The Manufacturers Life Insurance Company Has $560,000 Stock Position in Hawaiian Electric Industries, Inc. (NYSE:HE)

The Manufacturers Life Insurance Company lowered its stake in Hawaiian Electric Industries, Inc. (NYSE:HE) by 3.0% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 57,823 shares of the utilities provider’s stock after selling 1,817 shares during the period. The Manufacturers Life Insurance Company’s holdings in Hawaiian Electric Industries were worth $560,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. KBC Group NV raised its holdings in shares of Hawaiian Electric Industries by 34.8% during the third quarter. KBC Group NV now owns 3,956 shares of the utilities provider’s stock worth $38,000 after acquiring an additional 1,021 shares during the period. UMB Bank n.a. acquired a new position in Hawaiian Electric Industries in the 3rd quarter worth $42,000. Signaturefd LLC increased its holdings in Hawaiian Electric Industries by 30.8% during the 2nd quarter. Signaturefd LLC now owns 8,437 shares of the utilities provider’s stock worth $76,000 after purchasing an additional 1,986 shares in the last quarter. Quest Partners LLC raised its stake in shares of Hawaiian Electric Industries by 126.1% in the 3rd quarter. Quest Partners LLC now owns 7,983 shares of the utilities provider’s stock valued at $77,000 after purchasing an additional 4,453 shares during the period. Finally, Evergreen Capital Management LLC bought a new stake in shares of Hawaiian Electric Industries in the second quarter valued at about $91,000. Institutional investors and hedge funds own 59.91% of the company’s stock.

Hawaiian Electric Industries Stock Performance

Shares of NYSE HE opened at $10.20 on Friday. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.18 and a current ratio of 0.18. The stock has a 50 day moving average price of $10.22 and a 200 day moving average price of $11.11. The stock has a market capitalization of $1.76 billion, a PE ratio of -0.86 and a beta of 0.53. Hawaiian Electric Industries, Inc. has a 52 week low of $7.61 and a 52 week high of $18.19.

Hawaiian Electric Industries (NYSE:HE) last released its quarterly earnings data on Friday, November 8th. The utilities provider reported $0.46 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.07). The company had revenue of $983.38 million during the quarter. Hawaiian Electric Industries had a negative net margin of 35.38% and a positive return on equity of 11.12%. The company’s revenue was up 9.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.37 earnings per share. Analysts predict that Hawaiian Electric Industries, Inc. will post 1.71 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently issued reports on HE. StockNews.com downgraded Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a report on Friday, October 4th. Evercore ISI reduced their price target on Hawaiian Electric Industries from $11.00 to $10.00 and set an “in-line” rating for the company in a research report on Tuesday, November 19th. Jefferies Financial Group initiated coverage on shares of Hawaiian Electric Industries in a research note on Tuesday, December 3rd. They set a “hold” rating and a $11.50 price target for the company. Finally, Wells Fargo & Company cut their price objective on shares of Hawaiian Electric Industries from $14.00 to $11.50 and set an “equal weight” rating on the stock in a research report on Monday, September 30th.

Hawaiian Electric Industries Company 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.