Assenagon Asset Management S.A. lifted its stake in Hawaiian Electric Industries, Inc. (NYSE:HE - Free Report) by 92.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 313,035 shares of the utilities provider's stock after purchasing an additional 150,735 shares during the period. Assenagon Asset Management S.A. owned about 0.18% of Hawaiian Electric Industries worth $3,046,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. FNY Investment Advisers LLC purchased a new stake in shares of Hawaiian Electric Industries during the 4th quarter worth $119,000. Brookstone Capital Management purchased a new stake in Hawaiian Electric Industries during the 4th quarter worth about $101,000. Diversified Trust Co boosted its position in shares of Hawaiian Electric Industries by 2.9% during the 4th quarter. Diversified Trust Co now owns 41,455 shares of the utilities provider's stock worth $403,000 after acquiring an additional 1,184 shares in the last quarter. Franklin Resources Inc. increased its holdings in shares of Hawaiian Electric Industries by 656.7% in the 3rd quarter. Franklin Resources Inc. now owns 2,722,668 shares of the utilities provider's stock valued at $27,499,000 after acquiring an additional 2,362,863 shares during the last quarter. Finally, Peapack Gladstone Financial Corp purchased a new position in shares of Hawaiian Electric Industries in the 3rd quarter valued at about $184,000. 59.91% of the stock is owned by institutional investors and hedge funds.
Hawaiian Electric Industries Stock Performance
Shares of HE traded down $0.39 during mid-day trading on Wednesday, reaching $9.19. 2,803,725 shares of the company's stock were exchanged, compared to its average volume of 3,180,493. The business's fifty day simple moving average is $9.86 and its 200-day simple moving average is $11.08. The stock has a market capitalization of $1.58 billion, a PE ratio of -0.78 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 current ratio of 0.18 and a quick ratio of 0.18.
Hawaiian Electric Industries (NYSE:HE - Get Free Report) last posted its quarterly earnings data on Friday, November 8th. The utilities provider reported $0.46 earnings per share for the quarter, missing analysts' consensus estimates of $0.53 by ($0.07). Hawaiian Electric Industries had a positive return on equity of 11.12% and a negative net margin of 35.38%. The company had revenue of $983.38 million for the quarter. During the same period last year, the firm earned $0.37 earnings per share. The company's revenue for the quarter was up 9.0% compared to the same quarter last year. On average, equities research analysts expect that Hawaiian Electric Industries, Inc. will post 1.71 earnings per share for the current year.
Analyst Upgrades and Downgrades
HE has been the subject of a number of research analyst reports. Wells Fargo & Company lowered their price target on Hawaiian Electric Industries from $14.00 to $11.50 and set an "equal weight" rating for the company in a report on Monday, September 30th. StockNews.com upgraded shares of Hawaiian Electric Industries from a "sell" rating to a "hold" rating in a report on Saturday, January 11th. Jefferies Financial Group cut their price target 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, 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.
Check Out Our Latest Stock Analysis on HE
Hawaiian Electric Industries Company Profile
(
Free Report)
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.
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