Zimmer Partners LP Has $146.58 Million Holdings in Hawaiian Electric Industries, Inc. $HE

Key Points

• Zimmer Partners LP reduced its holdings in Hawaiian Electric Industries by 11.9%, now owning approximately 13.4 million shares, making it one of the company's largest institutional investors.
• Several other large investors also increased their stakes in Hawaiian Electric Industries, with Janney Montgomery Scott LLC raising its position by 269.7% in the same quarter.
• Hawaiian Electric Industries saw its stock price drop by 3.5% and reported a negative net margin of 3.66%, while earnings per share missed estimates.

Zimmer Partners LP cut its position in Hawaiian Electric Industries, Inc. (NYSE:HE - Free Report) by 11.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,385,992 shares of the utilities provider's stock after selling 1,816,560 shares during the period. Hawaiian Electric Industries accounts for about 2.8% of Zimmer Partners LP's investment portfolio, making the stock its 8th biggest position. Zimmer Partners LP owned 7.76% of Hawaiian Electric Industries worth $146,577,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its position in Hawaiian Electric Industries by 6.2% in 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 buying an additional 216,114 shares in the last quarter. Voloridge Investment Management LLC boosted its position in 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 valued at $23,340,000 after buying an additional 442,504 shares in the last quarter. Two Sigma Investments LP boosted its position 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 buying an additional 1,274,119 shares in the last quarter. Northern Trust Corp boosted its position in 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 valued at $14,891,000 after buying an additional 111,698 shares in the last quarter. Finally, Eagle Global Advisors LLC boosted its position in Hawaiian Electric Industries by 7.3% in the first quarter. Eagle Global Advisors LLC now owns 1,251,904 shares of the utilities provider's stock valued at $13,708,000 after buying an additional 85,423 shares in the last quarter. 59.91% of the stock is currently owned by institutional investors and hedge funds.

Hawaiian Electric Industries Price Performance

Shares of NYSE HE traded down $0.04 during trading on Friday, reaching $12.11. The company had a trading volume of 1,115,857 shares, compared to its average volume of 2,077,592. Hawaiian Electric Industries, Inc. has a 52 week low of $8.14 and a 52 week high of $13.41. The stock has a market cap of $2.09 billion, a PE ratio of -11.99 and a beta of 0.69. The company has a debt-to-equity ratio of 1.52, a quick ratio of 1.07 and a current ratio of 1.07. The business's 50 day moving average price is $11.40 and its 200-day moving average price is $10.86.

Hawaiian Electric Industries (NYSE:HE - Get Free Report) last announced 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 company had revenue of $746.39 million during the quarter. Analysts expect that Hawaiian Electric Industries, Inc. will post 1.71 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Jefferies Financial Group boosted their price target on shares of Hawaiian Electric Industries from $11.00 to $11.25 and gave the company a "hold" rating in a research report on Wednesday, May 28th. Barclays reduced 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 research report on Thursday, July 10th. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Hawaiian Electric Industries has a consensus rating of "Hold" and a consensus price target 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.