Alaska Permanent Fund Corp Raises Stock Position in Hawaiian Electric Industries, Inc. (NYSE:HE)

Alaska Permanent Fund Corp boosted its holdings in shares of Hawaiian Electric Industries, Inc. (NYSE:HE) by 150.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 137,406 shares of the utilities provider’s stock after purchasing an additional 82,442 shares during the period. Alaska Permanent Fund Corp owned about 0.12% of Hawaiian Electric Industries worth $1,549,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Gladius Capital Management LP increased its holdings in shares of Hawaiian Electric Industries by 686.9% during the 4th quarter. Gladius Capital Management LP now owns 2,109 shares of the utilities provider’s stock valued at $30,000 after purchasing an additional 1,841 shares in the last quarter. Cape Investment Advisory Inc. purchased a new position in Hawaiian Electric Industries in the fourth quarter valued at $43,000. GAMMA Investing LLC acquired a new position in shares of Hawaiian Electric Industries in the fourth quarter worth about $67,000. CWM LLC boosted its stake in shares of Hawaiian Electric Industries by 40.0% during the 4th quarter. CWM LLC now owns 10,460 shares of the utilities provider’s stock worth $148,000 after acquiring an additional 2,990 shares in the last quarter. Finally, Valeo Financial Advisors LLC acquired a new stake in shares of Hawaiian Electric Industries during the 4th quarter valued at about $163,000. 59.91% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on HE. Wells Fargo & Company increased their price target on Hawaiian Electric Industries from $8.50 to $9.00 and gave the stock an “underweight” rating in a research report on Monday, May 13th. StockNews.com cut shares of Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a research note on Monday, May 27th. Three investment analysts have rated the stock with a sell rating and one has given a hold rating to the company. According to MarketBeat, the company has an average rating of “Reduce” and an average target price of $11.63.

Hawaiian Electric Industries Stock Down 1.2 %

Shares of HE opened at $9.29 on Friday. Hawaiian Electric Industries, Inc. has a 52-week low of $8.74 and a 52-week high of $40.16. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 1.19. The stock has a fifty day simple moving average of $10.41 and a two-hundred day simple moving average of $11.96. The company has a market capitalization of $1.02 billion, a PE ratio of 5.49 and a beta of 0.61.

Hawaiian Electric Industries (NYSE:HE) last announced its quarterly earnings results on Friday, May 10th. The utilities provider reported $0.45 earnings per share (EPS) for the quarter. Hawaiian Electric Industries had a net margin of 5.16% and a return on equity of 9.58%. The business had revenue of $897.16 million during the quarter.

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.