Teacher Retirement System of Texas Acquires New Shares in Hawaiian Electric Industries, Inc. (NYSE:HE)

Teacher Retirement System of Texas acquired a new position in shares of Hawaiian Electric Industries, Inc. (NYSE:HE) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 25,137 shares of the utilities provider’s stock, valued at approximately $275,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Farther Finance Advisors LLC raised its holdings in shares of Hawaiian Electric Industries by 3,797.8% during the first quarter. Farther Finance Advisors LLC now owns 3,469 shares of the utilities provider’s stock worth $38,000 after acquiring an additional 3,380 shares during the period. Comerica Bank raised its holdings in shares of Hawaiian Electric Industries by 69.3% during 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 during the period. Byrne Asset Management LLC boosted its holdings in Hawaiian Electric Industries by 34.0% during the first quarter. Byrne Asset Management LLC now owns 3,887 shares of the utilities provider’s stock worth $43,000 after purchasing an additional 987 shares during the last quarter. Sterling Capital Management LLC grew its position in 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 valued at $51,000 after purchasing an additional 4,651 shares in the last quarter. Finally, Versant Capital Management Inc grew its position in Hawaiian Electric Industries by 197.6% in the first quarter. Versant Capital Management Inc now owns 4,672 shares of the utilities provider’s stock valued at $51,000 after purchasing an additional 3,102 shares in the last quarter. Institutional investors own 59.91% of the company’s stock.

Hawaiian Electric Industries Stock Performance

Shares of Hawaiian Electric Industries stock opened at $10.74 on Friday. The stock has a market cap of $1.85 billion, a price-to-earnings ratio of -0.83 and a beta of 0.64. The firm’s 50-day moving average is $10.64 and its 200 day moving average is $10.30. Hawaiian Electric Industries, Inc. has a 1 year low of $8.14 and a 1 year high of $17.30. The company has a debt-to-equity ratio of 1.77, a current ratio of 1.25 and a quick ratio of 1.25.

Hawaiian Electric Industries (NYSE:HE) last issued its earnings results on Friday, May 9th. The utilities provider reported $0.23 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.23. Hawaiian Electric Industries had a positive return on equity of 12.59% and a negative net margin of 42.60%. The business had revenue of $744.07 million during the quarter. During the same period last year, the firm posted $0.38 EPS. Sell-side analysts anticipate that Hawaiian Electric Industries, Inc. will post 1.71 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Barclays reduced their target price on shares of Hawaiian Electric Industries from $11.00 to $10.00 and set an “equal weight” rating for the company in a report on Thursday, July 10th. Jefferies Financial Group lifted their price objective on shares of Hawaiian Electric Industries from $11.00 to $11.25 and gave the stock a “hold” rating in a research note on Wednesday, May 28th. Finally, Wall Street Zen upgraded shares of Hawaiian Electric Industries from a “sell” rating to a “hold” rating in a research note on Monday, May 12th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $11.94.

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.