Kennedy Capital Management LLC Acquires New Shares in Hawaiian Electric Industries, Inc. (NYSE:HE)

Kennedy Capital Management LLC acquired a new position in Hawaiian Electric Industries, Inc. (NYSE:HE - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 355,551 shares of the utilities provider's stock, valued at approximately $3,460,000. Kennedy Capital Management LLC owned about 0.21% of Hawaiian Electric Industries as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. Capital Fund Management S.A. purchased a new position in Hawaiian Electric Industries in the fourth quarter valued at $749,000. Fernwood Investment Management LLC raised its position in Hawaiian Electric Industries by 24.8% in the 4th quarter. Fernwood Investment Management LLC now owns 166,250 shares of the utilities provider's stock valued at $1,618,000 after purchasing an additional 33,075 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Hawaiian Electric Industries in the 4th quarter valued at about $342,000. Renaissance Technologies LLC grew its position in shares of Hawaiian Electric Industries by 91.8% during the fourth quarter. Renaissance Technologies LLC now owns 500,600 shares of the utilities provider's stock worth $4,871,000 after buying an additional 239,600 shares in the last quarter. Finally, Legal & General Group Plc increased its stake in shares of Hawaiian Electric Industries by 9.8% during the fourth quarter. Legal & General Group Plc now owns 492,238 shares of the utilities provider's stock worth $4,789,000 after buying an additional 43,998 shares during the period. Hedge funds and other institutional investors own 59.91% of the company's stock.

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Hawaiian Electric Industries Price Performance

HE remained flat at $10.38 on Wednesday. 1,684,713 shares of the company were exchanged, compared to its average volume of 3,518,710. The stock's 50-day simple moving average is $10.58 and its 200-day simple moving average is $10.08. The company has a market cap of $1.79 billion, a PE ratio of -0.88 and a beta of 0.51. Hawaiian Electric Industries, Inc. has a 52-week low of $7.61 and a 52-week 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.

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

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on HE. StockNews.com downgraded shares of Hawaiian Electric Industries from a "hold" rating to a "sell" rating in a research note on Tuesday, February 11th. Jefferies Financial Group lowered their target price on shares of Hawaiian Electric Industries from $11.50 to $10.50 and set a "hold" rating for the company in a research note on Friday, January 3rd. Wells Fargo & Company raised their price target on Hawaiian Electric Industries from $11.00 to $12.50 and gave the company an "equal weight" rating in a research note on Thursday, February 27th. Evercore ISI raised Hawaiian Electric Industries from an "in-line" rating to an "outperform" rating and upped their price objective for the stock from $12.00 to $14.00 in a research report on Friday, March 7th. 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 research report on Tuesday, March 4th. One research 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. Based on data from MarketBeat, the company 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.