New York State Common Retirement Fund Raises Stake in Hawaiian Electric Industries, Inc. (NYSE:HE)

New York State Common Retirement Fund increased its stake in shares of Hawaiian Electric Industries, Inc. (NYSE:HE) by 63.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 51,100 shares of the utilities provider’s stock after buying an additional 19,900 shares during the period. New York State Common Retirement Fund’s holdings in Hawaiian Electric Industries were worth $497,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Blue Trust Inc. grew its stake in shares of Hawaiian Electric Industries by 203.0% during the 4th quarter. Blue Trust Inc. now owns 3,078 shares of the utilities provider’s stock worth $30,000 after acquiring an additional 2,062 shares during the period. R Squared Ltd bought a new stake in Hawaiian Electric Industries in the 4th quarter valued at about $36,000. KBC Group NV lifted its holdings in Hawaiian Electric Industries by 34.8% during the third quarter. KBC Group NV now owns 3,956 shares of the utilities provider’s stock valued at $38,000 after purchasing an additional 1,021 shares during the last quarter. Quarry LP boosted its position in Hawaiian Electric Industries by 156.6% during the third quarter. Quarry LP now owns 4,503 shares of the utilities provider’s stock worth $44,000 after purchasing an additional 2,748 shares during the period. Finally, Millburn Ridgefield Corp purchased a new position in shares of Hawaiian Electric Industries in the third quarter worth about $55,000. Institutional investors own 59.91% of the company’s stock.

Wall Street Analysts Forecast Growth

HE has been the subject of several analyst reports. Wells Fargo & Company raised their price objective on shares of Hawaiian Electric Industries from $11.00 to $12.50 and gave the stock an “equal weight” rating in a report on Thursday, February 27th. Jefferies Financial Group cut their price target on Hawaiian Electric Industries from $11.50 to $10.50 and set a “hold” rating for the company in a report on Friday, January 3rd. Evercore ISI decreased their price objective on Hawaiian Electric Industries from $11.00 to $10.00 and set an “in-line” rating on the stock in a research note on Tuesday, November 19th. Barclays increased their price objective on Hawaiian Electric Industries from $10.00 to $11.00 and gave the stock an “equal weight” rating in a report on Tuesday. Finally, StockNews.com lowered Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a report on Tuesday, February 11th. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $11.00.

Hawaiian Electric Industries Trading Down 3.5 %

Hawaiian Electric Industries stock opened at $10.49 on Wednesday. The stock has a market cap of $1.81 billion, a P/E ratio of -0.89 and a beta of 0.53. Hawaiian Electric Industries, Inc. has a fifty-two week low of $7.61 and a fifty-two week high of $18.19. The firm’s fifty day moving average price is $9.69 and its 200-day moving average price is $10.20. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.18 and a current 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 for the quarter, missing the consensus estimate of $0.39 by ($0.19). The business had revenue of $799.18 million during the quarter. Hawaiian Electric Industries had a negative net margin of 35.38% and a positive return on equity of 11.12%. Equities research analysts forecast that Hawaiian Electric Industries, Inc. will post 1.71 earnings per share for the current fiscal year.

Hawaiian Electric Industries 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.