PDT Partners LLC Buys Shares of 179,513 Hawaiian Electric Industries, Inc. $HE

Key Points

• PDT Partners LLC has made a significant investment of approximately $1.97 million in Hawaiian Electric Industries, acquiring 179,513 shares during the first quarter.
• Several other institutional investors have also increased their stakes in Hawaiian Electric, including Allworth Financial LP, which raised its position by 379.3%.
• Hawaiian Electric reported earnings of $0.20 per share, missing analysts' expectations, and is currently rated as a "Hold" by several research firms.

PDT Partners LLC bought a new position in Hawaiian Electric Industries, Inc. (NYSE:HE - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 179,513 shares of the utilities provider's stock, valued at approximately $1,966,000. PDT Partners LLC owned approximately 0.10% of Hawaiian Electric Industries as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of HE. Raymond James Financial Inc. acquired a new position in shares of Hawaiian Electric Industries during the fourth quarter valued at about $342,000. Dimensional Fund Advisors LP increased its holdings in shares of Hawaiian Electric Industries by 13.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,052,117 shares of the utilities provider's stock valued at $10,237,000 after acquiring an additional 126,614 shares in the last quarter. Hsbc Holdings PLC increased its holdings in shares of Hawaiian Electric Industries by 88.4% during the fourth quarter. Hsbc Holdings PLC now owns 64,476 shares of the utilities provider's stock valued at $633,000 after acquiring an additional 30,244 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Hawaiian Electric Industries by 18.5% during 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 acquiring an additional 21,873 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of Hawaiian Electric Industries by 41.9% during the fourth quarter. The Manufacturers Life Insurance Company now owns 82,070 shares of the utilities provider's stock valued at $799,000 after acquiring an additional 24,247 shares in the last quarter. Institutional investors and hedge funds own 59.91% of the company's stock.

Analyst Upgrades and Downgrades

HE has been the topic of several recent analyst reports. Jefferies Financial Group upped their price objective on shares of Hawaiian Electric Industries from $11.00 to $11.25 and gave the company a "hold" rating in a report on Wednesday, May 28th. 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, Wall Street Zen upgraded Hawaiian Electric Industries from a "sell" rating to a "hold" rating in a research report on Monday, May 12th. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Hawaiian Electric Industries has an average rating of "Hold" and a consensus target price of $11.94.

Hawaiian Electric Industries Stock Performance

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

Hawaiian Electric Industries (NYSE:HE - Get Free Report) last released its quarterly earnings data 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 positive return on equity of 10.76% and a negative net margin of 3.66%.The company had revenue of $746.39 million during the quarter. Equities research analysts predict that Hawaiian Electric Industries, Inc. will post 1.71 EPS for the current year.

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.