Assenagon Asset Management S.A. Cuts Stake in Hawaiian Electric Industries, Inc. (NYSE:HE)

Assenagon Asset Management S.A. lessened its stake in Hawaiian Electric Industries, Inc. (NYSE:HE) by 60.5% in the 3rd quarter, Holdings Channel.com reports. 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.’s holdings in Hawaiian Electric Industries were worth $1,571,000 as of its most recent SEC filing.

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

Hawaiian Electric Industries Trading Down 0.4 %

Hawaiian Electric Industries stock opened at $10.23 on Friday. Hawaiian Electric Industries, Inc. has a 52-week low of $7.61 and a 52-week high of $18.19. The company has a market cap of $1.13 billion, a P/E ratio of -0.97 and a beta of 0.54. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 2.62. The business has a 50-day simple moving average of $10.48 and a two-hundred day simple moving average of $11.14.

Hawaiian Electric Industries (NYSE:HE) last announced its earnings results 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 business had revenue of $792.30 million for the quarter. Hawaiian Electric Industries’s revenue for the quarter was down .2% compared to the same quarter last year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on HE shares. StockNews.com downgraded shares of Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a report on Friday, October 4th. Evercore ISI dropped 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 report on Tuesday, September 24th. Finally, Wells Fargo & Company decreased 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.

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.