AlphaQuest LLC Trims Stake in Hawaiian Electric Industries, Inc. $HE

Key Points

• AlphaQuest LLC has significantly reduced its holdings in Hawaiian Electric Industries by 68.0%, now owning 10,329 shares valued at $113,000.
• Several institutional investors, such as Byrne Asset Management and US Bancorp DE, have increased their holdings in Hawaiian Electric Industries by rates ranging from 34.0% to 69.3% during the first quarter.
• Hawaiian Electric Industries reported earnings per share of $0.20 for the last quarter, missing estimates of $0.24, and has a current average target price of $11.94 with a consensus rating of "Hold."

AlphaQuest LLC decreased its holdings in shares of Hawaiian Electric Industries, Inc. (NYSE:HE - Free Report) by 68.0% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 10,329 shares of the utilities provider's stock after selling 21,921 shares during the period. AlphaQuest LLC's holdings in Hawaiian Electric Industries were worth $113,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in HE. Zimmer Partners LP raised its position in Hawaiian Electric Industries by 1.4% during the fourth quarter. Zimmer Partners LP now owns 15,202,552 shares of the utilities provider's stock valued at $147,921,000 after purchasing an additional 202,552 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Hawaiian Electric Industries by 6.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 3,687,636 shares of the utilities provider's stock valued at $40,380,000 after purchasing an additional 216,114 shares in the last quarter. Voloridge Investment Management LLC increased its holdings in shares of Hawaiian Electric Industries by 22.6% in the fourth quarter. Voloridge Investment Management LLC now owns 2,398,817 shares of the utilities provider's stock worth $23,340,000 after buying an additional 442,504 shares during the period. Two Sigma Investments LP increased its holdings in shares of 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 worth $19,885,000 after buying an additional 1,274,119 shares during the period. Finally, Northern Trust Corp increased its holdings in shares of Hawaiian Electric Industries by 7.9% in the fourth quarter. Northern Trust Corp now owns 1,530,418 shares of the utilities provider's stock worth $14,891,000 after buying an additional 111,698 shares during the period. Institutional investors own 59.91% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on HE. Wall Street Zen upgraded Hawaiian Electric Industries from a "sell" rating to a "hold" rating in a report on Monday, May 12th. Barclays decreased their price objective on 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. Finally, Jefferies Financial Group lifted their price objective on Hawaiian Electric Industries from $11.00 to $11.25 and gave the stock a "hold" rating in a report on Wednesday, May 28th. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $11.94.

Hawaiian Electric Industries Trading Down 0.7%

NYSE:HE traded down $0.09 during mid-day trading on Friday, reaching $12.29. 1,427,133 shares of the company's stock traded hands, compared to its average volume of 2,257,482. Hawaiian Electric Industries, Inc. has a 12-month low of $8.14 and a 12-month high of $13.41. The firm has a market capitalization of $2.12 billion, a price-to-earnings ratio of -12.16 and a beta of 0.69. The company has a debt-to-equity ratio of 1.52, a current ratio of 1.07 and a quick ratio of 1.07. The company has a 50 day moving average price of $11.29 and a 200-day moving average price of $10.82.

Hawaiian Electric Industries (NYSE:HE - Get Free Report) last posted its earnings results on Thursday, August 7th. The utilities provider reported $0.20 earnings per share for the quarter, missing analysts' consensus estimates 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 firm had revenue of $746.39 million for the quarter. On average, sell-side analysts predict that Hawaiian Electric Industries, Inc. will post 1.71 earnings per share for the current year.

About Hawaiian Electric Industries

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.