Graham Capital Management L.P. Has $1.16 Million Stock Position in Hawaiian Electric Industries, Inc. $HE

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 position in Hawaiian Electric Industries, Inc. (NYSE:HE - Free Report) by 216.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 105,966 shares of the utilities provider's stock after buying an additional 72,528 shares during the quarter. Graham Capital Management L.P. owned approximately 0.06% of Hawaiian Electric Industries worth $1,160,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Two Sigma Investments LP lifted its holdings in Hawaiian Electric Industries by 165.6% in the fourth quarter. Two Sigma Investments LP now owns 2,043,726 shares of the utilities provider's stock valued at $19,885,000 after acquiring an additional 1,274,119 shares during the period. Mad River Investors increased its position in Hawaiian Electric Industries by 910.7% during the 1st quarter. Mad River Investors now owns 1,215,900 shares of the utilities provider's stock worth $13,314,000 after purchasing an additional 1,095,600 shares in the last quarter. Congress Asset Management Co. purchased a new stake in shares of Hawaiian Electric Industries during the 1st quarter worth about $8,359,000. Foundry Partners LLC purchased a new stake in shares of Hawaiian Electric Industries during the 1st quarter worth about $6,905,000. Finally, Jefferies Financial Group Inc. purchased a new stake in shares of Hawaiian Electric Industries during the 4th quarter worth about $5,680,000. Hedge funds and other institutional investors own 59.91% of the company's stock.

Hawaiian Electric Industries Stock Performance

Shares of HE stock traded up $0.04 during trading hours on Tuesday, reaching $11.92. 737,844 shares of the company's stock were exchanged, compared to its average volume of 2,295,268. Hawaiian Electric Industries, Inc. has a fifty-two week low of $8.14 and a fifty-two week high of $13.41. The stock has a market capitalization of $2.06 billion, a P/E ratio of -11.79 and a beta of 0.69. The business has a fifty day moving average price of $11.31 and a 200-day moving average price of $10.83. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 1.52.

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

Analyst Upgrades and Downgrades

HE has been the subject of a number of analyst reports. Wall Street Zen upgraded Hawaiian Electric Industries from a "sell" rating to a "hold" rating in a report on Monday, May 12th. Barclays dropped their target price on Hawaiian Electric Industries from $11.00 to $10.00 and set an "equal weight" rating on the stock in a research report on Thursday, July 10th. Finally, Jefferies Financial Group raised their price target on Hawaiian Electric Industries from $11.00 to $11.25 and gave the company a "hold" rating in a report on Wednesday, May 28th. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $11.94.

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.