CANADA LIFE ASSURANCE Co Cuts Stake in Hawaiian Electric Industries, Inc. (NYSE:HE)

CANADA LIFE ASSURANCE Co cut its stake in shares of Hawaiian Electric Industries, Inc. (NYSE:HE) by 75.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,349 shares of the utilities provider’s stock after selling 10,406 shares during the quarter. CANADA LIFE ASSURANCE Co’s holdings in Hawaiian Electric Industries were worth $32,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in HE. Barclays PLC grew its holdings in shares of Hawaiian Electric Industries by 48.5% during the third quarter. Barclays PLC now owns 255,618 shares of the utilities provider’s stock valued at $2,475,000 after buying an additional 83,496 shares during the last quarter. Virtu Financial LLC acquired a new position in Hawaiian Electric Industries during the third quarter valued at $821,000. Peapack Gladstone Financial Corp acquired a new position in Hawaiian Electric Industries during the third quarter valued at $184,000. Franklin Resources Inc. lifted its position in Hawaiian Electric Industries by 656.7% during the third quarter. Franklin Resources Inc. now owns 2,722,668 shares of the utilities provider’s stock valued at $27,499,000 after purchasing an additional 2,362,863 shares during the period. Finally, Diversified Trust Co lifted its position in Hawaiian Electric Industries by 2.9% during the fourth quarter. Diversified Trust Co now owns 41,455 shares of the utilities provider’s stock valued at $403,000 after purchasing an additional 1,184 shares during the period. 59.91% of the stock is owned by hedge funds and other institutional investors.

Hawaiian Electric Industries Price Performance

Hawaiian Electric Industries stock opened at $10.50 on Thursday. The stock has a market capitalization of $1.81 billion, a PE ratio of -0.89 and a beta of 0.51. Hawaiian Electric Industries, Inc. has a 12 month low of $7.61 and a 12 month high of $18.19. The business has a 50 day simple moving average of $10.57 and a 200-day simple moving average of $10.13. 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 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.19). The business had revenue of $799.18 million during the quarter. Hawaiian Electric Industries had a negative net margin of 35.38% and a positive return on equity of 11.12%. On average, analysts anticipate that Hawaiian Electric Industries, Inc. will post 1.71 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.