Strs Ohio Purchases 36,000 Shares of Hawaiian Electric Industries, Inc. $HE

Strs Ohio lifted 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 filing with the SEC. The institutional investor owned 42,800 shares of the utilities provider’s stock after buying an additional 36,000 shares during the quarter. Strs Ohio’s holdings in Hawaiian Electric Industries were worth $473,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC raised its position in shares of Hawaiian Electric Industries by 37.5% during the third quarter. Farther Finance Advisors LLC now owns 4,125 shares of the utilities provider’s stock valued at $46,000 after buying an additional 1,125 shares during the last quarter. SJS Investment Consulting Inc. bought a new stake in shares of Hawaiian Electric Industries in the 3rd quarter worth about $46,000. Ameritas Advisory Services LLC purchased a new stake in Hawaiian Electric Industries during the second quarter valued at approximately $47,000. Allworth Financial LP raised its holdings in Hawaiian Electric Industries by 78.9% during the 2nd quarter. Allworth Financial LP now owns 4,605 shares of the utilities provider’s stock valued at $49,000 after buying an additional 2,031 shares during the period. Finally, State of Alaska Department of Revenue purchased a new stake in shares of Hawaiian Electric Industries in the third quarter valued at $62,000. 59.91% of the stock is owned by hedge funds and other institutional investors.

Hawaiian Electric Industries Price Performance

Shares of NYSE HE opened at $15.26 on Friday. The stock has a market capitalization of $2.63 billion, a price-to-earnings ratio of 190.70 and a beta of 0.64. The company has a debt-to-equity ratio of 1.79, a current ratio of 1.35 and a quick ratio of 1.35. The firm’s 50 day simple moving average is $12.88 and its 200-day simple moving average is $11.99. Hawaiian Electric Industries, Inc. has a 12 month low of $8.93 and a 12 month high of $16.67.

Hawaiian Electric Industries (NYSE:HE) last issued its quarterly earnings data on Friday, November 7th. The utilities provider reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $790.61 million during the quarter. Analysts expect that Hawaiian Electric Industries, Inc. will post 1.71 EPS for the current year.

Analysts Set New Price Targets

HE has been the topic of several research reports. Jefferies Financial Group downgraded Hawaiian Electric Industries from a “hold” rating to an “underperform” rating and reduced their price objective for the stock from $13.50 to $12.50 in a report on Tuesday, January 20th. Weiss Ratings reiterated a “sell (d)” rating on shares of Hawaiian Electric Industries in a research note on Monday, December 29th. Finally, Barclays upped their target price on Hawaiian Electric Industries from $11.00 to $13.00 and gave the company a “positive” rating in a research report on Monday, January 26th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, Hawaiian Electric Industries has an average rating of “Hold” and a consensus target price of $13.00.

About Hawaiian Electric Industries

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.