Creative Planning Lowers Position in Hawaiian Electric Industries, Inc. (NYSE:HE)

Creative Planning cut its position in shares of Hawaiian Electric Industries, Inc. (NYSE:HE) by 17.1% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 58,626 shares of the utilities provider’s stock after selling 12,057 shares during the quarter. Creative Planning owned about 0.05% of Hawaiian Electric Industries worth $567,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. 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 valued at $36,000 after buying an additional 1,137 shares during the last quarter. IMS Capital Management lifted its position in Hawaiian Electric Industries by 2.5% during the second quarter. IMS Capital Management now owns 51,957 shares of the utilities provider’s stock valued at $469,000 after purchasing an additional 1,257 shares during the period. CANADA LIFE ASSURANCE Co lifted its position in Hawaiian Electric Industries by 17.0% during the first quarter. CANADA LIFE ASSURANCE Co now owns 12,172 shares of the utilities provider’s stock valued at $137,000 after purchasing an additional 1,766 shares during the period. Signaturefd LLC grew its position in Hawaiian Electric Industries by 30.8% in the 2nd quarter. Signaturefd LLC now owns 8,437 shares of the utilities provider’s stock worth $76,000 after purchasing an additional 1,986 shares during the period. Finally, Van ECK Associates Corp raised its stake in Hawaiian Electric Industries by 9.5% during the 2nd quarter. Van ECK Associates Corp now owns 28,481 shares of the utilities provider’s stock valued at $257,000 after buying an additional 2,482 shares during the last quarter. Hedge funds and other institutional investors own 59.91% of the company’s stock.

Hawaiian Electric Industries Stock Up 1.6 %

Shares of HE opened at $10.38 on Tuesday. The business’s 50 day simple moving average is $10.46 and its 200-day simple moving average is $11.16. Hawaiian Electric Industries, Inc. has a 1 year low of $7.61 and a 1 year high of $18.19. The company has a debt-to-equity ratio of 2.62, a current ratio of 0.11 and a quick ratio of 0.11. The stock has a market capitalization of $1.14 billion, a price-to-earnings ratio of -0.98 and a beta of 0.53.

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

Analyst Ratings Changes

Several equities analysts have recently weighed in on HE shares. StockNews.com cut shares of Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a research note on Friday, October 4th. Wells Fargo & Company dropped their price target on shares of Hawaiian Electric Industries from $14.00 to $11.50 and set an “equal weight” rating on the stock in a research note on Monday, September 30th. Finally, Evercore ISI reduced their price objective on Hawaiian Electric Industries from $16.00 to $9.00 and set an “in-line” rating for the company in a research note on Tuesday, September 24th.

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.