Advisors Asset Management Inc. Sells 11,301 Shares of Hawaiian Electric Industries, Inc. (NYSE:HE)

Advisors Asset Management Inc. lowered its stake in Hawaiian Electric Industries, Inc. (NYSE:HE) by 50.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,322 shares of the utilities provider’s stock after selling 11,301 shares during the period. Advisors Asset Management Inc.’s holdings in Hawaiian Electric Industries were worth $110,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Abich Financial Wealth Management LLC raised its position in shares of Hawaiian Electric Industries by 54.4% in the 1st quarter. Abich Financial Wealth Management LLC now owns 3,226 shares of the utilities provider’s stock worth $36,000 after acquiring an additional 1,137 shares in the last quarter. KBC Group NV grew its stake in Hawaiian Electric Industries by 34.8% in the third quarter. KBC Group NV now owns 3,956 shares of the utilities provider’s stock worth $38,000 after purchasing an additional 1,021 shares during the period. UMB Bank n.a. bought a new position in Hawaiian Electric Industries in the third quarter worth $42,000. Quest Partners LLC raised its holdings in Hawaiian Electric Industries by 126.1% in the third quarter. Quest Partners LLC now owns 7,983 shares of the utilities provider’s stock worth $77,000 after purchasing an additional 4,453 shares in the last quarter. Finally, Signaturefd LLC lifted its position in Hawaiian Electric Industries by 30.8% during 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 period. 59.91% of the stock is owned by hedge funds and other institutional investors.

Hawaiian Electric Industries Trading Down 1.2 %

NYSE HE opened at $10.41 on Friday. Hawaiian Electric Industries, Inc. has a 12 month low of $7.61 and a 12 month high of $18.19. The company has a current ratio of 0.18, a quick ratio of 0.18 and a debt-to-equity ratio of 1.80. The stock’s fifty day moving average price is $10.12 and its 200-day moving average price is $11.16. The stock has a market cap of $1.79 billion, a P/E ratio of -0.88 and a beta of 0.53.

Hawaiian Electric Industries (NYSE:HE) last announced its quarterly earnings data on Friday, November 8th. The utilities provider reported $0.46 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.07). The firm had revenue of $983.38 million for the quarter. Hawaiian Electric Industries had a negative net margin of 35.38% and a positive return on equity of 11.12%. The business’s revenue was up 9.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.37 earnings per share.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on HE. StockNews.com downgraded shares of Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a research report on Friday, October 4th. Evercore ISI cut 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 report on Tuesday, November 19th. Finally, Wells Fargo & Company decreased their target price on shares of Hawaiian Electric Industries from $14.00 to $11.50 and set an “equal weight” rating for the company in a research note on Monday, September 30th.

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.