Louisiana State Employees Retirement System Takes $1.14 Million Position in Hawaiian Electric Industries, Inc. $HE

Louisiana State Employees Retirement System purchased a new stake in Hawaiian Electric Industries, Inc. (NYSE:HE) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 76,600 shares of the utilities provider’s stock, valued at approximately $1,137,000.

A number of other large investors have also added to or reduced their stakes in the stock. Kestra Private Wealth Services LLC acquired a new position in Hawaiian Electric Industries in the 1st quarter valued at $849,000. Hsbc Holdings PLC bought a new stake in shares of Hawaiian Electric Industries during the 4th quarter valued at $849,000. Corient Private Wealth LLC grew its holdings in shares of Hawaiian Electric Industries by 101.5% during the 4th quarter. Corient Private Wealth LLC now owns 115,927 shares of the utilities provider’s stock worth $1,427,000 after purchasing an additional 58,387 shares in the last quarter. Kera Capital Partners Inc. grew its holdings in shares of Hawaiian Electric Industries by 51.5% during the 4th quarter. Kera Capital Partners Inc. now owns 37,638 shares of the utilities provider’s stock worth $463,000 after purchasing an additional 12,800 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in shares of Hawaiian Electric Industries by 160.8% during the 4th quarter. Invesco Ltd. now owns 682,036 shares of the utilities provider’s stock worth $8,389,000 after purchasing an additional 420,560 shares in the last quarter. Institutional investors and hedge funds own 59.91% of the company’s stock.

Hawaiian Electric Industries Trading Down 0.1%

Shares of HE stock opened at $13.62 on Friday. Hawaiian Electric Industries, Inc. has a fifty-two week low of $10.45 and a fifty-two week high of $17.38. The stock’s fifty day moving average price is $13.78 and its two-hundred day moving average price is $14.39. The company has a debt-to-equity ratio of 1.70, a quick ratio of 1.34 and a current ratio of 1.34. The company has a market cap of $2.35 billion, a PE ratio of 18.40 and a beta of 0.49.

Hawaiian Electric Industries (NYSE:HE) last posted its quarterly earnings results on Friday, May 8th. The utilities provider reported $0.18 EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $746.45 million for the quarter, compared to analyst estimates of $746.45 million. Equities analysts predict that Hawaiian Electric Industries, Inc. will post 1.06 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently commented on HE shares. Weiss Ratings downgraded Hawaiian Electric Industries from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday, June 15th. Zacks Research downgraded shares of Hawaiian Electric Industries from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 6th. Barclays decreased their target price on shares of Hawaiian Electric Industries from $14.00 to $13.00 and set an “equal weight” rating on the stock in a report on Thursday, June 25th. Finally, 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. 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, Hawaiian Electric Industries has a consensus rating of “Reduce” and a consensus target price of $12.75.

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.