Trexquant Investment LP Makes New $455,000 Investment in Hawaiian Electric Industries, Inc. (NYSE:HE)

Trexquant Investment LP purchased a new position in shares of Hawaiian Electric Industries, Inc. (NYSE:HE - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 46,732 shares of the utilities provider's stock, valued at approximately $455,000.

Other hedge funds have also modified their holdings of the company. Blue Trust Inc. lifted its stake in shares of Hawaiian Electric Industries by 203.0% in the 4th 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 4th quarter valued at approximately $36,000. Jones Financial Companies Lllp increased its position in shares of Hawaiian Electric Industries by 63.9% in the 4th quarter. Jones Financial Companies Lllp now owns 4,844 shares of the utilities provider's stock valued at $47,000 after buying an additional 1,889 shares in the last quarter. Amalgamated Bank boosted its position in shares of Hawaiian Electric Industries by 50.9% during the fourth quarter. Amalgamated Bank now owns 5,650 shares of the utilities provider's stock worth $55,000 after buying an additional 1,905 shares during the period. Finally, Westside Investment Management Inc. lifted its position in shares of Hawaiian Electric Industries by 422.4% in the fourth quarter. Westside Investment Management Inc. now owns 7,915 shares of the utilities provider's stock worth $77,000 after purchasing an additional 6,400 shares in the last quarter. 59.91% of the stock is owned by institutional investors and hedge funds.

Hawaiian Electric Industries Price Performance

Shares of NYSE:HE traded up $0.09 during midday trading on Friday, hitting $10.44. The stock had a trading volume of 1,821,871 shares, compared to its average volume of 3,507,543. The company has a quick ratio of 0.18, a current ratio of 0.18 and a debt-to-equity ratio of 1.80. The company has a market capitalization of $1.80 billion, a P/E ratio of -0.88 and a beta of 0.51. The company's 50-day moving average price is $10.60 and its 200-day moving average price is $10.09. Hawaiian Electric Industries, Inc. has a fifty-two week low of $7.61 and a fifty-two week high of $18.19.

Hawaiian Electric Industries (NYSE:HE - Get Free Report) last issued its earnings results on Friday, February 21st. The utilities provider reported $0.20 earnings per share for the quarter, missing analysts' consensus estimates of $0.39 by ($0.19). The business had revenue of $799.18 million during the quarter. Hawaiian Electric Industries had a negative net margin of 35.38% and a positive return on equity of 11.12%. As a group, equities research analysts predict that Hawaiian Electric Industries, Inc. will post 1.71 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

HE has been the subject of a number of recent research reports. Evercore ISI upgraded 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 note on Friday, March 7th. StockNews.com cut Hawaiian Electric Industries from a "hold" rating to a "sell" rating in a research note on Tuesday, February 11th. Wells Fargo & Company upped their price target 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. Jefferies Financial Group cut their target price on shares of Hawaiian Electric Industries from $11.50 to $10.50 and set a "hold" rating for the company in a research note on Friday, January 3rd. Finally, Barclays raised their price target on Hawaiian Electric Industries from $10.00 to $11.00 and gave the company an "equal weight" rating in a report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $12.00.

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.