaiian Electric Industries from $13.75 to $11.75 and set an “underperform” rating on the stock in a research report on Monday. Weiss Ratings downgraded Hawaiian Electric Industries from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday, June 15th. Wall Street Zen lowered Hawaiian Electric Industries from a “buy” rating to a “hold” rating in a report on Saturday, April 11th. Finally, Barclays lowered their price objective on Hawaiian Electric Industries from $14.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Thursday, June 25th. Two research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Hawaiian Electric Industries presently has an average rating of “Reduce” and an average target price of $12.38.

About Hawaiian Electric Industries

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.