Arizona State Retirement System increased its position in Hawaiian Electric Industries, Inc. (NYSE:HE) by 1.1% in the fourth quarter, HoldingsChannel.com reports. The fund owned 78,147 shares of the utilities provider’s stock after acquiring an additional 838 shares during the quarter. Arizona State Retirement System’s holdings in Hawaiian Electric Industries were worth $2,862,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Raymond James & Associates boosted its position in shares of Hawaiian Electric Industries by 18.5% during the second quarter. Raymond James & Associates now owns 14,765 shares of the utilities provider’s stock worth $506,000 after buying an additional 2,305 shares during the period. Bank of America Corp DE lifted its position in Hawaiian Electric Industries by 12.0% in the second quarter. Bank of America Corp DE now owns 315,844 shares of the utilities provider’s stock worth $10,834,000 after purchasing an additional 33,786 shares during the period. Cubist Systematic Strategies LLC acquired a new stake in Hawaiian Electric Industries in the second quarter worth approximately $131,000. Northern Trust Corp lifted its position in Hawaiian Electric Industries by 0.3% in the second quarter. Northern Trust Corp now owns 880,318 shares of the utilities provider’s stock worth $30,196,000 after purchasing an additional 2,792 shares during the period. Finally, United Services Automobile Association lifted its position in Hawaiian Electric Industries by 10.0% in the second quarter. United Services Automobile Association now owns 56,742 shares of the utilities provider’s stock worth $1,946,000 after purchasing an additional 5,159 shares during the period. Institutional investors own 51.50% of the company’s stock.

HE has been the subject of a number of research analyst reports. Zacks Investment Research downgraded Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a research report on Tuesday, January 29th. Bank of America downgraded Hawaiian Electric Industries from a “neutral” rating to an “underperform” rating and cut their target price for the stock from $35.00 to $34.00 in a research report on Thursday, November 15th.

HE opened at $37.98 on Friday. The company has a market capitalization of $4.14 billion, a price-to-earnings ratio of 23.02, a PEG ratio of 2.93 and a beta of 0.23. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.08 and a quick ratio of 0.08. Hawaiian Electric Industries, Inc. has a 1-year low of $31.77 and a 1-year high of $39.35.

Hawaiian Electric Industries (NYSE:HE) last announced its quarterly earnings data on Wednesday, November 7th. The utilities provider reported $0.60 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.02). Hawaiian Electric Industries had a net margin of 6.76% and a return on equity of 9.52%. The company had revenue of $768.05 million for the quarter, compared to analyst estimates of $709.02 million. During the same quarter last year, the company posted $0.55 EPS. Hawaiian Electric Industries’s revenue was up 14.1% on a year-over-year basis. On average, analysts predict that Hawaiian Electric Industries, Inc. will post 1.87 EPS for the current fiscal year.

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Hawaiian Electric Industries Company Profile

Hawaiian Electric Industries, Inc, through its subsidiaries, engages in the electric utility and banking businesses primarily in the state of Hawaii. The company's Electric Utility segment is involved in generating, purchasing, transmitting, distributing, and selling electric energy. Its renewable energy sources and potential sources include wind, solar, photovoltaic, geothermal, wave, hydroelectric, sugarcane waste, municipal waste, and other bio fuels.

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Institutional Ownership by Quarter for Hawaiian Electric Industries (NYSE:HE)

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