Assenagon Asset Management S.A. Invests $19.02 Million in Hawaiian Electric Industries, Inc. (NYSE:HE)

Assenagon Asset Management S.A. purchased a new stake in Hawaiian Electric Industries, Inc. (NYSE:HE - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 1,340,000 shares of the utilities provider's stock, valued at approximately $19,015,000. Assenagon Asset Management S.A. owned approximately 1.22% of Hawaiian Electric Industries as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Lazard Asset Management LLC acquired a new position in Hawaiian Electric Industries during the second quarter worth about $34,000. MUFG Americas Holdings Corp acquired a new position in Hawaiian Electric Industries during the third quarter worth about $39,000. UMB Bank n.a. acquired a new position in Hawaiian Electric Industries during the third quarter worth about $27,000. Newbridge Financial Services Group Inc. acquired a new position in Hawaiian Electric Industries during the third quarter worth about $35,000. Finally, Perkins Coie Trust Co acquired a new position in Hawaiian Electric Industries during the third quarter worth about $36,000. Institutional investors and hedge funds own 59.91% of the company's stock.

Analyst Ratings Changes

Separately, Evercore ISI boosted their target price on Hawaiian Electric Industries from $7.00 to $11.00 and gave the stock an "in-line" rating in a research note on Thursday, February 15th. Three equities research analysts have rated the stock with a sell rating and one has given a hold rating to the company's stock. Based on data from MarketBeat.com, Hawaiian Electric Industries presently has a consensus rating of "Reduce" and an average target price of $11.50.

Hawaiian Electric Industries Trading Up 2.5 %

HE stock traded up $0.28 during trading on Thursday, hitting $11.27. The company had a trading volume of 2,097,370 shares, compared to its average volume of 2,322,334. The business has a 50-day moving average of $12.35 and a 200-day moving average of $12.88. Hawaiian Electric Industries, Inc. has a one year low of $9.06 and a one year high of $40.16. The stock has a market cap of $1.24 billion, a PE ratio of 6.23, a PEG ratio of 0.95 and a beta of 0.54. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 1.21.

Hawaiian Electric Industries (NYSE:HE - Get Free Report) last posted its quarterly earnings results on Tuesday, February 13th. The utilities provider reported $0.48 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.48. The firm had revenue of $961.40 million for the quarter. Hawaiian Electric Industries had a return on equity of 9.99% and a net margin of 5.45%. Hawaiian Electric Industries's quarterly revenue was down 5.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.52 earnings per share. Research analysts predict that Hawaiian Electric Industries, Inc. will post 1.98 earnings per share for the current fiscal year.

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.