Voleon Capital Management LP Cuts Holdings in Hawaiian Electric Industries, Inc. $HE

Key Points

• Voleon Capital Management LP has significantly reduced its holdings in Hawaiian Electric Industries, Inc. by 87.2%, after selling 79,969 shares, leaving them with only 11,768 shares valued at $129,000.
• Several institutional investors, including the Manufacturers Life Insurance Company and Northern Trust Corp, have increased their stakes in Hawaiian Electric Industries, indicating a mix of sentiment among investors.
• Despite the reductions in holdings, the stock currently has an average target price of $11.94 and analysts maintain a consensus rating of "Hold" on Hawaiian Electric Industries.

Voleon Capital Management LP reduced its position in Hawaiian Electric Industries, Inc. (NYSE:HE - Free Report) by 87.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,768 shares of the utilities provider's stock after selling 79,969 shares during the quarter. Voleon Capital Management LP's holdings in Hawaiian Electric Industries were worth $129,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of HE. The Manufacturers Life Insurance Company grew its holdings in Hawaiian Electric Industries by 41.9% in the fourth quarter. The Manufacturers Life Insurance Company now owns 82,070 shares of the utilities provider's stock worth $799,000 after purchasing an additional 24,247 shares during the last quarter. Northern Trust Corp grew its holdings in Hawaiian Electric Industries by 7.9% in the fourth quarter. Northern Trust Corp now owns 1,530,418 shares of the utilities provider's stock worth $14,891,000 after purchasing an additional 111,698 shares during the last quarter. Comerica Bank grew its holdings in Hawaiian Electric Industries by 69.3% in the fourth quarter. Comerica Bank now owns 4,189 shares of the utilities provider's stock worth $41,000 after purchasing an additional 1,715 shares during the last quarter. Mercer Global Advisors Inc. ADV purchased a new position in Hawaiian Electric Industries in the fourth quarter worth $107,000. Finally, Ameriprise Financial Inc. grew its holdings in Hawaiian Electric Industries by 31.7% in the fourth quarter. Ameriprise Financial Inc. now owns 19,318 shares of the utilities provider's stock worth $188,000 after purchasing an additional 4,649 shares during the last quarter. 59.91% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have issued reports on HE shares. Barclays cut their price target on shares of Hawaiian Electric Industries from $11.00 to $10.00 and set an "equal weight" rating on the stock in a report on Thursday, July 10th. Jefferies Financial Group lifted their price target on shares of Hawaiian Electric Industries from $11.00 to $11.25 and gave the stock a "hold" rating in a report on Wednesday, May 28th. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $11.94.

Hawaiian Electric Industries Trading Up 1.5%

NYSE:HE opened at $12.03 on Thursday. Hawaiian Electric Industries, Inc. has a 12 month low of $8.14 and a 12 month high of $13.41. The firm has a fifty day simple moving average of $11.35 and a 200-day simple moving average of $10.84. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 1.52. The company has a market capitalization of $2.08 billion, a P/E ratio of -11.91 and a beta of 0.69.

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

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