Louisiana State Employees Retirement System Invests $1.14 Million in Hawaiian Electric Industries, Inc. $HE

Louisiana State Employees Retirement System bought a new position in shares of Hawaiian Electric Industries, Inc. (NYSE:HE) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund bought 76,600 shares of the utilities provider’s stock, valued at approximately $1,137,000.

A number of other institutional investors have also made changes to their positions in HE. Caitong International Asset Management Co. Ltd lifted its holdings in Hawaiian Electric Industries by 199,800.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,999 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 1,998 shares during the last quarter. Navalign LLC bought a new position in Hawaiian Electric Industries during the fourth quarter worth $25,000. Northwestern Mutual Wealth Management Co. increased its holdings in shares of 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 valued at $26,000 after purchasing an additional 1,365 shares during the last quarter. Tucker Asset Management LLC acquired a new position in shares of Hawaiian Electric Industries in the fourth quarter valued at $32,000. Finally, Smartleaf Asset Management LLC raised its position in shares of Hawaiian Electric Industries by 334.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,576 shares of the utilities provider’s stock valued at $32,000 after purchasing an additional 1,983 shares during the period. 59.91% of the stock is owned by institutional investors and hedge funds.

Hawaiian Electric Industries Stock Down 0.1%

HE stock opened at $13.62 on Friday. 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 stock has a market capitalization of $2.35 billion, a price-to-earnings ratio of 18.40 and a beta of 0.49. The business’s fifty day moving average price is $13.78 and its two-hundred day moving average price is $14.39. Hawaiian Electric Industries, Inc. has a fifty-two week low of $10.45 and a fifty-two week high of $17.38.

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

Analysts Set New Price Targets

A number of research firms have recently issued reports on HE. Wall Street Zen cut shares of Hawaiian Electric Industries from a “buy” rating to a “hold” rating in a research note on Saturday, April 11th. Weiss Ratings lowered shares of Hawaiian Electric Industries from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday, June 15th. Barclays lowered their price target on shares of Hawaiian Electric Industries from $14.00 to $13.00 and set an “equal weight” rating on the stock in a report on Thursday, June 25th. Finally, 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. Two analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Reduce” and an average target price of $12.75.

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.