State of New Jersey Common Pension Fund D lowered its position in shares of Hawaiian Electric Industries, Inc. (NYSE:HE) by 5.6% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 340,000 shares of the utilities provider’s stock after selling 20,000 shares during the period. State of New Jersey Common Pension Fund D owned about 0.31% of Hawaiian Electric Industries worth $14,807,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently made changes to their positions in HE. Signaturefd LLC raised its holdings in Hawaiian Electric Industries by 60.9% in the 1st quarter. Signaturefd LLC now owns 872 shares of the utilities provider’s stock worth $36,000 after purchasing an additional 330 shares in the last quarter. Quadrant Capital Group LLC raised its holdings in Hawaiian Electric Industries by 12,614.3% in the 1st quarter. Quadrant Capital Group LLC now owns 2,670 shares of the utilities provider’s stock worth $107,000 after purchasing an additional 2,649 shares in the last quarter. Huntington National Bank raised its holdings in Hawaiian Electric Industries by 643.5% in the 1st quarter. Huntington National Bank now owns 2,974 shares of the utilities provider’s stock worth $121,000 after purchasing an additional 2,574 shares in the last quarter. Joseph P. Lucia & Associates LLC bought a new position in Hawaiian Electric Industries in the 1st quarter worth $177,000. Finally, Advisors Asset Management Inc. bought a new position in Hawaiian Electric Industries in the 1st quarter worth $183,000. 53.03% of the stock is owned by institutional investors and hedge funds.
Separately, Zacks Investment Research lowered shares of Hawaiian Electric Industries from a “hold” rating to a “sell” rating and set a $44.00 price target for the company. in a research note on Wednesday, May 29th.
Hawaiian Electric Industries (NYSE:HE) last released its quarterly earnings data on Tuesday, May 7th. The utilities provider reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.04. The business had revenue of $661.62 million during the quarter, compared to analyst estimates of $563.95 million. Hawaiian Electric Industries had a net margin of 7.27% and a return on equity of 9.75%. Hawaiian Electric Industries’s revenue was up 2.4% compared to the same quarter last year. During the same period last year, the business earned $0.37 EPS. As a group, equities research analysts anticipate that Hawaiian Electric Industries, Inc. will post 1.95 EPS for the current fiscal year.
About Hawaiian Electric Industries
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, municipal waste, and other bio fuels.
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