Oakbrook Investments LLC Acquires New Position in Hawaiian Electric Industries, Inc. (HE)

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Oakbrook Investments LLC acquired a new position in shares of Hawaiian Electric Industries, Inc. (NYSE:HE) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,796 shares of the utilities provider’s stock, valued at approximately $242,000.

A number of other institutional investors have also recently modified their holdings of HE. Private Advisor Group LLC bought a new stake in shares of Hawaiian Electric Industries during the second quarter valued at approximately $311,000. Arizona State Retirement System grew its stake in shares of Hawaiian Electric Industries by 2.7% during the second quarter. Arizona State Retirement System now owns 75,566 shares of the utilities provider’s stock valued at $2,592,000 after purchasing an additional 1,964 shares during the last quarter. Sei Investments Co. grew its stake in shares of Hawaiian Electric Industries by 16.3% during the second quarter. Sei Investments Co. now owns 130,583 shares of the utilities provider’s stock valued at $4,479,000 after purchasing an additional 18,296 shares during the last quarter. Mutual of America Capital Management LLC grew its stake in shares of Hawaiian Electric Industries by 4.8% during the second quarter. Mutual of America Capital Management LLC now owns 93,639 shares of the utilities provider’s stock valued at $3,212,000 after purchasing an additional 4,297 shares during the last quarter. Finally, Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp bought a new stake in shares of Hawaiian Electric Industries during the second quarter valued at approximately $2,202,000. 51.59% of the stock is currently owned by hedge funds and other institutional investors.

Several analysts have recently commented on the stock. Wells Fargo & Co increased their price target on shares of Hawaiian Electric Industries from $36.00 to $37.00 and gave the company a “market perform” rating in a research note on Monday, September 17th. Zacks Investment Research cut shares of Hawaiian Electric Industries from a “buy” rating to a “hold” rating in a research note on Thursday, July 12th. Finally, Bank of America raised shares of Hawaiian Electric Industries from an “underperform” rating to a “neutral” rating in a research note on Monday, July 2nd. Two analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. Hawaiian Electric Industries currently has an average rating of “Hold” and an average price target of $34.00.

HE opened at $37.01 on Tuesday. Hawaiian Electric Industries, Inc. has a one year low of $31.72 and a one year high of $38.72. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.85. The company has a market cap of $3.97 billion, a PE ratio of 22.43, a P/E/G ratio of 2.99 and a beta of 0.28.

Hawaiian Electric Industries (NYSE:HE) last released its quarterly earnings results on Friday, August 3rd. The utilities provider reported $0.42 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.42. Hawaiian Electric Industries had a net margin of 6.78% and a return on equity of 9.28%. The business had revenue of $685.28 million for the quarter, compared to analysts’ expectations of $637.52 million. As a group, equities analysts anticipate that Hawaiian Electric Industries, Inc. will post 1.85 EPS for the current fiscal year.

Hawaiian Electric Industries Company Profile

Hawaiian Electric Industries, Inc, through its subsidiaries, engages in the electric utility and banking businesses primarily in the state of Hawaii. The company's Electric Utility segment is involved in generating, purchasing, transmitting, distributing, and selling electric energy. Its renewable energy sources and potential sources include wind, solar, photovoltaic, geothermal, wave, hydroelectric, sugarcane waste, municipal waste, and other bio fuels.

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Institutional Ownership by Quarter for Hawaiian Electric Industries (NYSE:HE)

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