Algert Global LLC Cuts Position in Hawaiian Electric Industries, Inc. (NYSE:HE)

Algert Global LLC cut its position in Hawaiian Electric Industries, Inc. (NYSE:HE - Free Report) by 45.3% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 91,604 shares of the utilities provider's stock after selling 75,880 shares during the quarter. Algert Global LLC owned approximately 0.08% of Hawaiian Electric Industries worth $887,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Charles Schwab Investment Management Inc. increased its position in shares of Hawaiian Electric Industries by 20.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,021,649 shares of the utilities provider's stock worth $29,250,000 after purchasing an additional 514,989 shares in the last quarter. Intech Investment Management LLC purchased a new position in Hawaiian Electric Industries during the 3rd quarter worth $239,000. Quest Partners LLC increased its position in Hawaiian Electric Industries by 126.1% during the 3rd quarter. Quest Partners LLC now owns 7,983 shares of the utilities provider's stock valued at $77,000 after buying an additional 4,453 shares in the last quarter. Thrivent Financial for Lutherans purchased a new stake in Hawaiian Electric Industries in the third quarter valued at about $2,233,000. Finally, KBC Group NV boosted its holdings in Hawaiian Electric Industries by 34.8% in 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 in the last quarter. 59.91% of the stock is owned by hedge funds and other institutional investors.

Hawaiian Electric Industries Trading Down 1.3 %

Shares of Hawaiian Electric Industries stock traded down $0.14 on Friday, reaching $10.39. The company had a trading volume of 1,070,270 shares, compared to its average volume of 3,371,857. The firm's 50 day moving average price is $10.12 and its two-hundred day moving average price is $11.16. The firm has a market cap of $1.79 billion, a PE ratio of -0.88 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. 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 - Get Free Report) last released its quarterly earnings results 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). Hawaiian Electric Industries had a negative net margin of 35.38% and a positive return on equity of 11.12%. The company had revenue of $983.38 million during the quarter. During the same quarter last year, the business earned $0.37 earnings per share. The business's revenue for the quarter was up 9.0% on a year-over-year basis.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on HE shares. StockNews.com lowered Hawaiian Electric Industries from a "hold" rating to a "sell" rating in a report on Friday, October 4th. Evercore ISI decreased their price objective on shares of Hawaiian Electric Industries from $11.00 to $10.00 and set an "in-line" rating for the company in a research note on Tuesday, November 19th. 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 note on Monday, September 30th.

Hawaiian Electric Industries 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.