Olympiad Research LP Decreases Stock Holdings in Hawaiian Electric Industries, Inc. (NYSE:HE)

Olympiad Research LP cut its stake in shares of Hawaiian Electric Industries, Inc. (NYSE:HE) by 54.2% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 10,793 shares of the utilities provider’s stock after selling 12,798 shares during the period. Olympiad Research LP’s holdings in Hawaiian Electric Industries were worth $104,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in HE. Abich Financial Wealth Management LLC boosted its stake in Hawaiian Electric Industries by 54.4% during the 1st quarter. Abich Financial Wealth Management LLC now owns 3,226 shares of the utilities provider’s stock worth $36,000 after purchasing an additional 1,137 shares during the last quarter. IMS Capital Management lifted its position in Hawaiian Electric Industries by 2.5% in the second quarter. IMS Capital Management now owns 51,957 shares of the utilities provider’s stock valued at $469,000 after buying an additional 1,257 shares during the last quarter. CANADA LIFE ASSURANCE Co boosted its stake in Hawaiian Electric Industries by 17.0% during the first quarter. CANADA LIFE ASSURANCE Co now owns 12,172 shares of the utilities provider’s stock worth $137,000 after buying an additional 1,766 shares during the period. Signaturefd LLC increased its holdings in Hawaiian Electric Industries by 30.8% in the 2nd quarter. Signaturefd LLC now owns 8,437 shares of the utilities provider’s stock valued at $76,000 after purchasing an additional 1,986 shares during the last quarter. Finally, Van ECK Associates Corp grew its stake in shares of Hawaiian Electric Industries by 9.5% in the second quarter. Van ECK Associates Corp now owns 28,481 shares of the utilities provider’s stock valued at $257,000 after buying an additional 2,482 shares in the last quarter. 59.91% of the stock is owned by hedge funds and other institutional investors.

Hawaiian Electric Industries Trading Up 0.5 %

Shares of NYSE:HE opened at $10.64 on Friday. The company has a debt-to-equity ratio of 2.62, a quick ratio of 0.11 and a current ratio of 0.11. The firm has a 50 day simple moving average of $10.44 and a 200-day simple moving average of $11.15. Hawaiian Electric Industries, Inc. has a twelve month low of $7.61 and a twelve month high of $18.19.

Hawaiian Electric Industries (NYSE:HE) last announced its earnings results on Friday, August 9th. The utilities provider reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.05). Hawaiian Electric Industries had a positive return on equity of 10.69% and a negative net margin of 31.76%. The business had revenue of $792.30 million for the quarter. The business’s revenue for the quarter was down .2% compared to the same quarter last year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on HE shares. Evercore ISI cut their target price on shares of Hawaiian Electric Industries from $16.00 to $9.00 and set an “in-line” rating on the stock in a research note on Tuesday, September 24th. StockNews.com lowered Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a report on Friday, October 4th. Finally, Wells Fargo & Company decreased their price target on Hawaiian Electric Industries from $14.00 to $11.50 and set an “equal weight” rating for the company in a report on Monday, September 30th.

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.