GAMMA Investing LLC Acquires 22,565 Shares of Hawaiian Electric Industries, Inc. (NYSE:HE)

GAMMA Investing LLC increased its holdings in Hawaiian Electric Industries, Inc. (NYSE:HE) by 236.5% during the 3rd quarter, Holdings Channel reports. The firm owned 32,105 shares of the utilities provider’s stock after buying an additional 22,565 shares during the period. GAMMA Investing LLC’s holdings in Hawaiian Electric Industries were worth $311,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. New Covenant Trust Company N.A. bought a new stake in shares of Hawaiian Electric Industries in the first quarter worth about $32,000. Abich Financial Wealth Management LLC boosted its position in Hawaiian Electric Industries by 54.4% during the 1st quarter. Abich Financial Wealth Management LLC now owns 3,226 shares of the utilities provider’s stock valued at $36,000 after acquiring an additional 1,137 shares in the last quarter. Fidelis Capital Partners LLC bought a new stake in Hawaiian Electric Industries during the 1st quarter valued at approximately $42,000. Signaturefd LLC boosted its position 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 acquiring an additional 1,986 shares in the last quarter. Finally, Evergreen Capital Management LLC bought a new stake in Hawaiian Electric Industries during the 2nd quarter valued at approximately $91,000. 59.91% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on HE. Wells Fargo & Company cut 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 report on Monday, September 30th. Evercore ISI cut their price objective on Hawaiian Electric Industries from $16.00 to $9.00 and set an “in-line” rating on the stock in a research report on Tuesday, September 24th. Finally, StockNews.com cut Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a research report on Friday, October 4th.

Hawaiian Electric Industries Price Performance

HE stock opened at $9.81 on Friday. The firm has a 50 day moving average price of $11.71 and a 200-day moving average price of $11.24. Hawaiian Electric Industries, Inc. has a 52-week low of $7.61 and a 52-week high of $18.19. The firm has a market capitalization of $1.08 billion, a price-to-earnings ratio of 5.80 and a beta of 0.54. The company has a debt-to-equity ratio of 2.62, a quick ratio of 0.11 and a current ratio of 0.11.

Hawaiian Electric Industries (NYSE:HE) last released its earnings results 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). Hawaiian Electric Industries had a negative net margin of 31.76% and a positive return on equity of 10.69%. The business had revenue of $792.30 million for the quarter. The firm’s revenue for the quarter was down .2% compared to the same quarter last year.

Hawaiian Electric Industries Company 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.