Nuveen Asset Management LLC Lowers Stake in Hawaiian Electric Industries, Inc. (NYSE:HE)

Nuveen Asset Management LLC reduced its stake in Hawaiian Electric Industries, Inc. (NYSE:HE) by 20.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 32,331 shares of the utilities provider’s stock after selling 8,202 shares during the period. Nuveen Asset Management LLC’s holdings in Hawaiian Electric Industries were worth $1,077,000 as of its most recent filing with the SEC.

Other large investors have also recently modified their holdings of the company. Envestnet Asset Management Inc. boosted its stake in shares of Hawaiian Electric Industries by 25.9% in the fourth quarter. Envestnet Asset Management Inc. now owns 3,057 shares of the utilities provider’s stock valued at $101,000 after buying an additional 628 shares in the last quarter. Airain ltd purchased a new stake in shares of Hawaiian Electric Industries during the first quarter valued at $203,000. NTV Asset Management LLC purchased a new stake in shares of Hawaiian Electric Industries during the first quarter valued at $209,000. World Asset Management Inc boosted its stake in shares of Hawaiian Electric Industries by 2.0% in the first quarter. World Asset Management Inc now owns 6,723 shares of the utilities provider’s stock valued at $224,000 after buying an additional 135 shares in the last quarter. Finally, State of Alaska Department of Revenue boosted its stake in shares of Hawaiian Electric Industries by 4.7% in the first quarter. State of Alaska Department of Revenue now owns 6,823 shares of the utilities provider’s stock valued at $227,000 after buying an additional 306 shares in the last quarter. Institutional investors and hedge funds own 48.28% of the company’s stock.

Shares of Hawaiian Electric Industries, Inc. (HE) opened at 32.76 on Friday. The stock has a market capitalization of $3.56 billion, a PE ratio of 14.26 and a beta of 0.45. Hawaiian Electric Industries, Inc. has a one year low of $28.31 and a one year high of $34.08. The firm has a 50 day moving average price of $32.86 and a 200 day moving average price of $33.12.

Hawaiian Electric Industries (NYSE:HE) last issued its quarterly earnings data on Friday, May 5th. The utilities provider reported $0.31 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.29 by $0.02. Hawaiian Electric Industries had a return on equity of 9.35% and a net margin of 10.41%. The business had revenue of $591.56 million during the quarter, compared to analysts’ expectations of $555.45 million. Analysts predict that Hawaiian Electric Industries, Inc. will post $1.64 earnings per share for the current fiscal year.

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Several equities research analysts have weighed in on HE shares. BidaskClub cut Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a report on Tuesday, June 27th. Zacks Investment Research cut Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a report on Friday, May 26th. Finally, Barclays PLC reiterated an “underweight” rating and issued a $29.00 target price (up from $27.00) on shares of Hawaiian Electric Industries in a report on Sunday, April 23rd.

About Hawaiian Electric Industries

Hawaiian Electric Industries, Inc is a holding company with its principal subsidiaries engaged in electric utility and banking businesses operating primarily in the State of Hawaii. The Company’s subsidiaries include Hawaiian Electric Company, Inc (Hawaiian Electric) and ASB Hawaii, Inc (ASB Hawaii).

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Institutional Ownership by Quarter for Hawaiian Electric Industries (NYSE:HE)

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