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

Deltec Asset Management LLC cut its stake in shares of Hawaiian Electric Industries, Inc. (NYSE:HE) by 26.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 36,886 shares of the utilities provider’s stock after selling 13,114 shares during the period. Deltec Asset Management LLC’s holdings in Hawaiian Electric Industries were worth $359,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in HE. Blue Trust Inc. boosted its holdings in Hawaiian Electric Industries by 203.0% in the fourth quarter. Blue Trust Inc. now owns 3,078 shares of the utilities provider’s stock valued at $30,000 after acquiring an additional 2,062 shares during the last quarter. R Squared Ltd purchased a new position in shares of Hawaiian Electric Industries in the 4th quarter worth about $36,000. KBC Group NV raised its holdings in shares of Hawaiian Electric Industries by 34.8% in the 3rd quarter. KBC Group NV now owns 3,956 shares of the utilities provider’s stock worth $38,000 after purchasing an additional 1,021 shares during the period. UMB Bank n.a. acquired a new position in shares of Hawaiian Electric Industries in the 3rd quarter valued at about $42,000. Finally, Quarry LP grew its holdings in shares of Hawaiian Electric Industries by 156.6% during the 3rd quarter. Quarry LP now owns 4,503 shares of the utilities provider’s stock worth $44,000 after purchasing an additional 2,748 shares during the period. 59.91% of the stock is owned by hedge funds and other institutional investors.

Hawaiian Electric Industries Stock Performance

Shares of NYSE:HE opened at $9.50 on Wednesday. The company has a market cap of $1.64 billion, a P/E ratio of -0.80 and a beta of 0.53. Hawaiian Electric Industries, Inc. has a one year low of $7.61 and a one year high of $18.19. The business’s 50-day simple moving average is $9.60 and its 200 day simple moving average is $10.92. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.18 and a current ratio of 0.18.

Hawaiian Electric Industries (NYSE:HE) last posted its quarterly earnings data on Friday, November 8th. The utilities provider reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.07). The firm had revenue of $983.38 million for the quarter. Hawaiian Electric Industries had a negative net margin of 35.38% and a positive return on equity of 11.12%. The firm’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.37 EPS. On average, sell-side analysts forecast that Hawaiian Electric Industries, Inc. will post 1.71 earnings per share for the current fiscal year.

Analysts Set New Price Targets

HE has been the topic of several research reports. Evercore ISI cut their price target on shares of Hawaiian Electric Industries from $11.00 to $10.00 and set an “in-line” rating on the stock in a report on Tuesday, November 19th. Jefferies Financial Group cut their target price on shares of Hawaiian Electric Industries from $11.50 to $10.50 and set a “hold” rating on the stock in a research note on Friday, January 3rd. Finally, StockNews.com lowered shares of Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a report on Wednesday, January 29th.

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.