Assenagon Asset Management S.A. Reduces Stock Position in Hawaiian Electric Industries, Inc. (NYSE:HE)

Assenagon Asset Management S.A. decreased its position in Hawaiian Electric Industries, Inc. (NYSE:HE - Free Report) by 60.5% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 162,300 shares of the utilities provider's stock after selling 248,550 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.15% of Hawaiian Electric Industries worth $1,571,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of HE. Norden Group LLC purchased a new position in shares of Hawaiian Electric Industries during the 1st quarter worth $261,000. Capstone Investment Advisors LLC lifted its position in Hawaiian Electric Industries by 113.0% during the first quarter. Capstone Investment Advisors LLC now owns 35,268 shares of the utilities provider's stock valued at $397,000 after purchasing an additional 18,708 shares in the last quarter. Fidelis Capital Partners LLC bought a new stake in Hawaiian Electric Industries during the first quarter valued at about $42,000. Quantbot Technologies LP increased its position in Hawaiian Electric Industries by 57.5% in the first quarter. Quantbot Technologies LP now owns 165,380 shares of the utilities provider's stock worth $1,864,000 after buying an additional 60,346 shares in the last quarter. Finally, Oppenheimer & Co. Inc. raised its stake in shares of Hawaiian Electric Industries by 14.4% in the first quarter. Oppenheimer & Co. Inc. now owns 31,000 shares of the utilities provider's stock worth $349,000 after buying an additional 3,900 shares during the period. Institutional investors own 59.91% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Wells Fargo & Company cut their price objective 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. StockNews.com cut shares of Hawaiian Electric Industries from a "hold" rating to a "sell" rating in a research note on Friday, October 4th. Finally, Evercore ISI lowered their target price on shares of Hawaiian Electric Industries from $16.00 to $9.00 and set an "in-line" rating on the stock in a research note on Tuesday, September 24th.

Hawaiian Electric Industries Price Performance

Shares of NYSE:HE traded down $0.05 during trading on Friday, hitting $10.22. 3,667,474 shares of the company's stock were exchanged, compared to its average volume of 3,402,515. The business's 50-day simple moving average is $10.48 and its 200 day simple moving average is $11.14. The company has a market cap of $1.13 billion, a price-to-earnings ratio of -0.97 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 2.62, a current ratio of 0.11 and a quick ratio of 0.11.

Hawaiian Electric Industries (NYSE:HE - Get Free Report) last released its quarterly earnings data on Friday, August 9th. The utilities provider reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.05). Hawaiian Electric Industries had a negative net margin of 31.76% and a positive return on equity of 10.69%. The company had revenue of $792.30 million for the quarter. The company's revenue was down .2% on a year-over-year basis.

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.