Voleon Capital Management LP Sells 79,969 Shares of 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 cut its holdings in Hawaiian Electric Industries, Inc. (NYSE:HE - Free Report) by 87.2% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor 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.

Other institutional investors and hedge funds have also bought and sold shares of the company. Allworth Financial LP grew its position in shares of Hawaiian Electric Industries by 379.3% in the 1st quarter. Allworth Financial LP now owns 2,574 shares of the utilities provider's stock valued at $27,000 after buying an additional 2,037 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in Hawaiian Electric Industries by 3,797.8% in the first quarter. Farther Finance Advisors LLC now owns 3,469 shares of the utilities provider's stock worth $38,000 after purchasing an additional 3,380 shares during the period. Comerica Bank increased its position in Hawaiian Electric Industries by 69.3% in the 4th quarter. Comerica Bank now owns 4,189 shares of the utilities provider's stock valued at $41,000 after buying an additional 1,715 shares in the last quarter. Byrne Asset Management LLC increased its holdings in shares of Hawaiian Electric Industries by 34.0% during the first quarter. Byrne Asset Management LLC now owns 3,887 shares of the utilities provider's stock valued at $43,000 after acquiring an additional 987 shares in the last quarter. Finally, US Bancorp DE increased its stake in Hawaiian Electric Industries by 51.2% during the 1st quarter. US Bancorp DE now owns 4,293 shares of the utilities provider's stock valued at $47,000 after purchasing an additional 1,453 shares in the last quarter. Institutional investors and hedge funds own 59.91% of the company's stock.

Analyst Upgrades and Downgrades

HE has been the subject of a number of analyst reports. Barclays lowered their price target on Hawaiian Electric Industries from $11.00 to $10.00 and set an "equal weight" rating for the company in a research report on Thursday, July 10th. Jefferies Financial Group increased their price objective on Hawaiian Electric Industries from $11.00 to $11.25 and gave the company a "hold" rating in a report on Wednesday, May 28th. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, Hawaiian Electric Industries presently has an average rating of "Hold" and a consensus target price of $11.94.

Hawaiian Electric Industries Trading Down 0.7%

Hawaiian Electric Industries stock traded down $0.08 during mid-day trading on Tuesday, hitting $12.10. The company's stock had a trading volume of 1,291,302 shares, compared to its average volume of 2,058,229. The stock has a market cap of $2.09 billion, a price-to-earnings ratio of -11.98 and a beta of 0.69. Hawaiian Electric Industries, Inc. has a 12 month low of $8.14 and a 12 month high of $13.41. The business has a 50 day moving average price of $11.45 and a 200-day moving average price of $10.88. The company has a debt-to-equity ratio of 1.52, a current ratio of 1.07 and a quick ratio of 1.07.

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