Strs Ohio Takes $716,000 Position in Hawaiian Electric Industries, Inc. $HE

Key Points

• Strs Ohio has acquired a new position in Hawaiian Electric Industries, Inc. by purchasing 65,400 shares valued at approximately $716,000 in the first quarter.
• Other institutional investors, including Janney Montgomery Scott LLC and Cambridge Investment Research Advisors Inc., have also significantly increased their holdings in Hawaiian Electric Industries during the same period.
• The company's stock is currently trading at $11.82 and has reported a negative net margin of 3.66%, with anticipated earnings per share of 1.71 for the current fiscal year.

Strs Ohio purchased a new position in Hawaiian Electric Industries, Inc. (NYSE:HE - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 65,400 shares of the utilities provider's stock, valued at approximately $716,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Allworth Financial LP lifted its position in shares of Hawaiian Electric Industries by 379.3% in the 1st quarter. Allworth Financial LP now owns 2,574 shares of the utilities provider's stock worth $27,000 after purchasing an additional 2,037 shares during the period. Farther Finance Advisors LLC increased its stake in shares of Hawaiian Electric Industries by 3,797.8% in the 1st quarter. Farther Finance Advisors LLC now owns 3,469 shares of the utilities provider's stock valued at $38,000 after acquiring an additional 3,380 shares in the last quarter. Byrne Asset Management LLC increased its stake in shares of Hawaiian Electric Industries by 34.0% in the 1st quarter. Byrne Asset Management LLC now owns 3,887 shares of the utilities provider's stock valued at $43,000 after acquiring an additional 987 shares in the last quarter. US Bancorp DE increased its stake in shares of Hawaiian Electric Industries by 51.2% in the 1st quarter. US Bancorp DE now owns 4,293 shares of the utilities provider's stock valued at $47,000 after acquiring an additional 1,453 shares in the last quarter. Finally, Versant Capital Management Inc increased its stake in Hawaiian Electric Industries by 197.6% during the 1st quarter. Versant Capital Management Inc now owns 4,672 shares of the utilities provider's stock valued at $51,000 after purchasing an additional 3,102 shares in the last quarter. Institutional investors and hedge funds own 59.91% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on HE shares. Jefferies Financial Group boosted their price target on shares of Hawaiian Electric Industries from $11.00 to $11.25 and gave the company a "hold" rating in a research note on Wednesday, May 28th. Barclays cut their price objective on shares of Hawaiian Electric Industries from $11.00 to $10.00 and set an "equal weight" rating on the stock in a report on Thursday, July 10th. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $11.94.

Hawaiian Electric Industries Trading Down 0.0%

Shares of NYSE:HE traded down $0.01 during trading on Tuesday, reaching $11.52. 161,990 shares of the company traded hands, compared to its average volume of 2,260,212. The firm has a market capitalization of $1.99 billion, a price-to-earnings ratio of -11.41 and a beta of 0.69. Hawaiian Electric Industries, Inc. has a 52-week low of $8.14 and a 52-week high of $13.41. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 1.52. The business's fifty day moving average is $11.55 and its 200-day moving average is $10.91.

Hawaiian Electric Industries (NYSE:HE - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The utilities provider reported $0.20 EPS for the quarter, missing analysts' consensus estimates of $0.24 by ($0.04). The business had revenue of $746.39 million during the quarter. Hawaiian Electric Industries had a positive return on equity of 10.76% and a negative net margin of 3.66%. As a group, analysts forecast that Hawaiian Electric Industries, Inc. will post 1.71 EPS for the current 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.