Hawaiian Electric Industries, Inc. (NYSE:HE) Shares Sold by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP reduced its position in shares of Hawaiian Electric Industries, Inc. (NYSE:HE) by 27.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 405,228 shares of the utilities provider’s stock after selling 151,043 shares during the period. Dimensional Fund Advisors LP owned 0.37% of Hawaiian Electric Industries worth $3,655,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in HE. New Covenant Trust Company N.A. purchased a new stake in shares of Hawaiian Electric Industries during the first quarter worth approximately $32,000. Abich Financial Wealth Management LLC grew 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 worth $36,000 after buying an additional 1,137 shares in the last quarter. Fidelis Capital Partners LLC acquired a new stake in shares of Hawaiian Electric Industries in the first quarter valued at about $42,000. Signaturefd LLC raised its position in shares of 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 buying an additional 1,986 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of Hawaiian Electric Industries by 82.3% in the second quarter. GAMMA Investing LLC now owns 9,540 shares of the utilities provider’s stock worth $86,000 after buying an additional 4,308 shares in the last quarter. Institutional investors and hedge funds own 59.91% of the company’s stock.

Hawaiian Electric Industries Trading Up 2.9 %

Shares of HE stock opened at $9.81 on Friday. The stock has a market capitalization of $1.08 billion, a P/E ratio of 5.80 and a beta of 0.54. Hawaiian Electric Industries, Inc. has a fifty-two week low of $7.61 and a fifty-two week high of $18.19. The company has a debt-to-equity ratio of 2.62, a quick ratio of 0.11 and a current ratio of 0.11. The company has a 50 day moving average price of $11.71 and a 200 day moving average price of $11.24.

Hawaiian Electric Industries (NYSE:HE) last issued its earnings results on Friday, August 9th. The utilities provider reported $0.44 earnings per share 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 firm had revenue of $792.30 million during the quarter. The business’s revenue was down .2% on a year-over-year basis.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. StockNews.com cut shares of Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a research note on Friday, October 4th. Evercore ISI dropped their price target on Hawaiian Electric Industries from $16.00 to $9.00 and set an “in-line” rating for the company in a research report on Tuesday, September 24th. Finally, Wells Fargo & Company reduced 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 report 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.