VIRGINIA RETIREMENT SYSTEMS ET Al Makes New $1.21 Million Investment in Hawaiian Electric Industries, Inc. $HE

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Hawaiian Electric Industries, Inc. (NYSE:HE) during the 2nd quarter, Holdings Channel.com reports. The firm purchased 89,178 shares of the utilities provider’s stock, valued at approximately $1,207,000.

A number of other institutional investors also recently modified their holdings of the company. Caitong International Asset Management Co. Ltd boosted its position in shares of Hawaiian Electric Industries by 199,800.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,999 shares of the utilities provider’s stock worth $25,000 after buying an additional 1,998 shares during the period. Navalign LLC bought a new position in shares of Hawaiian Electric Industries during the fourth quarter worth about $25,000. Northwestern Mutual Wealth Management Co. raised its position in Hawaiian Electric Industries by 142.2% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 2,325 shares of the utilities provider’s stock valued at $26,000 after buying an additional 1,365 shares during the last quarter. Tucker Asset Management LLC acquired a new stake in Hawaiian Electric Industries in the 4th quarter valued at approximately $32,000. Finally, Smartleaf Asset Management LLC lifted its stake in Hawaiian Electric Industries by 334.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,576 shares of the utilities provider’s stock valued at $32,000 after acquiring an additional 1,983 shares in the last quarter. 59.91% of the stock is currently owned by institutional investors.

Hawaiian Electric Industries Price Performance

NYSE:HE opened at $10.43 on Friday. The stock 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 1-year low of $10.28 and a 1-year high of $17.38. The firm has a fifty day simple moving average of $12.27 and a 200 day simple moving average of $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.

Hawaiian Electric Industries (NYSE:HE) last posted its quarterly earnings results on Friday, August 7th. The utilities provider reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.08). The firm had revenue of $939.70 million for the quarter, compared to the consensus estimate of $939.70 million. Hawaiian Electric Industries had a return on equity of 7.90% and a net margin of 6.89%.During the same period last year, the company posted $0.15 earnings per share. On average, research analysts expect that Hawaiian Electric Industries, Inc. will post 0.8 EPS for the current fiscal year.

Analyst Ratings Changes

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

About Hawaiian Electric Industries

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.