Amalgamated Bank Has $34,000 Position in Hawaiian Electric Industries, Inc. (NYSE:HE)

Amalgamated Bank lowered its stake in Hawaiian Electric Industries, Inc. (NYSE:HE) by 82.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,745 shares of the utilities provider’s stock after selling 17,336 shares during the quarter. Amalgamated Bank’s holdings in Hawaiian Electric Industries were worth $34,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. American Century Companies Inc. grew its position in Hawaiian Electric Industries by 13.9% in the 2nd quarter. American Century Companies Inc. now owns 177,049 shares of the utilities provider’s stock valued at $1,597,000 after purchasing an additional 21,584 shares during the period. Choreo LLC bought a new stake in Hawaiian Electric Industries in the 2nd quarter valued at about $141,000. Acadian Asset Management LLC raised its stake in Hawaiian Electric Industries by 158.6% in the 2nd quarter. Acadian Asset Management LLC now owns 27,873 shares of the utilities provider’s stock valued at $251,000 after acquiring an additional 17,093 shares during the period. Victory Capital Management Inc. raised its stake in Hawaiian Electric Industries by 62.0% in the 2nd quarter. Victory Capital Management Inc. now owns 62,952 shares of the utilities provider’s stock valued at $568,000 after acquiring an additional 24,087 shares during the period. Finally, Rhumbline Advisers grew its holdings in Hawaiian Electric Industries by 56.2% during the 2nd quarter. Rhumbline Advisers now owns 175,675 shares of the utilities provider’s stock valued at $1,585,000 after buying an additional 63,241 shares in the last quarter. Institutional investors own 59.91% of the company’s stock.

Hawaiian Electric Industries Stock Performance

HE opened at $9.13 on Wednesday. Hawaiian Electric Industries, Inc. has a twelve month low of $7.61 and a twelve month high of $18.19. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 2.62. The firm has a market capitalization of $1.01 billion, a PE ratio of 5.53 and a beta of 0.55. The firm’s 50-day moving average price is $12.83 and its 200 day moving average price is $11.33.

Hawaiian Electric Industries (NYSE:HE) last announced its quarterly earnings results on Friday, August 9th. The utilities provider reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.05). Hawaiian Electric Industries had a positive return on equity of 10.69% and a negative net margin of 31.76%. The business had revenue of $792.30 million for the quarter. The firm’s quarterly revenue was down .2% compared to the same quarter last year.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. StockNews.com downgraded Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a research report on Wednesday, September 25th. Wells Fargo & Company decreased 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 note on Monday. Finally, Evercore ISI cut their price target on Hawaiian Electric Industries from $16.00 to $9.00 and set an “in-line” rating for the company in a report on Tuesday, September 24th.

About Hawaiian Electric Industries

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.