PDT Partners LLC reduced its position in Hawaiian Electric Industries, Inc. (NYSE:HE - Free Report) by 30.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 212,877 shares of the utilities provider's stock after selling 92,431 shares during the period. PDT Partners LLC owned 0.19% of Hawaiian Electric Industries worth $2,061,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Hawaiian Electric Industries by 1.5% during the first quarter. Vanguard Group Inc. now owns 11,059,244 shares of the utilities provider's stock valued at $124,638,000 after buying an additional 160,815 shares during the last quarter. FORA Capital LLC purchased a new stake in Hawaiian Electric Industries during the third quarter worth $692,000. Seven Grand Managers LLC purchased a new stake in shares of Hawaiian Electric Industries during the 3rd quarter valued at $4,888,000. Bank of New York Mellon Corp boosted its position in shares of Hawaiian Electric Industries by 23.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 638,156 shares of the utilities provider's stock worth $5,756,000 after purchasing an additional 120,208 shares in the last quarter. Finally, Fernwood Investment Management LLC boosted its position in shares of Hawaiian Electric Industries by 82.8% in the 3rd quarter. Fernwood Investment Management LLC now owns 133,175 shares of the utilities provider's stock worth $1,289,000 after purchasing an additional 60,335 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
Shares of Hawaiian Electric Industries stock traded down $0.14 on Friday, hitting $10.39. The company's stock had a trading volume of 1,070,270 shares, compared to its average volume of 3,008,127. Hawaiian Electric Industries, Inc. has a 1 year low of $7.61 and a 1 year high of $18.19. The firm has a fifty day moving average price of $10.12 and a 200-day moving average price of $11.16. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.18 and a current ratio of 0.18. The company has a market capitalization of $1.79 billion, a price-to-earnings ratio of -0.88 and a beta of 0.53.
Hawaiian Electric Industries (NYSE:HE - Get Free Report) last released its quarterly earnings data on Friday, November 8th. The utilities provider reported $0.46 EPS for the quarter, missing analysts' consensus estimates of $0.53 by ($0.07). Hawaiian Electric Industries had a negative net margin of 35.38% and a positive return on equity of 11.12%. The business had revenue of $983.38 million during the quarter. During the same quarter in the previous year, the company earned $0.37 EPS. The business's revenue was up 9.0% compared to the same quarter last year.
Wall Street Analysts Forecast Growth
A number of analysts have recently weighed in on the company. Wells Fargo & Company lowered their price objective on Hawaiian Electric Industries from $14.00 to $11.50 and set an "equal weight" rating for the company in a research report on Monday, September 30th. Evercore ISI lowered their price target on Hawaiian Electric Industries from $11.00 to $10.00 and set an "in-line" rating for the company in a research report on Tuesday, November 19th. Finally, StockNews.com cut Hawaiian Electric Industries from a "hold" rating to a "sell" rating in a research report on Friday, October 4th.
Check Out Our Latest Report on HE
Hawaiian Electric Industries Company Profile
(
Free Report)
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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