Trexquant Investment LP Acquires 277,426 Shares of Hawaiian Electric Industries, Inc. $HE

Key Points

• Trexquant Investment LP significantly increased its position in Hawaiian Electric Industries by 593.7% in the first quarter, now owning approximately 0.19% of the company valued at $3.55 million.
• Hawaiian Electric Industries' stock is currently priced at $12.26, showing a 5.4% decline, with a market cap of $2.12 billion and a negative PE ratio of -12.13.
• Despite the recent earnings miss, several Wall Street analysts have given the stock a consensus “Hold” rating, with a price target averaging $11.94.

Trexquant Investment LP grew its position in shares of Hawaiian Electric Industries, Inc. (NYSE:HE - Free Report) by 593.7% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 324,158 shares of the utilities provider's stock after buying an additional 277,426 shares during the quarter. Trexquant Investment LP owned 0.19% of Hawaiian Electric Industries worth $3,550,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of HE. Two Sigma Investments LP lifted its position in shares of Hawaiian Electric Industries by 165.6% during the 4th 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 in the last quarter. Mad River Investors grew its position in shares of 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 valued at $13,314,000 after acquiring an additional 1,095,600 shares during the period. Congress Asset Management Co. bought a new position in shares of Hawaiian Electric Industries during the 1st quarter valued at approximately $8,359,000. Foundry Partners LLC bought a new position in shares of Hawaiian Electric Industries during the 1st quarter valued at approximately $6,905,000. Finally, Jefferies Financial Group Inc. bought a new stake in shares of Hawaiian Electric Industries in the 4th quarter worth approximately $5,680,000. Institutional investors own 59.91% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Jefferies Financial Group lifted their price target on shares of Hawaiian Electric Industries from $11.00 to $11.25 and gave the stock a "hold" rating in a report on Wednesday, May 28th. Barclays lowered their price target 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. Finally, Wall Street Zen raised shares of Hawaiian Electric Industries from a "sell" rating to a "hold" rating in a report on Monday, May 12th. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $11.94.

Hawaiian Electric Industries Stock Performance

HE stock traded down $0.09 during midday 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. The company has a 50-day moving average price of $11.29 and a two-hundred day moving average price of $10.82. The company has a debt-to-equity ratio of 1.52, a quick ratio of 1.07 and a current ratio of 1.07. Hawaiian Electric Industries, Inc. has a 52 week low of $8.14 and a 52 week high of $13.41. The firm has a market capitalization of $2.12 billion, a PE ratio of -12.16 and a beta of 0.69.

Hawaiian Electric Industries (NYSE:HE - Get Free Report) last issued its earnings results on Thursday, August 7th. The utilities provider reported $0.20 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 business had revenue of $746.39 million for the quarter. As a group, equities analysts anticipate that Hawaiian Electric Industries, Inc. will post 1.71 EPS 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.