Legal & General Group Plc Raises Holdings in Hawaiian Electric Industries, Inc. $HE

Legal & General Group Plc increased its position in Hawaiian Electric Industries, Inc. (NYSE:HE) by 38.8% during the fourth quarter, HoldingsChannel.com reports. The fund owned 718,540 shares of the utilities provider’s stock after acquiring an additional 200,809 shares during the quarter. Legal & General Group Plc’s holdings in Hawaiian Electric Industries were worth $8,838,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Navalign LLC acquired a new stake in shares of Hawaiian Electric Industries in the 4th quarter worth approximately $25,000. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Hawaiian Electric Industries by 142.2% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 2,325 shares of the utilities provider’s stock worth $26,000 after acquiring an additional 1,365 shares during the period. Tucker Asset Management LLC acquired a new stake in shares of Hawaiian Electric Industries in the 4th quarter worth approximately $32,000. EverSource Wealth Advisors LLC grew its holdings in shares of Hawaiian Electric Industries by 37.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,682 shares of the utilities provider’s stock worth $33,000 after acquiring an additional 737 shares during the period. Finally, Larson Financial Group LLC grew its holdings in shares of Hawaiian Electric Industries by 242.2% in the 3rd quarter. Larson Financial Group LLC now owns 2,741 shares of the utilities provider’s stock worth $30,000 after acquiring an additional 1,940 shares during the period. Institutional investors and hedge funds own 59.91% of the company’s stock.

Wall Street Analyst Weigh In

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

Hawaiian Electric Industries Price Performance

Shares of Hawaiian Electric Industries stock opened at $13.43 on Friday. Hawaiian Electric Industries, Inc. has a twelve month low of $10.20 and a twelve month high of $17.38. The stock has a market capitalization of $2.32 billion, a P/E ratio of 18.14 and a beta of 0.50. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 1.70. The business’s fifty day moving average price is $14.60 and its 200 day moving average price is $14.15.

Hawaiian Electric Industries (NYSE:HE) last issued its earnings results on Friday, May 8th. The utilities provider reported $0.18 earnings per share 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 analyst estimates of $746.45 million. As a group, research analysts anticipate that Hawaiian Electric Industries, Inc. will post 1.06 earnings per share 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.