Algert Global LLC Buys 90,234 Shares of Hawaiian Electric Industries, Inc. (NYSE:HE)

Algert Global LLC boosted its holdings in Hawaiian Electric Industries, Inc. (NYSE:HE - Free Report) by 116.8% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 167,484 shares of the utilities provider's stock after buying an additional 90,234 shares during the quarter. Algert Global LLC owned 0.15% of Hawaiian Electric Industries worth $1,511,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. The Manufacturers Life Insurance Company raised its holdings in shares of Hawaiian Electric Industries by 225.3% during the second quarter. The Manufacturers Life Insurance Company now owns 59,640 shares of the utilities provider's stock valued at $538,000 after acquiring an additional 41,305 shares during the period. Millennium Management LLC grew its position in Hawaiian Electric Industries by 79.0% during the 2nd quarter. Millennium Management LLC now owns 1,870,088 shares of the utilities provider's stock worth $16,868,000 after purchasing an additional 825,073 shares in the last quarter. AQR Capital Management LLC raised its stake in Hawaiian Electric Industries by 52.8% during the 2nd quarter. AQR Capital Management LLC now owns 6,693,424 shares of the utilities provider's stock valued at $60,308,000 after purchasing an additional 2,312,950 shares during the period. Caxton Associates LP lifted its holdings in shares of Hawaiian Electric Industries by 13.2% in the second quarter. Caxton Associates LP now owns 137,798 shares of the utilities provider's stock valued at $1,243,000 after purchasing an additional 16,026 shares in the last quarter. Finally, Marshall Wace LLP boosted its position in shares of Hawaiian Electric Industries by 96.8% in the second quarter. Marshall Wace LLP now owns 313,255 shares of the utilities provider's stock worth $2,826,000 after buying an additional 154,116 shares during the period. Institutional investors own 59.91% of the company's stock.

Hawaiian Electric Industries Price Performance

Shares of HE stock traded down $0.02 during trading hours on Friday, hitting $9.75. The company had a trading volume of 3,001,192 shares, compared to its average volume of 3,452,722. The company has a debt-to-equity ratio of 2.62, a quick ratio of 0.11 and a current ratio of 0.11. The firm has a market capitalization of $1.08 billion, a price-to-earnings ratio of 5.72 and a beta of 0.54. Hawaiian Electric Industries, Inc. has a 12 month low of $7.61 and a 12 month high of $18.19. The firm's fifty day moving average is $12.40 and its 200 day moving average is $11.29.

Hawaiian Electric Industries (NYSE:HE - Get Free Report) last announced its earnings results on Friday, August 9th. The utilities provider reported $0.44 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.49 by ($0.05). The firm had revenue of $792.30 million for the quarter. Hawaiian Electric Industries had a positive return on equity of 10.69% and a negative net margin of 31.76%. The firm's revenue was down .2% on a year-over-year basis.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on HE. StockNews.com cut shares of Hawaiian Electric Industries from a "hold" rating to a "sell" rating in a report on Friday. Wells Fargo & Company lowered their target price on shares of Hawaiian Electric Industries from $14.00 to $11.50 and set an "equal weight" rating on the stock in a research note on Monday. Finally, Evercore ISI dropped their target price on shares of Hawaiian Electric Industries from $16.00 to $9.00 and set an "in-line" rating on the stock in a research report on Tuesday, September 24th.

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.