Horizon Kinetics Asset Management LLC Buys Shares of 2,379,498 Hawaiian Electric Industries, Inc. (NYSE:HE)

Horizon Kinetics Asset Management LLC bought a new stake in shares of Hawaiian Electric Industries, Inc. (NYSE:HE) during the 4th quarter, HoldingsChannel reports. The firm bought 2,379,498 shares of the utilities provider’s stock, valued at approximately $23,153,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Blue Trust Inc. boosted its stake in shares of Hawaiian Electric Industries by 203.0% in the 4th quarter. Blue Trust Inc. now owns 3,078 shares of the utilities provider’s stock worth $30,000 after buying an additional 2,062 shares during the last quarter. R Squared Ltd purchased a new position in shares of Hawaiian Electric Industries in the 4th quarter worth $36,000. KBC Group NV boosted its stake in shares of Hawaiian Electric Industries by 34.8% in the 3rd quarter. KBC Group NV now owns 3,956 shares of the utilities provider’s stock worth $38,000 after buying an additional 1,021 shares during the last quarter. Quarry LP boosted its stake in shares of Hawaiian Electric Industries by 156.6% in the 3rd quarter. Quarry LP now owns 4,503 shares of the utilities provider’s stock worth $44,000 after buying an additional 2,748 shares during the last quarter. Finally, Jones Financial Companies Lllp raised its holdings in Hawaiian Electric Industries by 63.9% in the 4th quarter. Jones Financial Companies Lllp now owns 4,844 shares of the utilities provider’s stock worth $47,000 after purchasing an additional 1,889 shares during the period. 59.91% of the stock is currently owned by hedge funds and other institutional investors.

Hawaiian Electric Industries Price Performance

NYSE:HE opened at $11.25 on Monday. The company has a quick ratio of 0.18, a current ratio of 0.18 and a debt-to-equity ratio of 1.80. The business’s 50-day simple moving average is $9.89 and its two-hundred day simple moving average is $10.17. The stock has a market cap of $1.94 billion, a PE ratio of -0.95 and a beta of 0.46. Hawaiian Electric Industries, Inc. has a 52 week low of $7.61 and a 52 week high of $18.19.

Hawaiian Electric Industries (NYSE:HE) last posted its quarterly earnings results on Friday, February 21st. The utilities provider reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.19). The business had revenue of $799.18 million for the quarter. Hawaiian Electric Industries had a negative net margin of 35.38% and a positive return on equity of 11.12%. As a group, analysts forecast that Hawaiian Electric Industries, Inc. will post 1.71 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Wells Fargo & Company raised their target price on Hawaiian Electric Industries from $11.00 to $12.50 and gave the stock an “equal weight” rating in a report on Thursday, February 27th. Evercore ISI raised Hawaiian Electric Industries from an “in-line” rating to an “outperform” rating and raised their target price for the stock from $12.00 to $14.00 in a report on Friday, March 7th. StockNews.com cut Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a report on Tuesday, February 11th. Jefferies Financial Group decreased their target price on Hawaiian Electric Industries from $11.50 to $10.50 and set a “hold” rating on the stock in a report on Friday, January 3rd. Finally, Barclays raised their target price on Hawaiian Electric Industries from $10.00 to $11.00 and gave the stock an “equal weight” rating in a report on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $12.00.

About Hawaiian Electric Industries

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.