Commonwealth of Pennsylvania Public School Empls Retrmt SYS Raises Stake in Hawaiian Electric Industries, Inc. $HE

Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in Hawaiian Electric Industries, Inc. (NYSE:HE) by 15.0% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 326,794 shares of the utilities provider’s stock after buying an additional 42,735 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Hawaiian Electric Industries were worth $4,020,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Moors & Cabot Inc. boosted its holdings in shares of Hawaiian Electric Industries by 67.8% in the 3rd quarter. Moors & Cabot Inc. now owns 378,732 shares of the utilities provider’s stock worth $4,181,000 after buying an additional 153,070 shares during the last quarter. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Hawaiian Electric Industries in the 3rd quarter worth about $344,000. Caprock Group LLC purchased a new position in shares of Hawaiian Electric Industries in the 3rd quarter worth about $1,332,000. JPMorgan Chase & Co. boosted its holdings in shares of Hawaiian Electric Industries by 153.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,243,332 shares of the utilities provider’s stock worth $13,726,000 after buying an additional 753,549 shares during the last quarter. Finally, State of Alaska Department of Revenue raised its stake in Hawaiian Electric Industries by 1,548.0% in the 4th quarter. State of Alaska Department of Revenue now owns 93,573 shares of the utilities provider’s stock valued at $1,150,000 after acquiring an additional 87,895 shares during the period. 59.91% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Hawaiian Electric Industries Trading Down 1.5%

Shares of Hawaiian Electric Industries stock opened at $13.37 on Thursday. Hawaiian Electric Industries, Inc. has a 52-week low of $10.15 and a 52-week high of $17.38. The stock’s 50-day simple moving average is $14.63 and its 200 day simple moving average is $14.13. The stock has a market capitalization of $2.31 billion, a P/E ratio of 18.06 and a beta of 0.50. The company has a debt-to-equity ratio of 1.70, a quick ratio of 1.34 and a current ratio of 1.34.

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

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.