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

Horizon Kinetics Asset Management LLC purchased a new stake in shares of Hawaiian Electric Industries, Inc. (NYSE:HE - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 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 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of HE. Zimmer Partners LP bought a new stake in shares of Hawaiian Electric Industries in the 3rd quarter worth approximately $145,200,000. FMR LLC grew its stake in shares of Hawaiian Electric Industries by 7,986.3% in the third 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 during the last quarter. Geode Capital Management LLC increased its holdings in shares of Hawaiian Electric Industries by 49.3% during the third quarter. Geode Capital Management LLC now owns 3,793,142 shares of the utilities provider's stock valued at $36,725,000 after acquiring an additional 1,253,143 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Hawaiian Electric Industries by 14.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,471,522 shares of the utilities provider's stock valued at $33,778,000 after acquiring an additional 449,873 shares in the last quarter. Finally, State Street Corp raised its position in shares of Hawaiian Electric Industries by 19.8% in the 3rd quarter. State Street Corp now owns 3,368,096 shares of the utilities provider's stock worth $32,603,000 after purchasing an additional 556,747 shares during the last quarter. Hedge funds and other institutional investors own 59.91% of the company's stock.

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Hawaiian Electric Industries Stock Performance

NYSE:HE traded down $0.11 during trading hours on Friday, reaching $10.98. The company had a trading volume of 3,593,815 shares, compared to its average volume of 3,461,341. The firm's 50 day moving average price is $10.06 and its 200-day moving average price is $10.19. The firm has a market cap of $1.89 billion, a price-to-earnings ratio of -0.93 and a beta of 0.46. The company has a current ratio of 0.18, a quick ratio of 0.18 and a debt-to-equity ratio of 1.80. 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 - Get Free Report) last posted its quarterly earnings data 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 firm 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%. On average, analysts forecast that Hawaiian Electric Industries, Inc. will post 1.71 EPS for the current year.

Analyst Ratings Changes

HE has been the subject of a number of analyst reports. Evercore ISI upgraded shares of Hawaiian Electric Industries from an "in-line" rating to an "outperform" rating and raised their price objective for the company from $12.00 to $14.00 in a research note on Friday, March 7th. Barclays boosted their price objective 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. Jefferies Financial Group reduced their target price on Hawaiian Electric Industries from $11.50 to $10.50 and set a "hold" rating for the company in a report on Friday, January 3rd. StockNews.com cut Hawaiian Electric Industries from a "hold" rating to a "sell" rating in a research note on Tuesday, February 11th. Finally, Wells Fargo & Company increased their price objective on Hawaiian Electric Industries from $11.00 to $12.50 and gave the company an "equal weight" rating in a research report on Thursday, February 27th. One 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 data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $12.00.

Hawaiian Electric Industries 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.