GAMMA Investing LLC Sells 3,048 Shares of Hawaiian Electric Industries, Inc. (NYSE:HE)

GAMMA Investing LLC lessened its position in shares of Hawaiian Electric Industries, Inc. (NYSE:HE) by 10.8% during the 1st quarter, HoldingsChannel reports. The fund owned 25,083 shares of the utilities provider’s stock after selling 3,048 shares during the quarter. GAMMA Investing LLC’s holdings in Hawaiian Electric Industries were worth $275,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Farther Finance Advisors LLC increased 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 valued at $38,000 after purchasing an additional 3,380 shares during the last quarter. Comerica Bank grew its position in shares of Hawaiian Electric Industries by 69.3% during the 4th quarter. Comerica Bank now owns 4,189 shares of the utilities provider’s stock worth $41,000 after buying an additional 1,715 shares during the period. Jones Financial Companies Lllp increased its stake in shares of Hawaiian Electric Industries by 63.9% in the 4th quarter. Jones Financial Companies Lllp now owns 4,844 shares of the utilities provider’s stock valued at $47,000 after acquiring an additional 1,889 shares during the last quarter. Sterling Capital Management LLC increased its stake in shares of Hawaiian Electric Industries by 816.0% in the 4th quarter. Sterling Capital Management LLC now owns 5,221 shares of the utilities provider’s stock valued at $51,000 after acquiring an additional 4,651 shares during the last quarter. Finally, Versant Capital Management Inc raised its position in shares of Hawaiian Electric Industries by 197.6% in the 1st quarter. Versant Capital Management Inc now owns 4,672 shares of the utilities provider’s stock valued at $51,000 after acquiring an additional 3,102 shares during the period. Institutional investors own 59.91% of the company’s stock.

Hawaiian Electric Industries Trading Down 3.5%

Hawaiian Electric Industries stock opened at $10.78 on Thursday. The stock has a 50-day simple moving average of $10.55 and a 200 day simple moving average of $10.22. The stock has a market capitalization of $1.86 billion, a P/E ratio of -0.84 and a beta of 0.64. The company has a debt-to-equity ratio of 1.77, a quick ratio of 1.25 and a current ratio of 1.25. Hawaiian Electric Industries, Inc. has a 52 week low of $7.61 and a 52 week high of $18.19.

Hawaiian Electric Industries (NYSE:HE) last issued its quarterly earnings data on Friday, May 9th. The utilities provider reported $0.23 earnings per share for the quarter, meeting the consensus estimate of $0.23. Hawaiian Electric Industries had a negative net margin of 42.60% and a positive return on equity of 12.59%. The company had revenue of $744.07 million for the quarter. During the same period in the previous year, the company earned $0.38 earnings per share. Analysts expect that Hawaiian Electric Industries, Inc. will post 1.71 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have commented on HE shares. Wall Street Zen raised shares of Hawaiian Electric Industries from a “sell” rating to a “hold” rating in a research note on Monday, May 12th. Jefferies Financial Group upped their price objective on shares of Hawaiian Electric Industries from $11.00 to $11.25 and gave the company a “hold” rating in a research report on Wednesday, May 28th. Finally, Evercore ISI raised Hawaiian Electric Industries from an “in-line” rating to an “outperform” rating and raised their price objective for the stock from $12.00 to $14.00 in a research note on Friday, March 7th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $12.19.

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.