Evanson Asset Management LLC Lowers Stock Holdings in Hawaiian Electric Industries, Inc. (NYSE:HE)

Evanson Asset Management LLC lessened its stake in Hawaiian Electric Industries, Inc. (NYSE:HE) by 4.1% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 23,445 shares of the utilities provider’s stock after selling 1,000 shares during the quarter. Evanson Asset Management LLC’s holdings in Hawaiian Electric Industries were worth $333,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Lazard Asset Management LLC acquired a new position in shares of Hawaiian Electric Industries during the 2nd quarter worth about $34,000. MUFG Americas Holdings Corp acquired a new position in shares of Hawaiian Electric Industries in the 3rd quarter valued at $39,000. UMB Bank n.a. purchased a new position in shares of Hawaiian Electric Industries in the 3rd quarter valued at $27,000. Newbridge Financial Services Group Inc. acquired a new stake in Hawaiian Electric Industries during the 3rd quarter worth $35,000. Finally, Perkins Coie Trust Co purchased a new stake in Hawaiian Electric Industries in the third quarter valued at $36,000. 59.91% of the stock is owned by institutional investors and hedge funds.

Hawaiian Electric Industries Stock Performance

Shares of Hawaiian Electric Industries stock traded up $0.28 during trading on Thursday, reaching $11.27. The company’s stock had a trading volume of 2,097,370 shares, compared to its average volume of 2,322,334. Hawaiian Electric Industries, Inc. has a fifty-two week low of $9.06 and a fifty-two week high of $40.16. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 1.21. The firm has a market cap of $1.24 billion, a PE ratio of 6.23, a P/E/G ratio of 0.95 and a beta of 0.54. The company has a 50-day moving average price of $12.39 and a two-hundred day moving average price of $12.89.

Hawaiian Electric Industries (NYSE:HE) last announced its earnings results on Tuesday, February 13th. The utilities provider reported $0.48 earnings per share for the quarter, hitting the consensus estimate of $0.48. The business had revenue of $961.40 million during the quarter. Hawaiian Electric Industries had a net margin of 5.45% and a return on equity of 9.99%. Hawaiian Electric Industries’s quarterly revenue was down 5.7% on a year-over-year basis. During the same quarter last year, the company posted $0.52 EPS. On average, analysts forecast that Hawaiian Electric Industries, Inc. will post 1.98 EPS for the current year.

Analyst Ratings Changes

Separately, Evercore ISI raised their price objective on Hawaiian Electric Industries from $7.00 to $11.00 and gave the stock an “in-line” rating in a report on Thursday, February 15th. Three research analysts have rated the stock with a sell rating and one has assigned a hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and an average price target of $11.50.

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.