Hawaiian Electric Industries, Inc. $HE Shares Acquired by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. increased its position in Hawaiian Electric Industries, Inc. (NYSE:HE) by 180.6% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 878,253 shares of the utilities provider’s stock after purchasing an additional 565,218 shares during the period. Assenagon Asset Management S.A. owned 0.51% of Hawaiian Electric Industries worth $9,696,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Horizon Kinetics Asset Management LLC increased its position in Hawaiian Electric Industries by 28.6% during the second quarter. Horizon Kinetics Asset Management LLC now owns 16,281,709 shares of the utilities provider’s stock worth $173,075,000 after buying an additional 3,624,709 shares during the period. Geode Capital Management LLC grew its position in shares of Hawaiian Electric Industries by 1.2% during the second quarter. Geode Capital Management LLC now owns 4,093,753 shares of the utilities provider’s stock worth $43,522,000 after acquiring an additional 48,686 shares during the last quarter. Franklin Resources Inc. grew its position in shares of Hawaiian Electric Industries by 1.3% during the second quarter. Franklin Resources Inc. now owns 2,744,843 shares of the utilities provider’s stock worth $29,178,000 after acquiring an additional 34,535 shares during the last quarter. Bank of America Corp DE increased its holdings in shares of Hawaiian Electric Industries by 3.1% in the 2nd quarter. Bank of America Corp DE now owns 1,489,138 shares of the utilities provider’s stock valued at $15,830,000 after acquiring an additional 45,159 shares during the period. Finally, Quantinno Capital Management LP raised its position in Hawaiian Electric Industries by 56.0% in the 2nd quarter. Quantinno Capital Management LP now owns 1,324,999 shares of the utilities provider’s stock valued at $14,085,000 after purchasing an additional 475,443 shares during the last quarter. Hedge funds and other institutional investors own 59.91% of the company’s stock.

Hawaiian Electric Industries Stock Down 6.0%

HE stock opened at $11.45 on Friday. The stock has a market capitalization of $1.98 billion, a PE ratio of 143.13 and a beta of 0.64. The company has a fifty day moving average of $11.60 and a 200-day moving average of $11.34. The company has a debt-to-equity ratio of 1.79, a quick ratio of 1.35 and a current ratio of 1.35. Hawaiian Electric Industries, Inc. has a one year low of $8.14 and a one year high of $13.41.

Hawaiian Electric Industries (NYSE:HE) last issued its quarterly earnings results on Friday, November 7th. The utilities provider reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.39. The business had revenue of $790.61 million for the quarter. Hawaiian Electric Industries had a net margin of 0.56% and a return on equity of 9.51%. As a group, analysts expect that Hawaiian Electric Industries, Inc. will post 1.71 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on HE shares. Jefferies Financial Group reissued a “hold” rating on shares of Hawaiian Electric Industries in a research report on Friday. Weiss Ratings reiterated a “sell (d)” rating on shares of Hawaiian Electric Industries in a research note on Monday, December 15th. One analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $12.13.

Hawaiian Electric Industries Profile

Hawaiian Electric Industries, Inc is a diversified holding company operating in the energy and financial services sectors in the state of Hawaii. Its principal subsidiary, Hawaiian Electric Company, provides generation, transmission, distribution and customer service to the island of Oahu, while its Maui Electric and Hawaii Electric Light Company subsidiaries serve Maui, Molokai, Lanai and Hawaii Island. The roots of the electric utility business trace back to 1891 when service first commenced in Honolulu.

Through its subsidiary Hawaii Gas, HEI extends its energy portfolio to include the distribution of natural gas and propane, supporting residential, commercial and industrial customers across the islands.