Hawaiian Electric Industries, Inc. $HE is Zimmer Partners LP's 8th Largest Position

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

Other large investors have also modified their holdings of the company. Allworth Financial LP raised its position in shares of Hawaiian Electric Industries by 379.3% in the first quarter. Allworth Financial LP now owns 2,574 shares of the utilities provider's stock worth $27,000 after acquiring an additional 2,037 shares during the period. Farther Finance Advisors LLC raised its position in shares of Hawaiian Electric Industries by 3,797.8% in the first quarter. Farther Finance Advisors LLC now owns 3,469 shares of the utilities provider's stock worth $38,000 after acquiring an additional 3,380 shares during the period. Byrne Asset Management LLC raised its position in shares of Hawaiian Electric Industries by 34.0% in the first quarter. Byrne Asset Management LLC now owns 3,887 shares of the utilities provider's stock worth $43,000 after acquiring an additional 987 shares during the period. Comerica Bank raised its position in shares of Hawaiian Electric Industries by 69.3% during the 4th quarter. Comerica Bank now owns 4,189 shares of the utilities provider's stock worth $41,000 after purchasing an additional 1,715 shares during the last quarter. Finally, US Bancorp DE raised its position in shares of Hawaiian Electric Industries by 51.2% during the 1st quarter. US Bancorp DE now owns 4,293 shares of the utilities provider's stock worth $47,000 after purchasing an additional 1,453 shares during the last quarter. Institutional investors and hedge funds own 59.91% of the company's stock.

Hawaiian Electric Industries Price Performance

NYSE HE traded down $0.04 during trading hours on Friday, hitting $12.11. 1,115,857 shares of the company's stock traded hands, compared to its average volume of 2,126,863. Hawaiian Electric Industries, Inc. has a 52-week low of $8.14 and a 52-week high of $13.41. The company has a market capitalization 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 current ratio of 1.07 and a quick ratio of 1.07. The firm's 50-day moving average is $11.40 and its 200-day moving average is $10.86.

Hawaiian Electric Industries (NYSE:HE - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The utilities provider reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate 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. Equities analysts forecast that Hawaiian Electric Industries, Inc. will post 1.71 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms recently weighed in on HE. Barclays reduced their price target on shares of Hawaiian Electric Industries from $11.00 to $10.00 and set an "equal weight" rating for the company in a research report on Thursday, July 10th. Jefferies Financial Group upped their price target on shares of Hawaiian Electric Industries from $11.00 to $11.25 and gave the stock a "hold" rating in a research report on Wednesday, May 28th. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price 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.