Oregon Public Employees Retirement Fund Makes New Investment in Hawaiian Electric Industries, Inc. $HE

Oregon Public Employees Retirement Fund purchased a new position in Hawaiian Electric Industries, Inc. (NYSE:HE) during the 4th quarter, HoldingsChannel reports. The firm purchased 39,500 shares of the utilities provider’s stock, valued at approximately $486,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. raised its position in Hawaiian Electric Industries by 142.2% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 2,325 shares of the utilities provider’s stock worth $26,000 after acquiring an additional 1,365 shares in the last quarter. Larson Financial Group LLC lifted its stake in Hawaiian Electric Industries by 242.2% during the third quarter. Larson Financial Group LLC now owns 2,741 shares of the utilities provider’s stock valued at $30,000 after buying an additional 1,940 shares in the last quarter. CWM LLC lifted its stake in Hawaiian Electric Industries by 41.3% during the fourth quarter. CWM LLC now owns 3,210 shares of the utilities provider’s stock valued at $39,000 after buying an additional 939 shares in the last quarter. Aster Capital Management DIFC Ltd acquired a new position in shares of Hawaiian Electric Industries in the third quarter worth about $55,000. Finally, State of Alaska Department of Revenue acquired a new position in shares of Hawaiian Electric Industries in the third quarter worth about $62,000. 59.91% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on HE. Zacks Research downgraded shares of Hawaiian Electric Industries from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 6th. Wall Street Zen downgraded shares of Hawaiian Electric Industries from a “buy” rating to a “hold” rating in a research report on Saturday, April 11th. Barclays lifted their target price on shares of Hawaiian Electric Industries from $13.00 to $14.00 and gave the stock an “equal weight” rating in a research report on Monday, March 2nd. Finally, Weiss Ratings downgraded shares of Hawaiian Electric Industries from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, May 12th. Two research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Reduce” and a consensus price target of $13.25.

Hawaiian Electric Industries Price Performance

Shares of HE opened at $13.79 on Thursday. The company has a market capitalization of $2.38 billion, a price-to-earnings ratio of 18.63 and a beta of 0.54. Hawaiian Electric Industries, Inc. has a fifty-two week low of $10.15 and a fifty-two week high of $17.38. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.34 and a quick ratio of 1.34. The business’s 50-day moving average is $14.83 and its 200-day moving average is $14.00.

Hawaiian Electric Industries (NYSE:HE) last issued its earnings results on Friday, May 8th. The utilities provider reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.09). The business had revenue of $746.45 million during the quarter, compared to analyst estimates of $746.45 million. Hawaiian Electric Industries had a net margin of 4.19% and a return on equity of 9.03%. Equities research analysts expect that Hawaiian Electric Industries, Inc. will post 1.06 EPS for the current fiscal year.

Hawaiian Electric Industries Profile

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.