Hawaiian Electric Industries, Inc. $HE Shares Acquired by Graham Capital Management L.P.

Key Points

• Graham Capital Management L.P. increased its stake in Hawaiian Electric Industries by 216.9%, now owning 105,966 shares worth approximately $1.16 million.
• Several other institutional investors, including Janney Montgomery Scott LLC and Cambridge Investment Research Advisors Inc., also significantly boosted their holdings in Hawaiian Electric Industries during the first quarter.
• The company's stock price opened at $12.42, with a market cap of $2.14 billion, and reported earnings per share of $0.20 in its last quarterly earnings announcement, missing analysts' expectations.

Graham Capital Management L.P. raised its stake in Hawaiian Electric Industries, Inc. (NYSE:HE - Free Report) by 216.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 105,966 shares of the utilities provider's stock after purchasing an additional 72,528 shares during the period. Graham Capital Management L.P. owned 0.06% of Hawaiian Electric Industries worth $1,160,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Raymond James Financial Inc. acquired a new stake in shares of Hawaiian Electric Industries during the 4th quarter worth about $342,000. Dimensional Fund Advisors LP boosted its position in shares of Hawaiian Electric Industries by 13.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,052,117 shares of the utilities provider's stock worth $10,237,000 after buying an additional 126,614 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in Hawaiian Electric Industries by 18.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 139,848 shares of the utilities provider's stock valued at $1,361,000 after purchasing an additional 21,873 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Hawaiian Electric Industries by 41.9% during the 4th quarter. The Manufacturers Life Insurance Company now owns 82,070 shares of the utilities provider's stock worth $799,000 after purchasing an additional 24,247 shares during the period. Finally, Northern Trust Corp increased its position in Hawaiian Electric Industries by 7.9% in the 4th quarter. Northern Trust Corp now owns 1,530,418 shares of the utilities provider's stock valued at $14,891,000 after acquiring an additional 111,698 shares during the period. 59.91% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Wall Street Zen upgraded Hawaiian Electric Industries from a "sell" rating to a "hold" rating in a research note on Monday, May 12th. Jefferies Financial Group boosted 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, Barclays dropped their price objective on shares of Hawaiian Electric Industries from $11.00 to $10.00 and set an "equal weight" rating on the stock in a report on Thursday, July 10th. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $11.94.

Hawaiian Electric Industries Price Performance

Hawaiian Electric Industries stock traded down $0.41 during midday trading on Monday, reaching $11.91. The company's stock had a trading volume of 1,372,512 shares, compared to its average volume of 2,297,356. The firm has a market capitalization of $2.05 billion, a PE ratio of -11.80 and a beta of 0.69. Hawaiian Electric Industries, Inc. has a fifty-two week low of $8.14 and a fifty-two week high of $13.41. The company has a debt-to-equity ratio of 1.52, a quick ratio of 1.07 and a current ratio of 1.07. The stock's 50 day simple moving average is $11.29 and its 200 day simple moving average is $10.82.

Hawaiian Electric Industries (NYSE:HE - Get Free Report) last announced its earnings results on Thursday, August 7th. The utilities provider reported $0.20 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.04). Hawaiian Electric Industries had a negative net margin of 3.66% and a positive return on equity of 10.76%. The company had revenue of $746.39 million for the quarter. On average, equities research analysts forecast that Hawaiian Electric Industries, Inc. will post 1.71 earnings per share for the current year.

Hawaiian Electric Industries Company 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.