Hawaiian Electric Industries, Inc. (NYSE:HE) Shares Acquired by International Assets Investment Management LLC

International Assets Investment Management LLC lifted its position in shares of Hawaiian Electric Industries, Inc. (NYSE:HE) by 789.8% in the third quarter, Holdings Channel reports. The institutional investor owned 106,270 shares of the utilities provider’s stock after acquiring an additional 94,327 shares during the quarter. International Assets Investment Management LLC’s holdings in Hawaiian Electric Industries were worth $10,978,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in HE. New Covenant Trust Company N.A. purchased a new position in Hawaiian Electric Industries in the 1st quarter valued at approximately $32,000. Abich Financial Wealth Management LLC raised its holdings in shares of Hawaiian Electric Industries by 54.4% in the 1st quarter. Abich Financial Wealth Management LLC now owns 3,226 shares of the utilities provider’s stock valued at $36,000 after purchasing an additional 1,137 shares in the last quarter. Fidelis Capital Partners LLC acquired a new position in shares of Hawaiian Electric Industries during the first quarter worth $42,000. UMB Bank n.a. acquired a new position in shares of Hawaiian Electric Industries during the third quarter worth $42,000. Finally, Signaturefd LLC grew its stake in shares of Hawaiian Electric Industries by 30.8% during the second quarter. Signaturefd LLC now owns 8,437 shares of the utilities provider’s stock worth $76,000 after purchasing an additional 1,986 shares in the last quarter. Hedge funds and other institutional investors own 59.91% of the company’s stock.

Hawaiian Electric Industries Price Performance

Shares of NYSE:HE opened at $10.00 on Thursday. The company has a 50-day simple moving average of $10.56 and a 200-day simple moving average of $11.15. Hawaiian Electric Industries, Inc. has a one year low of $7.61 and a one year high of $18.19. The company has a debt-to-equity ratio of 2.62, a quick ratio of 0.11 and a current ratio of 0.11. The stock has a market capitalization of $1.10 billion, a price-to-earnings ratio of -0.95 and a beta of 0.54.

Hawaiian Electric Industries (NYSE:HE) last announced its earnings results on Friday, August 9th. The utilities provider reported $0.44 EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $792.30 million during the quarter. Hawaiian Electric Industries’s revenue was down .2% compared to the same quarter last year.

Wall Street Analysts Forecast Growth

HE has been the subject of a number of analyst reports. StockNews.com downgraded shares of Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a research note on Friday, October 4th. Wells Fargo & Company lowered their target price on shares of 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. 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 for the company in a research note on Tuesday, September 24th.

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.