Alaska Permanent Fund Corp Reduces Stock Position in Hawaiian Electric Industries, Inc. (NYSE:HE)

Alaska Permanent Fund Corp lowered its position in shares of Hawaiian Electric Industries, Inc. (NYSE:HE) by 47.6% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 54,964 shares of the utilities provider’s stock after selling 49,935 shares during the quarter. Alaska Permanent Fund Corp’s holdings in Hawaiian Electric Industries were worth $780,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. UMB Bank n.a. bought a new position in shares of Hawaiian Electric Industries in the 3rd quarter worth about $27,000. Newbridge Financial Services Group Inc. purchased a new position in Hawaiian Electric Industries during the third quarter valued at approximately $35,000. GAMMA Investing LLC purchased a new position in Hawaiian Electric Industries during the fourth quarter valued at approximately $67,000. CWM LLC lifted its holdings in Hawaiian Electric Industries by 49.9% during the third quarter. CWM LLC now owns 7,470 shares of the utilities provider’s stock valued at $92,000 after purchasing an additional 2,488 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp lifted its holdings in Hawaiian Electric Industries by 38.8% during the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 9,386 shares of the utilities provider’s stock valued at $116,000 after purchasing an additional 2,625 shares in the last quarter. Hedge funds and other institutional investors own 59.91% of the company’s stock.

Wall Street Analyst Weigh In

HE has been the topic of several analyst reports. StockNews.com raised shares of Hawaiian Electric Industries from a “sell” rating to a “hold” rating in a report on Monday, April 15th. Evercore ISI lifted their price target on shares of Hawaiian Electric Industries from $7.00 to $11.00 and gave the company an “in-line” rating in a report on Thursday, February 15th. Two equities research analysts have rated the stock with a sell rating and two have issued a hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $11.50.

Hawaiian Electric Industries Price Performance

HE stock opened at $10.50 on Friday. Hawaiian Electric Industries, Inc. has a one year low of $8.74 and a one year high of $40.16. The company’s fifty day moving average price is $11.38 and its 200-day moving average price is $12.63. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.13 and a current ratio of 0.13. The company has a market capitalization of $1.16 billion, a PE ratio of 5.80 and a beta of 0.53.

Hawaiian Electric Industries (NYSE:HE) last announced its quarterly earnings results on Tuesday, February 13th. The utilities provider reported $0.48 earnings per share for the quarter, hitting the consensus estimate of $0.48. Hawaiian Electric Industries had a net margin of 5.45% and a return on equity of 9.99%. The company had revenue of $961.40 million for the quarter. During the same quarter in the prior year, the firm posted $0.52 EPS. The company’s revenue for the quarter was down 5.7% on a year-over-year basis. On average, equities analysts anticipate that Hawaiian Electric Industries, Inc. will post 1.98 EPS for the current fiscal year.

About Hawaiian Electric Industries

Hawaiian Electric Industries, Inc, together with its subsidiaries, engages in the electric utility businesses in the United States. It operates in three segments: Electric Utility, Bank, and Other. The Electric Utility segment engages in the production, purchase, transmission, distribution, and sale of electricity in the islands of Oahu, Hawaii, Maui, Lanai, and Molokai.