Cresset Asset Management LLC Sells 39,058 Shares of Hawaiian Electric Industries, Inc. (NYSE:HE)

Cresset Asset Management LLC reduced its stake in shares of Hawaiian Electric Industries, Inc. (NYSE:HE) by 74.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,192 shares of the utilities provider’s stock after selling 39,058 shares during the quarter. Cresset Asset Management LLC’s holdings in Hawaiian Electric Industries were worth $128,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Blue Trust Inc. grew its stake in shares of Hawaiian Electric Industries by 203.0% during the fourth quarter. Blue Trust Inc. now owns 3,078 shares of the utilities provider’s stock valued at $30,000 after buying an additional 2,062 shares during the last quarter. R Squared Ltd bought a new position in shares of Hawaiian Electric Industries during the fourth quarter valued at about $36,000. Comerica Bank grew its stake in shares of Hawaiian Electric Industries by 69.3% during the fourth quarter. Comerica Bank now owns 4,189 shares of the utilities provider’s stock valued at $41,000 after buying an additional 1,715 shares during the last quarter. Jones Financial Companies Lllp grew its stake in shares of Hawaiian Electric Industries by 63.9% during the fourth quarter. Jones Financial Companies Lllp now owns 4,844 shares of the utilities provider’s stock valued at $47,000 after buying an additional 1,889 shares during the last quarter. Finally, Sterling Capital Management LLC grew its stake in shares of Hawaiian Electric Industries by 816.0% during the fourth quarter. Sterling Capital Management LLC now owns 5,221 shares of the utilities provider’s stock valued at $51,000 after buying an additional 4,651 shares during the last quarter. 59.91% of the stock is owned by institutional investors.

Hawaiian Electric Industries Stock Up 0.1%

NYSE HE opened at $10.61 on Monday. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.18 and a quick ratio of 0.18. The stock has a market capitalization of $1.83 billion, a PE ratio of -0.90 and a beta of 0.64. Hawaiian Electric Industries, Inc. has a 1 year low of $7.61 and a 1 year high of $18.19. The business’s 50-day moving average is $10.48 and its 200 day moving average is $10.17.

Hawaiian Electric Industries (NYSE:HE) last posted its quarterly earnings data on Friday, May 9th. The utilities provider reported $0.23 earnings per share for the quarter, meeting the consensus estimate of $0.23. The business had revenue of $744.07 million for the quarter. Hawaiian Electric Industries had a positive return on equity of 11.12% and a negative net margin of 35.38%. During the same period in the previous year, the firm posted $0.38 earnings per share. Sell-side analysts forecast that Hawaiian Electric Industries, Inc. will post 1.71 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. StockNews.com raised Hawaiian Electric Industries from a “sell” rating to a “hold” rating in a research note on Monday, May 12th. Barclays raised their price objective on Hawaiian Electric Industries from $10.00 to $11.00 and gave the company an “equal weight” rating in a research note on Tuesday, March 4th. Wells Fargo & Company raised their target price on Hawaiian Electric Industries from $11.00 to $12.50 and gave the stock an “equal weight” rating in a research note on Thursday, February 27th. Finally, Evercore ISI raised Hawaiian Electric Industries from an “in-line” rating to an “outperform” rating and raised their target price for the stock from $12.00 to $14.00 in a research note on Friday, March 7th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, Hawaiian Electric Industries presently has a consensus rating of “Hold” and an average target price of $12.00.

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.