Nuveen Asset Management LLC bought a new position in shares of Hawaiian Electric Industries, Inc. (NYSE:HE) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 247,687 shares of the utilities provider’s stock, valued at approximately $10,786,000. Nuveen Asset Management LLC owned 0.23% of Hawaiian Electric Industries at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of HE. Personal Wealth Partners bought a new position in shares of Hawaiian Electric Industries in the 2nd quarter worth $48,000. Flagship Harbor Advisors LLC increased its holdings in shares of Hawaiian Electric Industries by 153.7% in the 2nd quarter. Flagship Harbor Advisors LLC now owns 1,139 shares of the utilities provider’s stock worth $49,000 after buying an additional 690 shares during the last quarter. Westside Investment Management Inc. bought a new position in shares of Hawaiian Electric Industries in the 2nd quarter worth $52,000. CWM LLC boosted its stake in shares of Hawaiian Electric Industries by 40.0% in the 2nd quarter. CWM LLC now owns 1,329 shares of the utilities provider’s stock valued at $58,000 after purchasing an additional 380 shares in the last quarter. Finally, Point72 Hong Kong Ltd purchased a new stake in shares of Hawaiian Electric Industries in the 2nd quarter valued at $62,000. 54.12% of the stock is currently owned by institutional investors and hedge funds.
Shares of Hawaiian Electric Industries stock opened at $44.91 on Friday. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.08 and a quick ratio of 0.08. The company has a 50-day moving average of $44.65 and a 200 day moving average of $43.22. The firm has a market cap of $4.89 billion, a price-to-earnings ratio of 24.28, a PEG ratio of 5.69 and a beta of 0.22. Hawaiian Electric Industries, Inc. has a 1 year low of $34.88 and a 1 year high of $45.96.
HE has been the subject of a number of research reports. ValuEngine cut shares of Hawaiian Electric Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. JPMorgan Chase & Co. cut shares of Hawaiian Electric Industries from a “neutral” rating to an “underweight” rating and upped their price objective for the company from $37.00 to $38.00 in a research note on Friday, August 9th. UBS Group upped their price objective on shares of Hawaiian Electric Industries from $35.00 to $37.00 and gave the company a “sell” rating in a research note on Friday, September 13th. Finally, Zacks Investment Research raised shares of Hawaiian Electric Industries from a “sell” rating to a “hold” rating and set a $47.00 price objective for the company in a research note on Wednesday. Three research analysts have rated the stock with a sell rating and two have given a hold rating to the company. The stock has a consensus rating of “Sell” and an average target price of $39.00.
In other Hawaiian Electric Industries news, Director Jeffrey N. Watanabe sold 5,700 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $44.21, for a total transaction of $251,997.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Micah A. Kane sold 2,800 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $44.60, for a total transaction of $124,880.00. The disclosure for this sale can be found here. 0.94% of the stock is currently owned by company insiders.
Hawaiian Electric Industries Company Profile
Hawaiian Electric Industries, Inc, through its subsidiaries, engages in the electric utility and banking businesses primarily in the state of Hawaii. The company's Electric Utility segment is involved in generating, purchasing, transmitting, distributing, and selling electric energy. Its renewable energy sources and potential sources include wind, solar, photovoltaic, geothermal, wave, hydroelectric, municipal waste, and other bio fuels.
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