Arizona State Retirement System Raises Stock Position in Hawaiian Electric Industries, Inc. (NYSE:HE)

Arizona State Retirement System raised its position in Hawaiian Electric Industries, Inc. (NYSE:HE) by 3.7% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 49,470 shares of the utilities provider’s stock after purchasing an additional 1,771 shares during the period. Arizona State Retirement System’s holdings in Hawaiian Electric Industries were worth $542,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. T. Rowe Price Investment Management Inc. purchased a new position in shares of Hawaiian Electric Industries in the 4th quarter valued at about $115,010,000. Two Sigma Investments LP boosted its holdings in Hawaiian Electric Industries by 165.6% in the fourth quarter. Two Sigma Investments LP now owns 2,043,726 shares of the utilities provider’s stock valued at $19,885,000 after purchasing an additional 1,274,119 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Hawaiian Electric Industries by 6.5% in the fourth quarter. Vanguard Group Inc. now owns 18,231,969 shares of the utilities provider’s stock valued at $177,397,000 after purchasing an additional 1,112,150 shares in the last quarter. Mad River Investors boosted its holdings in Hawaiian Electric Industries by 910.7% in the first quarter. Mad River Investors now owns 1,215,900 shares of the utilities provider’s stock valued at $13,314,000 after purchasing an additional 1,095,600 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp boosted its holdings in Hawaiian Electric Industries by 196.1% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,222,532 shares of the utilities provider’s stock valued at $11,895,000 after purchasing an additional 809,601 shares in the last quarter. Hedge funds and other institutional investors own 59.91% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on HE. Jefferies Financial Group increased their price objective on Hawaiian Electric Industries from $11.00 to $11.25 and gave the company a “hold” rating in a report on Wednesday, May 28th. Wall Street Zen raised Hawaiian Electric Industries from a “sell” rating to a “hold” rating in a report on Monday, May 12th. Finally, Barclays decreased their price target on 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. 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, the company presently has a consensus rating of “Hold” and an average price target of $11.94.

Hawaiian Electric Industries Stock Up 1.4%

NYSE HE opened at $10.89 on Tuesday. The stock has a market cap of $1.88 billion, a PE ratio of -0.84 and a beta of 0.64. Hawaiian Electric Industries, Inc. has a fifty-two week low of $8.14 and a fifty-two week high of $17.30. The business has a 50 day moving average price of $10.64 and a two-hundred day moving average price of $10.31. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.77.

Hawaiian Electric Industries (NYSE:HE) last released its earnings results on Friday, May 9th. The utilities provider reported $0.23 EPS 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 company had revenue of $744.07 million for the quarter. During the same period in the prior year, the business earned $0.38 EPS. As a group, sell-side analysts predict that Hawaiian Electric Industries, Inc. will post 1.71 EPS for the current fiscal year.

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.