State of Alaska Department of Revenue Has $1.15 Million Holdings in Hawaiian Electric Industries, Inc. $HE

State of Alaska Department of Revenue grew its holdings in shares of Hawaiian Electric Industries, Inc. (NYSE:HE) by 1,548.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 93,573 shares of the utilities provider’s stock after purchasing an additional 87,895 shares during the period. State of Alaska Department of Revenue’s holdings in Hawaiian Electric Industries were worth $1,150,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in HE. Comerica Bank grew its position in shares of Hawaiian Electric Industries by 45.0% during the 1st quarter. Comerica Bank now owns 6,075 shares of the utilities provider’s stock worth $67,000 after purchasing an additional 1,886 shares in the last quarter. Royal Bank of Canada grew its position in shares of Hawaiian Electric Industries by 51.9% during the 1st quarter. Royal Bank of Canada now owns 379,888 shares of the utilities provider’s stock worth $4,159,000 after purchasing an additional 129,819 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Hawaiian Electric Industries by 16.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 121,582 shares of the utilities provider’s stock worth $1,331,000 after purchasing an additional 17,158 shares in the last quarter. Empowered Funds LLC grew its position in shares of Hawaiian Electric Industries by 12.9% during the 1st quarter. Empowered Funds LLC now owns 26,690 shares of the utilities provider’s stock worth $292,000 after purchasing an additional 3,060 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Hawaiian Electric Industries by 36.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 491,366 shares of the utilities provider’s stock worth $5,380,000 after purchasing an additional 132,321 shares in the last quarter. Institutional investors and hedge funds own 59.91% of the company’s stock.

Hawaiian Electric Industries Stock Performance

Shares of Hawaiian Electric Industries stock opened at $15.45 on Wednesday. The company has a 50 day moving average of $15.37 and a 200-day moving average of $13.59. Hawaiian Electric Industries, Inc. has a 1-year low of $10.03 and a 1-year high of $17.38. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 1.74. The company has a market cap of $2.67 billion, a PE ratio of 21.75 and a beta of 0.55.

Hawaiian Electric Industries (NYSE:HE) last issued its quarterly earnings results on Friday, February 27th. The utilities provider reported $0.24 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.24. Hawaiian Electric Industries had a net margin of 4.09% and a return on equity of 9.82%. The company had revenue of $805.82 million during the quarter. As a group, equities research analysts forecast that Hawaiian Electric Industries, Inc. will post 1.06 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

HE has been the topic of a number of analyst reports. Jefferies Financial Group lowered shares of Hawaiian Electric Industries from a “hold” rating to an “underperform” rating and decreased their target price for the stock from $13.50 to $12.50 in a research report on Tuesday, January 20th. Wall Street Zen lowered shares of Hawaiian Electric Industries from a “buy” rating to a “hold” rating in a research report on Saturday, April 11th. Weiss Ratings upgraded shares of Hawaiian Electric Industries from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, March 2nd. Barclays upped their price target on shares of Hawaiian Electric Industries from $13.00 to $14.00 and gave the stock an “equal weight” rating in a report on Monday, March 2nd. Finally, Zacks Research raised shares of Hawaiian Electric Industries from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 7th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $13.25.

Hawaiian Electric Industries Profile

Hawaiian Electric Industries, Inc is a diversified holding company operating in the energy and financial services sectors in the state of Hawaii. Its principal subsidiary, Hawaiian Electric Company, provides generation, transmission, distribution and customer service to the island of Oahu, while its Maui Electric and Hawaii Electric Light Company subsidiaries serve Maui, Molokai, Lanai and Hawaii Island. The roots of the electric utility business trace back to 1891 when service first commenced in Honolulu.

Through its subsidiary Hawaii Gas, HEI extends its energy portfolio to include the distribution of natural gas and propane, supporting residential, commercial and industrial customers across the islands.