VIRGINIA RETIREMENT SYSTEMS ET Al Invests $673,000 in Hawaiian Electric Industries, Inc. $HE

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Hawaiian Electric Industries, Inc. (NYSE:HE) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 63,278 shares of the utilities provider’s stock, valued at approximately $673,000.

Other institutional investors have also recently made changes to their positions in the company. Byrne Asset Management LLC grew its position in Hawaiian Electric Industries by 28.1% in the second quarter. Byrne Asset Management LLC now owns 4,981 shares of the utilities provider’s stock worth $53,000 after acquiring an additional 1,094 shares in the last quarter. Diversified Trust Co grew its position in Hawaiian Electric Industries by 3.2% in the first quarter. Diversified Trust Co now owns 42,795 shares of the utilities provider’s stock worth $469,000 after acquiring an additional 1,340 shares in the last quarter. MetLife Investment Management LLC grew its position in Hawaiian Electric Industries by 1.5% in the first quarter. MetLife Investment Management LLC now owns 99,720 shares of the utilities provider’s stock worth $1,092,000 after acquiring an additional 1,452 shares in the last quarter. US Bancorp DE grew its position in Hawaiian Electric Industries by 51.2% in the first quarter. US Bancorp DE now owns 4,293 shares of the utilities provider’s stock worth $47,000 after acquiring an additional 1,453 shares in the last quarter. Finally, Xponance Inc. boosted its position in Hawaiian Electric Industries by 12.8% during the first quarter. Xponance Inc. now owns 13,464 shares of the utilities provider’s stock valued at $147,000 after buying an additional 1,529 shares during the period. Institutional investors own 59.91% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on HE. Barclays cut their price target on shares of Hawaiian Electric Industries from $11.00 to $10.00 and set an “equal weight” rating for the company in a research report on Thursday, July 10th. Jefferies Financial Group upgraded shares of Hawaiian Electric Industries to a “hold” rating in a research report on Wednesday, October 8th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of Hawaiian Electric Industries in a research report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Hawaiian Electric Industries presently has an average rating of “Hold” and a consensus target price of $11.94.

Hawaiian Electric Industries Stock Performance

Shares of NYSE:HE opened at $11.87 on Friday. The company has a market cap of $2.05 billion, a price-to-earnings ratio of -11.75 and a beta of 0.66. The company has a 50-day moving average price of $11.74 and a 200-day moving average price of $10.99. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 1.52. Hawaiian Electric Industries, Inc. has a 12 month low of $8.14 and a 12 month high of $13.41.

Hawaiian Electric Industries (NYSE:HE) last issued its quarterly earnings data on Thursday, August 7th. The utilities provider reported $0.20 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.04). The firm had revenue of $746.39 million for the quarter. Hawaiian Electric Industries had a negative net margin of 3.66% and a positive return on equity of 10.76%. As a group, equities analysts anticipate that Hawaiian Electric Industries, Inc. will post 1.71 EPS for the current year.

Hawaiian Electric Industries Company Profile

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.