Strs Ohio increased its holdings in shares of Hawaiian Electric Industries, Inc. (NYSE:HE) by 99.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 39,850 shares of the utilities provider’s stock after acquiring an additional 19,916 shares during the quarter. Strs Ohio’s holdings in Hawaiian Electric Industries were worth $1,436,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Balentine LLC acquired a new position in Hawaiian Electric Industries in the 1st quarter valued at $31,000. BDO Wealth Advisors LLC acquired a new position in Hawaiian Electric Industries in the 1st quarter valued at $36,000. Golden State Wealth Management LLC acquired a new position in Hawaiian Electric Industries in the 1st quarter valued at $42,000. Pearl River Capital LLC acquired a new position in Hawaiian Electric Industries in the 1st quarter valued at $43,000. Finally, Twin Tree Management LP acquired a new position in Hawaiian Electric Industries in the 1st quarter valued at $54,000. 54.58% of the stock is currently owned by hedge funds and other institutional investors.

HE opened at $36.26 on Friday. The firm has a market cap of $3.91 billion, a P/E ratio of 19.19, a price-to-earnings-growth ratio of 13.24 and a beta of 0.16. Hawaiian Electric Industries, Inc. has a 52-week low of $33.51 and a 52-week high of $55.15. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.08 and a current ratio of 0.08. The business’s fifty day moving average is $36.42 and its 200-day moving average is $41.51.

Hawaiian Electric Industries (NYSE:HE) last released its earnings results on Tuesday, May 5th. The utilities provider reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.14). The company had revenue of $677.20 million for the quarter, compared to analyst estimates of $686.36 million. Hawaiian Electric Industries had a return on equity of 9.19% and a net margin of 7.16%. The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period last year, the company posted $0.42 earnings per share. On average, research analysts predict that Hawaiian Electric Industries, Inc. will post 1.68 earnings per share for the current fiscal year.

In other news, CFO Gregory C. Hazelton sold 5,000 shares of the stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $39.50, for a total transaction of $197,500.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 2.35% of the company’s stock.

A number of brokerages have commented on HE. UBS Group decreased their price objective on Hawaiian Electric Industries from $37.00 to $32.00 and set a “sell” rating on the stock in a report on Thursday, May 7th. Wells Fargo & Co decreased their price objective on Hawaiian Electric Industries from $46.00 to $40.00 and set an “underweight” rating on the stock in a report on Tuesday, April 14th. Three research analysts have rated the stock with a sell rating and four have given a hold rating to the stock. Hawaiian Electric Industries presently has a consensus rating of “Hold” and a consensus price target of $47.67.

About Hawaiian Electric Industries

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, municipal waste, and other bio fuels.

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

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