Arizona State Retirement System Has $464,000 Position in Hawaiian Electric Industries, Inc. (NYSE:HE)

Arizona State Retirement System boosted its holdings in shares of Hawaiian Electric Industries, Inc. (NYSE:HE) by 50.2% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 47,699 shares of the utilities provider’s stock after acquiring an additional 15,937 shares during the period. Arizona State Retirement System’s holdings in Hawaiian Electric Industries were worth $464,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Virtu Financial LLC bought a new position in shares of Hawaiian Electric Industries in the 3rd quarter worth $821,000. FORA Capital LLC acquired a new position in Hawaiian Electric Industries in the third quarter valued at about $692,000. Franklin Resources Inc. boosted its holdings in Hawaiian Electric Industries by 656.7% during the third quarter. Franklin Resources Inc. now owns 2,722,668 shares of the utilities provider’s stock worth $27,499,000 after buying an additional 2,362,863 shares during the last quarter. FMR LLC grew its position in shares of Hawaiian Electric Industries by 7,986.3% during the 3rd quarter. FMR LLC now owns 5,340,679 shares of the utilities provider’s stock worth $51,698,000 after buying an additional 5,274,633 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Hawaiian Electric Industries by 20.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,021,649 shares of the utilities provider’s stock valued at $29,250,000 after acquiring an additional 514,989 shares during the last quarter. Institutional investors own 59.91% of the company’s stock.

Wall Street Analyst Weigh In

HE has been the topic of several recent analyst reports. Evercore ISI upgraded shares of Hawaiian Electric Industries from an “in-line” rating to an “outperform” rating and boosted their price objective for the company from $12.00 to $14.00 in a report on Friday, March 7th. Jefferies Financial Group reduced their price target on shares of Hawaiian Electric Industries from $11.50 to $10.50 and set a “hold” rating on the stock in a research report on Friday, January 3rd. Barclays raised their price objective on Hawaiian Electric Industries from $10.00 to $11.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 4th. StockNews.com cut Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a research note on Tuesday, February 11th. Finally, Wells Fargo & Company raised their price target on Hawaiian Electric Industries from $11.00 to $12.50 and gave the stock an “equal weight” rating in a research report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $12.00.

Hawaiian Electric Industries Stock Performance

HE opened at $11.25 on Friday. The business’s 50-day moving average price is $9.89 and its two-hundred day moving average price is $10.18. Hawaiian Electric Industries, Inc. has a 1 year low of $7.61 and a 1 year high of $18.19. The company has a market capitalization of $1.94 billion, a price-to-earnings ratio of -0.95 and a beta of 0.46. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.18 and a quick ratio of 0.18.

Hawaiian Electric Industries (NYSE:HE) last released its quarterly earnings results on Friday, February 21st. The utilities provider reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.19). Hawaiian Electric Industries had a negative net margin of 35.38% and a positive return on equity of 11.12%. The firm had revenue of $799.18 million during the quarter. Equities analysts expect that Hawaiian Electric Industries, Inc. will post 1.71 EPS for the current fiscal 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.