Hawaiian Electric Industries, Inc. $HE Stake Cut by Voya Investment Management LLC

Key Points

• Voya Investment Management LLC has reduced its stake in Hawaiian Electric Industries by 48.0%, owning 205,519 shares after selling 189,841 shares in the first quarter.
• Several other institutional investors, including Allworth Financial and Farther Finance Advisors, significantly increased their positions in Hawaiian Electric Industries, showcasing varied investor confidence.
• Barclays lowered its target price for Hawaiian Electric Industries from $11.00 to $10.00, reflecting a cautious outlook despite one analyst rating it as a Buy and three as a Hold.

Voya Investment Management LLC lowered its position in Hawaiian Electric Industries, Inc. (NYSE:HE - Free Report) by 48.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 205,519 shares of the utilities provider's stock after selling 189,841 shares during the quarter. Voya Investment Management LLC owned 0.12% of Hawaiian Electric Industries worth $2,250,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Mad River Investors lifted its holdings in Hawaiian Electric Industries by 910.7% in the 1st quarter. Mad River Investors now owns 1,215,900 shares of the utilities provider's stock valued at $13,314,000 after purchasing an additional 1,095,600 shares in the last quarter. Congress Asset Management Co. acquired a new position in shares of Hawaiian Electric Industries in the first quarter valued at approximately $8,359,000. Foundry Partners LLC purchased a new position in shares of Hawaiian Electric Industries during the first quarter valued at approximately $6,905,000. Jefferies Financial Group Inc. acquired a new stake in Hawaiian Electric Industries during the fourth quarter worth approximately $5,680,000. Finally, Nuveen LLC acquired a new stake in Hawaiian Electric Industries during the first quarter worth approximately $5,895,000. Institutional investors and hedge funds own 59.91% of the company's stock.

Analysts Set New Price Targets

Several brokerages have weighed in on HE. Jefferies Financial Group boosted their price target on Hawaiian Electric Industries from $11.00 to $11.25 and gave the company a "hold" rating in a report on Wednesday, May 28th. Barclays dropped their target price on Hawaiian Electric Industries from $11.00 to $10.00 and set an "equal weight" rating for the company in a research note on Thursday, July 10th. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $11.94.

Hawaiian Electric Industries Stock Down 2.2%

Shares of NYSE HE traded down $0.26 during midday trading on Monday, reaching $11.55. 2,172,097 shares of the company's stock were exchanged, compared to its average volume of 2,060,280. The company has a debt-to-equity ratio of 1.52, a quick ratio of 1.07 and a current ratio of 1.07. Hawaiian Electric Industries, Inc. has a 52-week low of $8.14 and a 52-week high of $13.41. The business's fifty day moving average price is $11.55 and its two-hundred day moving average price is $10.91. The stock has a market capitalization of $1.99 billion, a PE ratio of -11.44 and a beta of 0.69.

Hawaiian Electric Industries (NYSE:HE - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The utilities provider reported $0.20 earnings per share for the quarter, missing analysts' consensus estimates of $0.24 by ($0.04). Hawaiian Electric Industries had a negative net margin of 3.66% and a positive return on equity of 10.76%. The business had revenue of $746.39 million for the quarter. Analysts forecast that Hawaiian Electric Industries, Inc. will post 1.71 EPS for the current year.

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.