92,360 Shares in Hawaiian Electric Industries, Inc. $HE Purchased by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund purchased a new stake in shares of Hawaiian Electric Industries, Inc. (NYSE:HE) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 92,360 shares of the utilities provider’s stock, valued at approximately $1,371,000.

Several other institutional investors have also added to or reduced their stakes in HE. Vanguard Group Inc. increased its stake in Hawaiian Electric Industries by 9.2% in the 4th quarter. Vanguard Group Inc. now owns 19,410,325 shares of the utilities provider’s stock worth $238,747,000 after acquiring an additional 1,628,307 shares during the last quarter. Horizon Kinetics Asset Management LLC grew its holdings in shares of Hawaiian Electric Industries by 6.2% in the fourth quarter. Horizon Kinetics Asset Management LLC now owns 19,392,363 shares of the utilities provider’s stock valued at $238,526,000 after purchasing an additional 1,134,646 shares in the last quarter. State Street Corp increased its position in Hawaiian Electric Industries by 56.9% in the fourth quarter. State Street Corp now owns 7,005,768 shares of the utilities provider’s stock worth $86,171,000 after purchasing an additional 2,540,134 shares during the last quarter. Geode Capital Management LLC increased its position in Hawaiian Electric Industries by 5.3% in the fourth quarter. Geode Capital Management LLC now owns 4,125,284 shares of the utilities provider’s stock worth $50,750,000 after purchasing an additional 209,192 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Hawaiian Electric Industries by 7.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,212,106 shares of the utilities provider’s stock valued at $27,212,000 after purchasing an additional 150,347 shares in the last quarter. Hedge funds and other institutional investors own 59.91% of the company’s stock.

Hawaiian Electric Industries Stock Performance

NYSE:HE opened at $13.47 on Wednesday. The firm has a market capitalization of $2.33 billion, a PE ratio of 18.21 and a beta of 0.49. The stock’s fifty day moving average is $13.42 and its 200 day moving average is $14.53. Hawaiian Electric Industries, Inc. has a fifty-two week low of $10.57 and a fifty-two week high of $17.38. 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 posted its quarterly earnings data on Friday, May 8th. The utilities provider reported $0.18 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.09). Hawaiian Electric Industries had a return on equity of 9.03% and a net margin of 4.19%.The firm had revenue of $746.45 million for the quarter, compared to analysts’ expectations of $746.45 million. On average, sell-side analysts anticipate that Hawaiian Electric Industries, Inc. will post 1.06 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have commented on HE shares. Jefferies Financial Group lowered their price objective on shares of Hawaiian Electric Industries from $13.75 to $11.75 and set an “underperform” rating for the company in a research report on Monday, July 6th. Weiss Ratings upgraded shares of Hawaiian Electric Industries from a “sell (d)” rating to a “sell (d+)” rating in a report on Monday. Wall Street Zen cut shares of Hawaiian Electric Industries from a “buy” rating to a “hold” rating in a research report on Saturday, April 11th. Zacks Research downgraded shares of Hawaiian Electric Industries from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 6th. Finally, Barclays dropped their price target on Hawaiian Electric Industries from $14.00 to $13.00 and set an “equal weight” rating for the company in a research report on Thursday, June 25th. Two investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus target price of $12.38.

Hawaiian Electric Industries Profile

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.