Thrivent Financial for Lutherans Takes Position in Hawaiian Electric Industries, Inc. (NYSE:HE)

Thrivent Financial for Lutherans acquired a new stake in Hawaiian Electric Industries, Inc. (NYSE:HE) in the third quarter, Holdings Channel reports. The institutional investor acquired 230,643 shares of the utilities provider’s stock, valued at approximately $2,233,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in shares of Hawaiian Electric Industries by 1.5% in the first quarter. Vanguard Group Inc. now owns 11,059,244 shares of the utilities provider’s stock worth $124,638,000 after acquiring an additional 160,815 shares in the last quarter. AQR Capital Management LLC grew its holdings in shares of Hawaiian Electric Industries by 52.8% during the second quarter. AQR Capital Management LLC now owns 6,693,424 shares of the utilities provider’s stock worth $60,308,000 after buying an additional 2,312,950 shares in the last quarter. Millennium Management LLC boosted its position in Hawaiian Electric Industries by 79.0% during the second quarter. Millennium Management LLC now owns 1,870,088 shares of the utilities provider’s stock valued at $16,868,000 after purchasing an additional 825,073 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Hawaiian Electric Industries by 23.2% during the second quarter. Bank of New York Mellon Corp now owns 638,156 shares of the utilities provider’s stock valued at $5,756,000 after purchasing an additional 120,208 shares during the last quarter. Finally, Seven Grand Managers LLC acquired a new position in Hawaiian Electric Industries during the third quarter valued at approximately $4,888,000. Institutional investors own 59.91% of the company’s stock.

Analysts Set New Price Targets

HE has been the subject of a number of recent analyst reports. StockNews.com cut Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a research report on Friday, October 4th. Wells Fargo & Company lowered their price objective on 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. Finally, Evercore ISI decreased their price target on Hawaiian Electric Industries from $11.00 to $10.00 and set an “in-line” rating on the stock in a research note on Tuesday, November 19th.

Hawaiian Electric Industries Stock Down 0.4 %

Shares of HE opened at $10.53 on Thursday. The company has a market capitalization of $1.82 billion, a PE ratio of -0.89 and a beta of 0.53. Hawaiian Electric Industries, Inc. has a 12 month low of $7.61 and a 12 month high of $18.19. The stock’s 50-day moving average price is $10.14 and its two-hundred day moving average price is $11.17. The company has a current ratio of 0.18, a quick ratio of 0.18 and a debt-to-equity ratio of 1.80.

Hawaiian Electric Industries (NYSE:HE) last announced its earnings results on Friday, November 8th. The utilities provider reported $0.46 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.07). The company had revenue of $983.38 million for the quarter. Hawaiian Electric Industries had a positive return on equity of 11.12% and a negative net margin of 35.38%. The company’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.37 earnings per share.

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.