Oregon Public Employees Retirement Fund Takes $486,000 Position in Hawaiian Electric Industries, Inc. $HE

Oregon Public Employees Retirement Fund purchased a new stake in shares of Hawaiian Electric Industries, Inc. (NYSE:HE) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 39,500 shares of the utilities provider’s stock, valued at approximately $486,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Hawaiian Electric Industries by 142.2% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 2,325 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 1,365 shares during the period. Larson Financial Group LLC boosted its holdings in shares of 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 acquiring an additional 1,940 shares during the period. CWM LLC boosted its holdings in shares of 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 acquiring an additional 939 shares during the period. Aster Capital Management DIFC Ltd acquired a new position in shares of Hawaiian Electric Industries during the third quarter valued at $55,000. Finally, State of Alaska Department of Revenue acquired a new position in shares of Hawaiian Electric Industries during the third quarter valued at $62,000. Institutional investors and hedge funds own 59.91% of the company’s stock.

Hawaiian Electric Industries Price Performance

Shares of Hawaiian Electric Industries stock opened at $13.79 on Thursday. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 1.70. The company’s 50-day moving average price is $14.83 and its two-hundred day moving average price is $14.00. Hawaiian Electric Industries, Inc. has a 52 week low of $10.15 and a 52 week high of $17.38. The stock has a market cap of $2.38 billion, a PE ratio of 18.63 and a beta of 0.54.

Hawaiian Electric Industries (NYSE:HE) last issued its quarterly earnings results on Friday, May 8th. The utilities provider reported $0.18 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.09). Hawaiian Electric Industries had a return on equity of 9.03% and a net margin of 4.19%.The business had revenue of $746.45 million during the quarter, compared to the consensus estimate of $746.45 million. As a group, sell-side analysts anticipate that Hawaiian Electric Industries, Inc. will post 1.06 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

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.