Algert Global LLC Has $887,000 Holdings in Hawaiian Electric Industries, Inc. (NYSE:HE)

Algert Global LLC trimmed its holdings in Hawaiian Electric Industries, Inc. (NYSE:HE) by 45.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 91,604 shares of the utilities provider’s stock after selling 75,880 shares during the period. Algert Global LLC owned 0.08% of Hawaiian Electric Industries worth $887,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. Abich Financial Wealth Management LLC boosted 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. KBC Group NV grew its position in Hawaiian Electric Industries by 34.8% in the third quarter. KBC Group NV now owns 3,956 shares of the utilities provider’s stock valued at $38,000 after acquiring an additional 1,021 shares during the last quarter. UMB Bank n.a. acquired a new position in Hawaiian Electric Industries during the third quarter worth about $42,000. Quest Partners LLC lifted its holdings in shares of Hawaiian Electric Industries by 126.1% in the third quarter. Quest Partners LLC now owns 7,983 shares of the utilities provider’s stock worth $77,000 after acquiring an additional 4,453 shares during the last quarter. Finally, Signaturefd LLC boosted its stake in shares of Hawaiian Electric Industries by 30.8% in the 2nd quarter. Signaturefd LLC now owns 8,437 shares of the utilities provider’s stock valued at $76,000 after purchasing an additional 1,986 shares in the last quarter. 59.91% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. StockNews.com downgraded shares of Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a research note on Friday, October 4th. Evercore ISI cut their price objective on Hawaiian Electric Industries from $11.00 to $10.00 and set an “in-line” rating on the stock in a report on Tuesday, November 19th. Finally, Wells Fargo & Company lowered their target price on Hawaiian Electric Industries from $14.00 to $11.50 and set an “equal weight” rating for the company in a report on Monday, September 30th.

Hawaiian Electric Industries Price Performance

HE stock opened at $10.41 on Friday. The company has a market capitalization of $1.79 billion, a P/E ratio of -0.88 and a beta of 0.53. The company has a fifty day moving average price of $10.12 and a 200-day moving average price of $11.16. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.18 and a current ratio of 0.18. Hawaiian Electric Industries, Inc. has a 52-week low of $7.61 and a 52-week high of $18.19.

Hawaiian Electric Industries (NYSE:HE) last announced its earnings results on Friday, November 8th. The utilities provider reported $0.46 earnings per share (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 firm’s revenue was up 9.0% compared to the same quarter last year. During the same period in the prior year, the company posted $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.