Hsbc Holdings PLC Decreases Stake in Hawaiian Electric Industries, Inc. (HE)

Hsbc Holdings PLC reduced its stake in shares of Hawaiian Electric Industries, Inc. (NYSE:HE) by 40.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,931 shares of the utilities provider’s stock after selling 4,102 shares during the period. Hsbc Holdings PLC’s holdings in Hawaiian Electric Industries were worth $217,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Northern Trust Corp grew its stake in shares of Hawaiian Electric Industries by 1.4% in the 4th quarter. Northern Trust Corp now owns 890,518 shares of the utilities provider’s stock worth $32,610,000 after purchasing an additional 12,493 shares during the last quarter. Citigroup Inc. boosted its holdings in shares of Hawaiian Electric Industries by 105.3% during the fourth quarter. Citigroup Inc. now owns 48,677 shares of the utilities provider’s stock worth $1,782,000 after purchasing an additional 24,972 shares during the period. Martingale Asset Management L P lifted its stake in Hawaiian Electric Industries by 1.7% in the fourth quarter. Martingale Asset Management L P now owns 98,229 shares of the utilities provider’s stock valued at $3,598,000 after acquiring an additional 1,651 shares during the last quarter. Commonwealth Equity Services LLC lifted its stake in Hawaiian Electric Industries by 6.6% in the fourth quarter. Commonwealth Equity Services LLC now owns 27,593 shares of the utilities provider’s stock valued at $1,010,000 after acquiring an additional 1,714 shares during the last quarter. Finally, Raymond James & Associates lifted its stake in Hawaiian Electric Industries by 2.6% in the fourth quarter. Raymond James & Associates now owns 15,729 shares of the utilities provider’s stock valued at $576,000 after acquiring an additional 401 shares during the last quarter. 52.63% of the stock is owned by institutional investors.

Separately, Zacks Investment Research cut shares of Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a research note on Friday, April 5th.

HE stock remained flat at $$41.00 on Wednesday. 373,741 shares of the company were exchanged, compared to its average volume of 349,873. Hawaiian Electric Industries, Inc. has a fifty-two week low of $32.59 and a fifty-two week high of $41.71. The company has a market capitalization of $4.47 billion, a price-to-earnings ratio of 22.16, a P/E/G ratio of 3.40 and a beta of 0.26. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.08 and a quick ratio of 0.08.

Hawaiian Electric Industries (NYSE:HE) last announced its earnings results on Friday, February 15th. The utilities provider reported $0.45 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.47 by ($0.02). Hawaiian Electric Industries had a return on equity of 9.60% and a net margin of 7.12%. The company had revenue of $761.65 million for the quarter, compared to the consensus estimate of $524.89 million. During the same period last year, the firm posted $0.43 EPS. The company’s revenue was up 15.6% compared to the same quarter last year. As a group, equities analysts anticipate that Hawaiian Electric Industries, Inc. will post 1.94 EPS for the current fiscal year.

In other Hawaiian Electric Industries news, Director James K. Scott sold 5,500 shares of the business’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $38.85, for a total value of $213,675.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.94% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: This report was first published by Baseball Daily News and is owned by of Baseball Daily News. If you are accessing this report on another website, it was illegally copied and reposted in violation of international trademark & copyright legislation. The original version of this report can be read at https://www.baseballdailydigest.com/news/2019/04/24/hsbc-holdings-plc-has-217000-holdings-in-hawaiian-electric-industries-inc-he.html.

Hawaiian Electric Industries Profile

Hawaiian Electric Industries, Inc, through its subsidiaries, engages in the electric utility and banking businesses primarily in the state of Hawaii. The company's Electric Utility segment is involved in generating, purchasing, transmitting, distributing, and selling electric energy. Its renewable energy sources and potential sources include wind, solar, photovoltaic, geothermal, wave, hydroelectric, municipal waste, and other bio fuels.

Read More: SEC Filing

Institutional Ownership by Quarter for Hawaiian Electric Industries (NYSE:HE)

Receive News & Ratings for Hawaiian Electric Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hawaiian Electric Industries and related companies with MarketBeat.com's FREE daily email newsletter.