Zimmer Partners LP Grows Position in Hawaiian Electric Industries, Inc. (NYSE:HE)

Zimmer Partners LP boosted its stake in Hawaiian Electric Industries, Inc. (NYSE:HE - Free Report) by 1.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 15,202,552 shares of the utilities provider's stock after purchasing an additional 202,552 shares during the quarter. Hawaiian Electric Industries comprises 2.5% of Zimmer Partners LP's portfolio, making the stock its 13th largest position. Zimmer Partners LP owned about 8.81% of Hawaiian Electric Industries worth $147,921,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Blue Trust Inc. grew its holdings in Hawaiian Electric Industries by 203.0% in the fourth quarter. Blue Trust Inc. now owns 3,078 shares of the utilities provider's stock valued at $30,000 after purchasing an additional 2,062 shares during the period. R Squared Ltd acquired a new stake in shares of Hawaiian Electric Industries in the fourth quarter worth $36,000. Comerica Bank increased its position in shares of Hawaiian Electric Industries by 69.3% in the fourth quarter. Comerica Bank now owns 4,189 shares of the utilities provider's stock worth $41,000 after acquiring an additional 1,715 shares in the last quarter. Jones Financial Companies Lllp increased its position in shares of Hawaiian Electric Industries by 63.9% in the fourth quarter. Jones Financial Companies Lllp now owns 4,844 shares of the utilities provider's stock worth $47,000 after acquiring an additional 1,889 shares in the last quarter. Finally, Sterling Capital Management LLC increased its position in shares of Hawaiian Electric Industries by 816.0% in the fourth quarter. Sterling Capital Management LLC now owns 5,221 shares of the utilities provider's stock worth $51,000 after acquiring an additional 4,651 shares in the last quarter. 59.91% of the stock is currently owned by hedge funds and other institutional investors.

Hawaiian Electric Industries Price Performance

HE opened at $10.69 on Tuesday. The company has a fifty day simple moving average of $10.47 and a 200 day simple moving average of $10.17. The firm has a market cap of $1.84 billion, a price-to-earnings ratio of -0.90 and a beta of 0.64. Hawaiian Electric Industries, Inc. has a twelve month low of $7.61 and a twelve month high of $18.19. The company has a current ratio of 0.18, a quick ratio of 0.18 and a debt-to-equity ratio of 1.80.

Hawaiian Electric Industries (NYSE:HE - Get Free Report) last released its quarterly earnings results on Friday, May 9th. The utilities provider reported $0.23 earnings per share for the quarter, meeting analysts' consensus estimates of $0.23. The business had revenue of $744.07 million during the quarter. Hawaiian Electric Industries had a negative net margin of 35.38% and a positive return on equity of 11.12%. During the same period in the previous year, the business posted $0.38 earnings per share. Equities research analysts expect that Hawaiian Electric Industries, Inc. will post 1.71 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on HE shares. StockNews.com raised shares of Hawaiian Electric Industries from a "sell" rating to a "hold" rating in a research report on Monday, May 12th. Barclays increased their price objective on shares of Hawaiian Electric Industries from $10.00 to $11.00 and gave the stock an "equal weight" rating in a research report on Tuesday, March 4th. Wells Fargo & Company increased their price objective on shares of Hawaiian Electric Industries from $11.00 to $12.50 and gave the stock an "equal weight" rating in a research report on Thursday, February 27th. Finally, Evercore ISI raised shares of Hawaiian Electric Industries from an "in-line" rating to an "outperform" rating and increased their price objective for the stock from $12.00 to $14.00 in a research report on Friday, March 7th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $12.00.

Hawaiian Electric Industries Company 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.

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