PDT Partners LLC Takes Position in Hawaiian Electric Industries, Inc. $HE

PDT Partners LLC acquired a new stake in Hawaiian Electric Industries, Inc. (NYSE:HE) in the 2nd quarter, HoldingsChannel.com reports. The firm acquired 511,975 shares of the utilities provider’s stock, valued at approximately $6,927,000.

A number of other large investors have also recently bought and sold shares of HE. BlackRock Inc. acquired a new position in Hawaiian Electric Industries during the second quarter worth $358,318,000. Vanguard Group Inc. lifted its position in shares of Hawaiian Electric Industries by 9.2% in the fourth quarter. Vanguard Group Inc. now owns 19,410,325 shares of the utilities provider’s stock worth $238,747,000 after buying an additional 1,628,307 shares during the last quarter. Horizon Kinetics Asset Management LLC lifted its position in shares of Hawaiian Electric Industries by 6.2% in the fourth quarter. Horizon Kinetics Asset Management LLC now owns 19,392,363 shares of the utilities provider’s stock worth $238,526,000 after buying an additional 1,134,646 shares during the last quarter. State Street Corp boosted its stake in shares of Hawaiian Electric Industries by 56.9% during the 4th quarter. State Street Corp now owns 7,005,768 shares of the utilities provider’s stock worth $86,171,000 after acquiring an additional 2,540,134 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Hawaiian Electric Industries by 5.3% during the 4th quarter. Geode Capital Management LLC now owns 4,125,284 shares of the utilities provider’s stock worth $50,750,000 after acquiring an additional 209,192 shares in the last quarter. 59.91% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Weiss Ratings raised Hawaiian Electric Industries from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, August 11th. Barclays decreased their target price on Hawaiian Electric Industries from $13.00 to $12.00 and set an “equal weight” rating for the company in a research report on Tuesday, August 11th. Jefferies Financial Group lowered their price target on Hawaiian Electric Industries from $13.75 to $11.75 and set an “underperform” rating on the stock in a report on Monday, July 6th. Finally, Zacks Research lowered shares of Hawaiian Electric Industries from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 11th. Two investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Reduce” and a consensus target price of $11.88.

Hawaiian Electric Industries Trading Down 0.3%

Hawaiian Electric Industries stock opened at $11.37 on Wednesday. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.99 and a current ratio of 0.99. The business’s 50-day simple moving average is $12.87 and its 200-day simple moving average is $14.16. The firm has a market capitalization of $1.96 billion, a PE ratio of 8.75 and a beta of 0.50. Hawaiian Electric Industries, Inc. has a 52 week low of $10.79 and a 52 week high of $17.38.

Hawaiian Electric Industries (NYSE:HE) last announced its earnings results on Friday, August 7th. The utilities provider reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.08). The business had revenue of $939.70 million for the quarter, compared to the consensus estimate of $939.70 million. Hawaiian Electric Industries had a net margin of 6.89% and a return on equity of 7.90%. During the same quarter in the previous year, the company earned $0.15 EPS. Equities research analysts forecast that Hawaiian Electric Industries, Inc. will post 0.99 earnings per share for the current year.

About Hawaiian Electric Industries

Hawaiian Electric Industries, Inc is a diversified holding company operating in the energy and financial services sectors in the state of Hawaii. Its principal subsidiary, Hawaiian Electric Company, provides generation, transmission, distribution and customer service to the island of Oahu, while its Maui Electric and Hawaii Electric Light Company subsidiaries serve Maui, Molokai, Lanai and Hawaii Island. The roots of the electric utility business trace back to 1891 when service first commenced in Honolulu.

Through its subsidiary Hawaii Gas, HEI extends its energy portfolio to include the distribution of natural gas and propane, supporting residential, commercial and industrial customers across the islands.