Horizon Kinetics Asset Management LLC Purchases New Position in Hawaiian Electric Industries, Inc. (NYSE:HE)

Horizon Kinetics Asset Management LLC bought a new position in shares of Hawaiian Electric Industries, Inc. (NYSE:HE) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 2,379,498 shares of the utilities provider’s stock, valued at approximately $23,153,000. Horizon Kinetics Asset Management LLC owned 1.38% of Hawaiian Electric Industries as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Virtu Financial LLC bought a new position in shares of Hawaiian Electric Industries in the 3rd quarter worth approximately $821,000. FORA Capital LLC bought a new position in shares of Hawaiian Electric Industries in the 3rd quarter worth approximately $692,000. Franklin Resources Inc. raised its position in shares of Hawaiian Electric Industries by 656.7% in the 3rd quarter. Franklin Resources Inc. now owns 2,722,668 shares of the utilities provider’s stock worth $27,499,000 after acquiring an additional 2,362,863 shares in the last quarter. FMR LLC raised its position in shares of Hawaiian Electric Industries by 7,986.3% in the 3rd quarter. FMR LLC now owns 5,340,679 shares of the utilities provider’s stock worth $51,698,000 after acquiring an additional 5,274,633 shares in the last quarter. Finally, MetLife Investment Management LLC raised its position in shares of Hawaiian Electric Industries by 239.6% in the 3rd quarter. MetLife Investment Management LLC now owns 94,991 shares of the utilities provider’s stock worth $920,000 after acquiring an additional 67,020 shares in the last quarter. Hedge funds and other institutional investors own 59.91% of the company’s stock.

Hawaiian Electric Industries Stock Performance

Hawaiian Electric Industries stock 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 company has a market capitalization of $1.94 billion, a P/E ratio of -0.95 and a beta of 0.46. The stock’s 50 day moving average is $9.89 and its 200 day moving average is $10.17. Hawaiian Electric Industries, Inc. has a twelve month low of $7.61 and a twelve month 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 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.19). Hawaiian Electric Industries had a positive return on equity of 11.12% and a negative net margin of 35.38%. The company had revenue of $799.18 million during the quarter. On average, equities research analysts predict that Hawaiian Electric Industries, Inc. will post 1.71 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on HE shares. Wells Fargo & Company increased their target price on Hawaiian Electric Industries from $11.00 to $12.50 and gave the stock an “equal weight” rating in a research report on Thursday, February 27th. StockNews.com lowered Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a research report on Tuesday, February 11th. Evercore ISI raised Hawaiian Electric Industries from an “in-line” rating to an “outperform” rating and increased their target price for the stock from $12.00 to $14.00 in a research report on Friday, March 7th. Jefferies Financial Group cut their price target on Hawaiian Electric Industries from $11.50 to $10.50 and set a “hold” rating on the stock in a research note on Friday, January 3rd. Finally, Barclays upped their price target on Hawaiian Electric Industries from $10.00 to $11.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, Hawaiian Electric Industries has an average rating of “Hold” and an average 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.