Gabelli Funds LLC Has $3.68 Million Holdings in Hawaiian Electric Industries, Inc. (NYSE:HE)

Gabelli Funds LLC decreased its position in Hawaiian Electric Industries, Inc. (NYSE:HE - Free Report) by 27.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 378,500 shares of the utilities provider's stock after selling 141,500 shares during the quarter. Gabelli Funds LLC owned 0.22% of Hawaiian Electric Industries worth $3,683,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Horizon Kinetics Asset Management LLC bought a new position in shares of Hawaiian Electric Industries in the 4th quarter valued at about $23,153,000. Franklin Resources Inc. raised its holdings in Hawaiian Electric Industries by 656.7% during the 3rd quarter. Franklin Resources Inc. now owns 2,722,668 shares of the utilities provider's stock worth $27,499,000 after buying an additional 2,362,863 shares during the period. Burkehill Global Management LP acquired a new stake in Hawaiian Electric Industries during the 4th quarter worth approximately $19,460,000. Geode Capital Management LLC raised its holdings in Hawaiian Electric Industries by 49.3% during the 3rd quarter. Geode Capital Management LLC now owns 3,793,142 shares of the utilities provider's stock worth $36,725,000 after buying an additional 1,253,143 shares during the period. Finally, Vanguard Group Inc. raised its holdings in shares of Hawaiian Electric Industries by 6.5% in the fourth quarter. Vanguard Group Inc. now owns 18,231,969 shares of the utilities provider's stock valued at $177,397,000 after purchasing an additional 1,112,150 shares during the last quarter. Institutional investors own 59.91% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. StockNews.com downgraded shares of Hawaiian Electric Industries from a "hold" rating to a "sell" rating in a report on Tuesday, February 11th. Evercore ISI upgraded shares of Hawaiian Electric Industries from an "in-line" rating to an "outperform" rating and raised their target price for the company from $12.00 to $14.00 in a research note on Friday, March 7th. Jefferies Financial Group lowered their price target on shares of Hawaiian Electric Industries from $11.50 to $10.50 and set a "hold" rating on the stock in a report on Friday, January 3rd. Wells Fargo & Company increased their price target on shares of Hawaiian Electric Industries from $11.00 to $12.50 and gave the company an "equal weight" rating in a report on Thursday, February 27th. Finally, Barclays raised their target price on shares of 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 assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat, Hawaiian Electric Industries has an average rating of "Hold" and an average price target of $12.00.

Hawaiian Electric Industries Price Performance

NYSE:HE traded down $0.05 during mid-day trading on Wednesday, reaching $10.41. The stock had a trading volume of 367,097 shares, compared to its average volume of 2,847,954. Hawaiian Electric Industries, Inc. has a 12 month low of $7.61 and a 12 month high of $18.19. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.18 and a quick ratio of 0.18. The stock has a market capitalization of $1.80 billion, a PE ratio of -0.88 and a beta of 0.51. The stock has a 50-day simple moving average of $10.60 and a two-hundred day simple moving average of $10.11.

Hawaiian Electric Industries (NYSE:HE - Get Free Report) last issued its earnings results on Friday, February 21st. The utilities provider reported $0.20 earnings per share for the quarter, missing analysts' consensus estimates of $0.39 by ($0.19). The company had revenue of $799.18 million during the quarter. Hawaiian Electric Industries had a negative net margin of 35.38% and a positive return on equity of 11.12%. On average, equities analysts anticipate that Hawaiian Electric Industries, Inc. will post 1.71 earnings per share for the current year.

Hawaiian Electric Industries Company 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.