Hawaiian Electric Industries, Inc. $HE Stock Position Raised by Horizon Kinetics Asset Management LLC

Horizon Kinetics Asset Management LLC increased its holdings in Hawaiian Electric Industries, Inc. (NYSE:HE) by 6.2% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 19,392,363 shares of the utilities provider’s stock after purchasing an additional 1,134,646 shares during the quarter. Hawaiian Electric Industries makes up about 3.2% of Horizon Kinetics Asset Management LLC’s investment portfolio, making the stock its 5th largest position. Horizon Kinetics Asset Management LLC owned about 0.11% of Hawaiian Electric Industries worth $238,526,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Moors & Cabot Inc. boosted its position in shares of Hawaiian Electric Industries by 67.8% in the 3rd quarter. Moors & Cabot Inc. now owns 378,732 shares of the utilities provider’s stock worth $4,181,000 after buying an additional 153,070 shares in the last quarter. Caprock Group LLC purchased a new stake in shares of Hawaiian Electric Industries in the 3rd quarter worth about $1,332,000. JPMorgan Chase & Co. boosted its position in shares of Hawaiian Electric Industries by 153.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,243,332 shares of the utilities provider’s stock worth $13,726,000 after buying an additional 753,549 shares in the last quarter. State of Alaska Department of Revenue boosted its position in shares of Hawaiian Electric Industries by 1,548.0% in the 4th quarter. State of Alaska Department of Revenue now owns 93,573 shares of the utilities provider’s stock worth $1,150,000 after buying an additional 87,895 shares in the last quarter. Finally, JCP Investment Management LLC purchased a new stake in shares of Hawaiian Electric Industries in the 3rd quarter worth about $3,974,000. 59.91% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently commented on HE. Wall Street Zen lowered shares of Hawaiian Electric Industries from a “buy” rating to a “hold” rating in a research report on Saturday, April 11th. Weiss Ratings lowered shares of Hawaiian Electric Industries from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, May 12th. Zacks Research lowered shares of Hawaiian Electric Industries from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 6th. Finally, Barclays upped their target price on shares of Hawaiian Electric Industries from $13.00 to $14.00 and gave the company an “equal weight” rating in a report on Monday, March 2nd. Two analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Hawaiian Electric Industries has a consensus rating of “Reduce” and an average target price of $13.25.

Hawaiian Electric Industries Price Performance

NYSE:HE opened at $13.43 on Wednesday. The firm has a market cap of $2.32 billion, a price-to-earnings ratio of 18.14 and a beta of 0.50. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 1.70. The company’s 50-day moving average is $14.52 and its two-hundred day moving average is $14.19. Hawaiian Electric Industries, Inc. has a 12-month low of $10.20 and a 12-month high of $17.38.

Hawaiian Electric Industries (NYSE:HE) last released its earnings results on Friday, May 8th. The utilities provider reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.09). The firm had revenue of $746.45 million during the quarter, compared to analysts’ expectations of $746.45 million. Hawaiian Electric Industries had a net margin of 4.19% and a return on equity of 9.03%. Research analysts expect that Hawaiian Electric Industries, Inc. will post 1.06 EPS for the current year.

About Hawaiian Electric Industries

Hawaiian Electric Industries, Inc is a diversified holding company operating in the energy and financial services sectors in the state of Hawaii. Its principal subsidiary, Hawaiian Electric Company, provides generation, transmission, distribution and customer service to the island of Oahu, while its Maui Electric and Hawaii Electric Light Company subsidiaries serve Maui, Molokai, Lanai and Hawaii Island. The roots of the electric utility business trace back to 1891 when service first commenced in Honolulu.

Through its subsidiary Hawaii Gas, HEI extends its energy portfolio to include the distribution of natural gas and propane, supporting residential, commercial and industrial customers across the islands.