89,178 Shares in Hawaiian Electric Industries, Inc. $HE Purchased by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Hawaiian Electric Industries, Inc. (NYSE:HE – Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 89,178 shares of the utilities provider’s stock, valued at approximately $1,207,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned about 0.05% of Hawaiian Electric Industries at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of HE. BlackRock Inc. acquired a new stake in shares of Hawaiian Electric Industries during the 2nd quarter worth approximately $358,318,000. State Street Corp lifted its holdings 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 valued at $86,171,000 after buying an additional 2,540,134 shares during the period. California State Teachers Retirement System boosted its stake in Hawaiian Electric Industries by 1,216.4% in the second quarter. California State Teachers Retirement System now owns 2,699,952 shares of the utilities provider’s stock valued at $36,530,000 after acquiring an additional 2,494,858 shares during the last quarter. Bank of America Corp DE acquired a new stake in Hawaiian Electric Industries during the 2nd quarter worth $32,135,000. Finally, 12 West Capital Management LP acquired a new stake in Hawaiian Electric Industries during the 4th quarter worth $22,755,000. Institutional investors own 59.91% of the company’s stock.

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Hawaiian Electric Industries Stock Performance

Shares of Hawaiian Electric Industries stock opened at $10.43 on Friday. The stock’s fifty day simple moving average is $12.27 and its 200 day simple moving average is $13.67. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.57. The company has a market capitalization of $1.80 billion, a PE ratio of 8.02 and a beta of 0.48. Hawaiian Electric Industries, Inc. has a 12 month low of $10.28 and a 12 month high of $17.38.

Hawaiian Electric Industries (NYSE:HE – Get Free Report) last released its quarterly earnings results on Friday, August 7th. The utilities provider reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.08). Hawaiian Electric Industries had a return on equity of 7.90% and a net margin of 6.89%.The business had revenue of $939.70 million for the quarter, compared to analyst estimates of $939.70 million. During the same period in the prior year, the business earned $0.15 EPS. On average, research analysts predict that Hawaiian Electric Industries, Inc. will post 0.8 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on HE. Jefferies Financial Group cut their price target on Hawaiian Electric Industries from $13.75 to $11.75 and set an “underperform” rating on the stock in a research note on Monday, July 6th. Weiss Ratings raised Hawaiian Electric Industries from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, August 11th. LADENBURG THALM/SH SH began coverage on Hawaiian Electric Industries in a report on Tuesday, September 8th. They issued a “sell” rating and a $7.00 price objective for the company. Barclays cut their target price on Hawaiian Electric Industries from $13.00 to $12.00 and set an “equal weight” rating on the stock in a research note on Tuesday, August 11th. Finally, Zacks Research lowered Hawaiian Electric Industries from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 11th. Two analysts have rated the stock with a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Strong Sell” and a consensus price target of $10.25.

Read Our Latest Stock Analysis on Hawaiian Electric Industries

Hawaiian Electric Industries Profile

(Free Report)

Hawaiian Electric Industries, Inc (NYSE: HE) is a Hawaii-based holding company whose principal businesses are electric utility operations and banking. Through its utility subsidiaries, the company generates, purchases, transmits and distributes electricity to residential, commercial and industrial customers across the Hawaiian Islands.

Hawaiian Electric Company serves Oahu, while Maui Electric Company provides service on Maui, Molokai and Lanai. Hawaii Electric Light serves customers on the island of Hawaii.

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