Hawaiian Electric Industries, Inc. (NYSE:HE) Shares Acquired by Acadian Asset Management LLC

Acadian Asset Management LLC boosted its stake in shares of Hawaiian Electric Industries, Inc. (NYSE:HE) by 158.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 27,873 shares of the utilities provider’s stock after purchasing an additional 17,093 shares during the quarter. Acadian Asset Management LLC’s holdings in Hawaiian Electric Industries were worth $251,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Victory Capital Management Inc. boosted its holdings in shares of Hawaiian Electric Industries by 62.0% during the second 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. Rhumbline Advisers lifted its position in Hawaiian Electric Industries by 56.2% in the 2nd quarter. Rhumbline Advisers now owns 175,675 shares of the utilities provider’s stock valued at $1,585,000 after purchasing an additional 63,241 shares during the last quarter. Van ECK Associates Corp boosted 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 purchasing an additional 2,482 shares during the period. Signaturefd LLC boosted its stake in Hawaiian Electric Industries by 30.8% during the 2nd quarter. Signaturefd LLC now owns 8,437 shares of the utilities provider’s stock valued at $76,000 after purchasing an additional 1,986 shares during the period. Finally, Principal Financial Group Inc. bought a new position in Hawaiian Electric Industries in the 2nd quarter worth about $98,000. 59.91% of the stock is currently owned by institutional investors.

Hawaiian Electric Industries Stock Down 9.2 %

HE stock opened at $10.96 on Friday. The firm’s 50-day moving average is $13.23 and its two-hundred day moving average is $11.40. The company has a market capitalization of $1.21 billion, a price-to-earnings ratio of 6.48 and a beta of 0.55. Hawaiian Electric Industries, Inc. has a 52 week low of $7.61 and a 52 week 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.

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

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on HE shares. Evercore ISI reaffirmed an “in-line” rating and set a $16.00 price target on shares of Hawaiian Electric Industries in a report on Wednesday, August 14th. StockNews.com downgraded Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a research note on Monday. Finally, Wells Fargo & Company raised Hawaiian Electric Industries from an “underweight” rating to an “equal weight” rating and set a $14.00 price target for the company in a research note on Friday, August 23rd.

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.