Hawaiian Electric Industries, Inc. (NYSE:HE) Shares Sold by Paces Ferry Wealth Advisors LLC

Paces Ferry Wealth Advisors LLC lessened its holdings in shares of Hawaiian Electric Industries, Inc. (NYSE:HE) by 16.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,236 shares of the utilities provider’s stock after selling 3,861 shares during the period. Paces Ferry Wealth Advisors LLC’s holdings in Hawaiian Electric Industries were worth $187,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Zimmer Partners LP acquired a new position in shares of Hawaiian Electric Industries during the 3rd quarter worth approximately $145,200,000. FMR LLC boosted its stake in Hawaiian Electric Industries by 7,986.3% during the third quarter. FMR LLC now owns 5,340,679 shares of the utilities provider’s stock worth $51,698,000 after buying an additional 5,274,633 shares during the last quarter. Horizon Kinetics Asset Management LLC purchased a new stake in Hawaiian Electric Industries in the 4th quarter valued at $23,153,000. Franklin Resources Inc. increased its stake in shares of Hawaiian Electric Industries by 656.7% in the 3rd quarter. Franklin Resources Inc. now owns 2,722,668 shares of the utilities provider’s stock worth $27,499,000 after acquiring an additional 2,362,863 shares during the last quarter. Finally, Burkehill Global Management LP purchased a new position in shares of Hawaiian Electric Industries during the 4th quarter worth $19,460,000. Institutional investors and hedge funds own 59.91% of the company’s stock.

Hawaiian Electric Industries Trading Down 0.9 %

Shares of HE stock opened at $10.98 on Friday. Hawaiian Electric Industries, Inc. has a 1-year low of $7.61 and a 1-year high of $18.19. The firm has a market cap of $1.89 billion, a PE ratio of -0.93 and a beta of 0.46. The company has a 50-day moving average of $10.11 and a two-hundred day moving average of $10.18. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.18 and a quick ratio of 0.18.

Hawaiian Electric Industries (NYSE:HE) last posted its quarterly earnings data on Friday, February 21st. The utilities provider reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.19). Hawaiian Electric Industries had a positive return on equity of 11.12% and a negative net margin of 35.38%. The company had revenue of $799.18 million for the quarter. On average, analysts predict that Hawaiian Electric Industries, Inc. will post 1.71 EPS for the current year.

Analyst Upgrades and Downgrades

HE has been the subject of a number of analyst reports. Barclays upped their price objective on shares of Hawaiian Electric Industries from $10.00 to $11.00 and gave the company an “equal weight” rating in a report on Tuesday, March 4th. Evercore ISI upgraded shares of Hawaiian Electric Industries from an “in-line” rating to an “outperform” rating and boosted their target price for the company from $12.00 to $14.00 in a report on Friday, March 7th. StockNews.com downgraded shares of Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a report on Tuesday, February 11th. Wells Fargo & Company upped their price objective on Hawaiian Electric Industries from $11.00 to $12.50 and gave the company an “equal weight” rating in a report on Thursday, February 27th. Finally, Jefferies Financial Group lowered their price objective on Hawaiian Electric Industries from $11.50 to $10.50 and set a “hold” rating for the company in a research report on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $12.00.

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.