Arden Trust Co Decreases Position in Hawaiian Electric Industries, Inc. (NYSE:HE)

Arden Trust Co trimmed its position in shares of Hawaiian Electric Industries, Inc. (NYSE:HE) by 84.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 24,182 shares of the utilities provider’s stock after selling 129,235 shares during the quarter. Arden Trust Co’s holdings in Hawaiian Electric Industries were worth $218,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Hawaiian Electric Industries by 1.5% in the first quarter. Vanguard Group Inc. now owns 11,059,244 shares of the utilities provider’s stock valued at $124,638,000 after purchasing an additional 160,815 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Hawaiian Electric Industries by 21.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,621,304 shares of the utilities provider’s stock valued at $23,006,000 after purchasing an additional 285,955 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in Hawaiian Electric Industries by 10.1% in the first quarter. Assenagon Asset Management S.A. now owns 1,475,102 shares of the utilities provider’s stock valued at $16,624,000 after purchasing an additional 135,102 shares during the last quarter. Verition Fund Management LLC acquired a new position in Hawaiian Electric Industries in the fourth quarter valued at $8,944,000. Finally, BNP Paribas Financial Markets increased its stake in Hawaiian Electric Industries by 2,854.9% in the fourth quarter. BNP Paribas Financial Markets now owns 580,931 shares of the utilities provider’s stock valued at $8,243,000 after purchasing an additional 561,271 shares during the last quarter. 59.91% of the stock is currently owned by hedge funds and other institutional investors.

Hawaiian Electric Industries Stock Performance

Shares of HE traded down $0.81 during mid-day trading on Wednesday, reaching $15.36. 3,111,285 shares of the company’s stock traded hands, compared to its average volume of 3,117,417. The business’s 50-day moving average price is $11.69 and its 200-day moving average price is $11.60. The stock has a market capitalization of $1.69 billion, a P/E ratio of 9.09 and a beta of 0.57. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.11 and a current ratio of 0.11. Hawaiian Electric Industries, Inc. has a 12 month low of $7.61 and a 12 month high of $36.66.

Hawaiian Electric Industries (NYSE:HE) last posted its quarterly earnings data on Friday, May 10th. The utilities provider reported $0.45 EPS for the quarter. Hawaiian Electric Industries had a net margin of 5.16% and a return on equity of 9.58%. The business had revenue of $897.16 million for the quarter.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on HE shares. Evercore ISI increased their price target on Hawaiian Electric Industries from $11.00 to $16.00 and gave the company an “in-line” rating in a report on Monday. Wells Fargo & Company raised their price objective on Hawaiian Electric Industries from $8.50 to $9.00 and gave the stock an “underweight” rating in a research note on Monday, May 13th. Finally, StockNews.com downgraded shares of Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a research report on Tuesday, July 16th. Three research analysts have rated the stock with a sell rating and one has assigned a hold rating to the company’s stock. According to MarketBeat.com, Hawaiian Electric Industries has a consensus rating of “Reduce” and an average target price of $12.88.

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.