Assenagon Asset Management S.A. Sells 768,318 Shares of Hawaiian Electric Industries, Inc. $HE

Assenagon Asset Management S.A. lowered its position in Hawaiian Electric Industries, Inc. (NYSE:HE) by 87.6% during the first quarter, according to its most recent filing with the SEC. The firm owned 108,503 shares of the utilities provider’s stock after selling 768,318 shares during the period. Assenagon Asset Management S.A. owned 0.06% of Hawaiian Electric Industries worth $1,610,000 as of its most recent filing with the SEC.

Other institutional investors have also bought and sold shares of the company. Caitong International Asset Management Co. Ltd increased its stake in shares of Hawaiian Electric Industries by 199,800.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,999 shares of the utilities provider’s stock valued at $25,000 after acquiring an additional 1,998 shares in the last quarter. Navalign LLC bought a new stake in shares of Hawaiian Electric Industries during the fourth quarter valued at approximately $25,000. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Hawaiian Electric Industries by 142.2% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 2,325 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 1,365 shares in the last quarter. Tucker Asset Management LLC acquired a new position in shares of Hawaiian Electric Industries during the fourth quarter worth approximately $32,000. Finally, Smartleaf Asset Management LLC lifted its holdings in shares of Hawaiian Electric Industries by 334.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,576 shares of the utilities provider’s stock worth $32,000 after purchasing an additional 1,983 shares in the last quarter. Institutional investors own 59.91% of the company’s stock.

Hawaiian Electric Industries Trading Down 0.9%

Shares of Hawaiian Electric Industries stock opened at $13.41 on Thursday. The firm has a market cap of $2.31 billion, a PE ratio of 18.12 and a beta of 0.49. Hawaiian Electric Industries, Inc. has a 1 year low of $10.45 and a 1 year high of $17.38. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.34 and a quick ratio of 1.34. The stock has a fifty day moving average price of $13.84 and a 200-day moving average price of $14.38.

Hawaiian Electric Industries (NYSE:HE) last issued its quarterly earnings results on Friday, May 8th. The utilities provider reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.09). The company had revenue of $746.45 million during the quarter, compared to analysts’ expectations of $746.45 million. Hawaiian Electric Industries had a return on equity of 9.03% and a net margin of 4.19%. Equities research analysts anticipate that Hawaiian Electric Industries, Inc. will post 1.06 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have commented on HE shares. Barclays decreased their price target on shares of Hawaiian Electric Industries from $14.00 to $13.00 and set an “equal weight” rating for the company in a research note on Thursday, June 25th. Wall Street Zen downgraded shares of Hawaiian Electric Industries from a “buy” rating to a “hold” rating in a research report on Saturday, April 11th. Zacks Research lowered shares of Hawaiian Electric Industries from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 6th. Finally, Weiss Ratings downgraded Hawaiian Electric Industries from a “sell (d+)” rating to a “sell (d)” rating in a report on Monday, June 15th. Two analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and an average price target of $12.75.

Hawaiian Electric Industries Company Profile

Hawaiian Electric Industries, Inc is a diversified holding company operating in the energy and financial services sectors in the state of Hawaii. Its principal subsidiary, Hawaiian Electric Company, provides generation, transmission, distribution and customer service to the island of Oahu, while its Maui Electric and Hawaii Electric Light Company subsidiaries serve Maui, Molokai, Lanai and Hawaii Island. The roots of the electric utility business trace back to 1891 when service first commenced in Honolulu.

Through its subsidiary Hawaii Gas, HEI extends its energy portfolio to include the distribution of natural gas and propane, supporting residential, commercial and industrial customers across the islands.