Graham Capital Management L.P. Takes Position in Hawaiian Electric Industries, Inc. (NYSE:HE)

Graham Capital Management L.P. bought a new stake in shares of Hawaiian Electric Industries, Inc. (NYSE:HE - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 33,438 shares of the utilities provider's stock, valued at approximately $325,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Ensign Peak Advisors Inc boosted its stake in shares of Hawaiian Electric Industries by 50.2% during the 4th quarter. Ensign Peak Advisors Inc now owns 75,298 shares of the utilities provider's stock valued at $733,000 after buying an additional 25,150 shares during the last quarter. Deutsche Bank AG boosted its stake in shares of Hawaiian Electric Industries by 139.2% during the 4th quarter. Deutsche Bank AG now owns 687,406 shares of the utilities provider's stock valued at $6,688,000 after buying an additional 400,002 shares during the last quarter. Eagle Global Advisors LLC boosted its stake in shares of Hawaiian Electric Industries by 13.2% during the 4th quarter. Eagle Global Advisors LLC now owns 1,166,481 shares of the utilities provider's stock valued at $11,350,000 after buying an additional 135,861 shares during the last quarter. Corton Capital Inc. boosted its stake in shares of Hawaiian Electric Industries by 37.1% during the 4th quarter. Corton Capital Inc. now owns 20,257 shares of the utilities provider's stock valued at $197,000 after buying an additional 5,477 shares during the last quarter. Finally, Bridgefront Capital LLC lifted its stake in Hawaiian Electric Industries by 14.4% during the fourth quarter. Bridgefront Capital LLC now owns 29,883 shares of the utilities provider's stock worth $291,000 after purchasing an additional 3,760 shares during the last quarter. 59.91% of the stock is currently owned by hedge funds and other institutional investors.

Hawaiian Electric Industries Stock Performance

HE stock traded up $0.07 during mid-day trading on Friday, reaching $10.62. The company had a trading volume of 1,047,490 shares, compared to its average volume of 3,425,573. The company has a quick ratio of 0.18, a current ratio of 0.18 and a debt-to-equity ratio of 1.80. The stock has a market capitalization of $1.83 billion, a P/E ratio of -0.90 and a beta of 0.64. Hawaiian Electric Industries, Inc. has a one year low of $7.61 and a one year high of $18.19. The stock's 50-day simple moving average is $10.44 and its two-hundred day simple moving average is $10.18.

Hawaiian Electric Industries (NYSE:HE - Get Free Report) last posted its earnings results on Friday, May 9th. The utilities provider reported $0.23 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.23. The company had revenue of $744.07 million for the quarter. Hawaiian Electric Industries had a positive return on equity of 11.12% and a negative net margin of 35.38%. During the same quarter in the previous year, the business posted $0.38 earnings per share. Research analysts anticipate that Hawaiian Electric Industries, Inc. will post 1.71 EPS for the current year.

Analyst Ratings Changes

Several equities analysts recently issued reports on HE shares. Wells Fargo & Company raised their price objective on Hawaiian Electric Industries from $11.00 to $12.50 and gave the stock an "equal weight" rating in a research note on Thursday, February 27th. Evercore ISI upgraded 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. Barclays raised their price objective on Hawaiian Electric Industries from $10.00 to $11.00 and gave the stock an "equal weight" rating in a research note on Tuesday, March 4th. Finally, Wall Street Zen upgraded Hawaiian Electric Industries from a "sell" rating to a "hold" rating in a research note on Monday, May 12th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $12.00.

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.