Algert Global LLC Sells 75,880 Shares of Hawaiian Electric Industries, Inc. (NYSE:HE)

Algert Global LLC lowered its holdings in shares of Hawaiian Electric Industries, Inc. (NYSE:HE) by 45.3% in the 3rd quarter, HoldingsChannel reports. The firm owned 91,604 shares of the utilities provider’s stock after selling 75,880 shares during the period. Algert Global LLC’s holdings in Hawaiian Electric Industries were worth $887,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Abich Financial Wealth Management LLC increased its stake 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 purchasing an additional 1,137 shares in the last quarter. KBC Group NV increased its position in Hawaiian Electric Industries by 34.8% in the 3rd quarter. KBC Group NV now owns 3,956 shares of the utilities provider’s stock valued at $38,000 after buying an additional 1,021 shares in the last quarter. UMB Bank n.a. acquired a new position in Hawaiian Electric Industries during the 3rd quarter worth approximately $42,000. Signaturefd LLC grew its stake in Hawaiian Electric Industries by 30.8% in the second 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 period. Finally, Quest Partners LLC increased its holdings in shares of Hawaiian Electric Industries by 126.1% during the third quarter. Quest Partners LLC now owns 7,983 shares of the utilities provider’s stock valued at $77,000 after acquiring an additional 4,453 shares in the last quarter. 59.91% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on HE shares. StockNews.com lowered shares of Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a research note on Friday, October 4th. Evercore ISI reduced 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 report on Tuesday, November 19th. Finally, 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 on the stock in a report on Monday, September 30th.

Hawaiian Electric Industries Trading Down 1.2 %

Shares of Hawaiian Electric Industries stock opened at $10.41 on Friday. The company has a current ratio of 0.18, a quick ratio of 0.18 and a debt-to-equity ratio of 1.80. The stock has a fifty day simple moving average of $10.12 and a 200 day simple moving average of $11.16. Hawaiian Electric Industries, Inc. has a 12-month low of $7.61 and a 12-month high of $18.19. The company has a market capitalization of $1.79 billion, a P/E ratio of -0.88 and a beta of 0.53.

Hawaiian Electric Industries (NYSE:HE) last released its quarterly earnings results 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 negative net margin of 35.38% and a positive return on equity of 11.12%. The firm had revenue of $983.38 million for the quarter. During the same quarter in the prior year, the firm earned $0.37 earnings per share. Hawaiian Electric Industries’s quarterly revenue was up 9.0% 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.