505,000 Shares in Hawaiian Electric Industries, Inc. (NYSE:HE) Purchased by Seven Grand Managers LLC

Seven Grand Managers LLC acquired a new position in Hawaiian Electric Industries, Inc. (NYSE:HE - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 505,000 shares of the utilities provider's stock, valued at approximately $4,888,000. Seven Grand Managers LLC owned about 0.46% of Hawaiian Electric Industries at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. New Covenant Trust Company N.A. bought a new position in shares of Hawaiian Electric Industries in the 1st quarter valued at about $32,000. Abich Financial Wealth Management LLC lifted its holdings in Hawaiian Electric Industries by 54.4% in the first quarter. Abich Financial Wealth Management LLC now owns 3,226 shares of the utilities provider's stock valued at $36,000 after buying an additional 1,137 shares during the period. Fidelis Capital Partners LLC acquired a new stake in Hawaiian Electric Industries during the 1st quarter worth $42,000. UMB Bank n.a. acquired a new stake in Hawaiian Electric Industries during the 3rd quarter worth $42,000. Finally, Signaturefd LLC raised its position in shares of Hawaiian Electric Industries by 30.8% during the 2nd quarter. Signaturefd LLC now owns 8,437 shares of the utilities provider's stock valued at $76,000 after acquiring an additional 1,986 shares during the last quarter. Institutional investors and hedge funds own 59.91% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on HE shares. StockNews.com lowered Hawaiian Electric Industries from a "hold" rating to a "sell" rating in a research report on Friday, October 4th. Evercore ISI reduced their target price on Hawaiian Electric Industries from $16.00 to $9.00 and set an "in-line" rating on the stock in a report on Tuesday, September 24th. Finally, 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 research note on Monday, September 30th.

Hawaiian Electric Industries Trading Down 2.2 %

Shares of HE stock traded down $0.22 on Thursday, hitting $10.23. The stock had a trading volume of 2,122,224 shares, compared to its average volume of 3,431,496. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 2.62. Hawaiian Electric Industries, Inc. has a twelve month low of $7.61 and a twelve month high of $18.19. The company has a fifty day moving average price of $11.12 and a two-hundred day moving average price of $11.21. The firm has a market cap of $1.13 billion, a P/E ratio of 6.05 and a beta of 0.54.

Hawaiian Electric Industries (NYSE:HE - Get Free Report) last posted its earnings results on Friday, August 9th. The utilities provider reported $0.44 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.49 by ($0.05). The business had revenue of $792.30 million during the quarter. Hawaiian Electric Industries had a negative net margin of 31.76% and a positive return on equity of 10.69%. The firm's revenue was down .2% compared to the same quarter last year.

Hawaiian Electric Industries Company 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.