Hawaiian Electric Industries, Inc. (NYSE:HE) Stake Reduced by GAMMA Investing LLC

GAMMA Investing LLC trimmed its stake in Hawaiian Electric Industries, Inc. (NYSE:HE) by 12.4% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 28,131 shares of the utilities provider’s stock after selling 3,974 shares during the quarter. GAMMA Investing LLC’s holdings in Hawaiian Electric Industries were worth $274,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. KBC Group NV raised its stake in Hawaiian Electric Industries by 34.8% during the 3rd 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 in the last quarter. UMB Bank n.a. bought a new stake in shares of Hawaiian Electric Industries during the third quarter valued at about $42,000. Quarry LP lifted its holdings in Hawaiian Electric Industries by 156.6% in the third quarter. Quarry LP now owns 4,503 shares of the utilities provider’s stock worth $44,000 after purchasing an additional 2,748 shares during the period. Millburn Ridgefield Corp bought a new position in Hawaiian Electric Industries in the 3rd quarter valued at about $55,000. Finally, Quest Partners LLC raised its position in shares of Hawaiian Electric Industries by 126.1% during the 3rd quarter. Quest Partners LLC now owns 7,983 shares of the utilities provider’s stock worth $77,000 after buying an additional 4,453 shares in the last quarter. Institutional investors and hedge funds own 59.91% of the company’s stock.

Hawaiian Electric Industries Price Performance

Shares of NYSE:HE opened at $9.09 on Wednesday. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.18 and a current ratio of 0.18. The company has a market capitalization of $1.57 billion, a PE ratio of -0.77 and a beta of 0.53. The stock has a fifty day moving average of $10.17 and a 200-day moving average of $11.08. Hawaiian Electric Industries, Inc. has a one year low of $7.61 and a one year high of $18.19.

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). The company had revenue of $983.38 million during the quarter. Hawaiian Electric Industries had a negative net margin of 35.38% and a positive return on equity of 11.12%. The firm’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same period last year, the business earned $0.37 EPS. As a group, equities analysts anticipate that Hawaiian Electric Industries, Inc. will post 1.71 EPS for the current fiscal year.

Wall Street Analyst Weigh In

HE has been the topic of a number of research analyst reports. Evercore ISI lowered their price objective on shares of Hawaiian Electric Industries from $11.00 to $10.00 and set an “in-line” rating on the stock in a research note on Tuesday, November 19th. StockNews.com downgraded Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a research note on Friday, January 3rd. Wells Fargo & Company cut their price objective 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. Finally, Jefferies Financial Group dropped their price target on shares of Hawaiian Electric Industries from $11.50 to $10.50 and set a “hold” rating on the stock in a research report on Friday, January 3rd.

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.