Assenagon Asset Management S.A. Takes Position in Hawaiian Electric Industries, Inc. (NYSE:HE)

Assenagon Asset Management S.A. purchased a new stake in shares of Hawaiian Electric Industries, Inc. (NYSE:HE) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. 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 about 1.22% of Hawaiian Electric Industries at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of HE. AQR Capital Management LLC boosted its position in shares of Hawaiian Electric Industries by 1,470.8% during the 3rd quarter. AQR Capital Management LLC now owns 6,120,053 shares of the utilities provider’s stock valued at $75,338,000 after acquiring an additional 5,730,428 shares during the last quarter. Morgan Stanley boosted its position in shares of Hawaiian Electric Industries by 240.3% during the 3rd quarter. Morgan Stanley now owns 2,211,650 shares of the utilities provider’s stock valued at $27,225,000 after acquiring an additional 1,561,737 shares during the last quarter. Qube Research & Technologies Ltd boosted its position in shares of Hawaiian Electric Industries by 7,788.3% during the 3rd quarter. Qube Research & Technologies Ltd now owns 1,190,815 shares of the utilities provider’s stock valued at $14,659,000 after acquiring an additional 1,175,719 shares during the last quarter. Jupiter Asset Management Ltd. lifted its position in Hawaiian Electric Industries by 636.1% in the third quarter. Jupiter Asset Management Ltd. now owns 1,209,258 shares of the utilities provider’s stock valued at $14,886,000 after buying an additional 1,044,978 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in Hawaiian Electric Industries by 126.2% in the third quarter. JPMorgan Chase & Co. now owns 1,547,091 shares of the utilities provider’s stock valued at $19,045,000 after buying an additional 863,167 shares during the last quarter. Institutional investors and hedge funds own 59.91% of the company’s stock.

Hawaiian Electric Industries Trading Up 1.2 %

NYSE HE opened at $10.99 on Thursday. The firm’s 50-day moving average is $12.39 and its two-hundred day moving average is $12.89. Hawaiian Electric Industries, Inc. has a 12 month low of $9.06 and a 12 month high of $40.16. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.13 and a quick ratio of 0.13. The stock has a market capitalization of $1.21 billion, a P/E ratio of 6.07, a PEG ratio of 0.96 and a beta of 0.54.

Hawaiian Electric Industries (NYSE:HE) last posted its earnings results on Tuesday, February 13th. The utilities provider reported $0.48 EPS for the quarter, meeting analysts’ consensus estimates of $0.48. The company had revenue of $961.40 million for the quarter. Hawaiian Electric Industries had a net margin of 5.45% and a return on equity of 9.99%. The company’s quarterly revenue was down 5.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.52 EPS. On average, sell-side analysts anticipate that Hawaiian Electric Industries, Inc. will post 1.98 earnings per share for the current year.

Analysts Set New Price Targets

Separately, Evercore ISI upped their target price on shares of Hawaiian Electric Industries from $7.00 to $11.00 and gave the company an “in-line” rating in a research report 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. According to data from MarketBeat.com, the company has an average rating of “Reduce” and an average price target of $11.50.

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.