Strs Ohio Has $473,000 Holdings in Hawaiian Electric Industries, Inc. $HE

Strs Ohio increased its position in shares of Hawaiian Electric Industries, Inc. (NYSE:HE) by 529.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 42,800 shares of the utilities provider’s stock after purchasing an additional 36,000 shares during the period. Strs Ohio’s holdings in Hawaiian Electric Industries were worth $473,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of HE. Horizon Kinetics Asset Management LLC lifted its holdings in shares of Hawaiian Electric Industries by 28.6% in the 2nd quarter. Horizon Kinetics Asset Management LLC now owns 16,281,709 shares of the utilities provider’s stock worth $173,075,000 after purchasing an additional 3,624,709 shares in the last quarter. Moors & Cabot Inc. raised its holdings in shares of Hawaiian Electric Industries by 119.2% in the second quarter. Moors & Cabot Inc. now owns 225,662 shares of the utilities provider’s stock valued at $2,399,000 after purchasing an additional 122,737 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in Hawaiian Electric Industries by 180.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 878,253 shares of the utilities provider’s stock valued at $9,696,000 after buying an additional 565,218 shares during the last quarter. Inspire Advisors LLC purchased a new stake in shares of Hawaiian Electric Industries during the third quarter valued at approximately $1,000,000. Finally, CSM Advisors LLC purchased a new stake in shares of Hawaiian Electric Industries during the 2nd quarter valued at $5,440,000. 59.91% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on HE. Jefferies Financial Group lowered Hawaiian Electric Industries from a “hold” rating to an “underperform” rating and reduced their price objective for the company from $13.50 to $12.50 in a report on Tuesday, January 20th. Weiss Ratings restated a “sell (d)” rating on shares of Hawaiian Electric Industries in a research report on Monday, December 29th. Finally, Barclays lifted their price objective on Hawaiian Electric Industries from $11.00 to $13.00 and gave the company a “positive” rating in a research note on Monday, January 26th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $13.00.

Hawaiian Electric Industries Trading Down 3.9%

Shares of HE opened at $15.26 on Friday. The firm’s 50-day moving average price is $12.88 and its 200-day moving average price is $11.99. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.79. The firm has a market capitalization of $2.63 billion, a price-to-earnings ratio of 190.70 and a beta of 0.64. Hawaiian Electric Industries, Inc. has a 1-year low of $8.93 and a 1-year high of $16.67.

Hawaiian Electric Industries (NYSE:HE) last issued its quarterly earnings results on Friday, November 7th. The utilities provider reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.20) by $0.39. Hawaiian Electric Industries had a net margin of 0.56% and a return on equity of 9.51%. The company had revenue of $790.61 million during the quarter. Sell-side analysts anticipate that Hawaiian Electric Industries, Inc. will post 1.71 EPS for the current year.

Hawaiian Electric Industries Company 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.