Horizon Kinetics Asset Management LLC Purchases 1,134,646 Shares of Hawaiian Electric Industries, Inc. $HE

Horizon Kinetics Asset Management LLC raised its position in Hawaiian Electric Industries, Inc. (NYSE:HE) by 6.2% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 19,392,363 shares of the utilities provider’s stock after buying an additional 1,134,646 shares during the quarter. Hawaiian Electric Industries comprises about 3.2% of Horizon Kinetics Asset Management LLC’s holdings, making the stock its 5th largest position. Horizon Kinetics Asset Management LLC owned approximately 11.23% of Hawaiian Electric Industries worth $238,526,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Navalign LLC acquired a new position in Hawaiian Electric Industries in the 4th quarter valued at $25,000. Northwestern Mutual Wealth Management Co. increased its stake in Hawaiian Electric Industries by 142.2% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 2,325 shares of the utilities provider’s stock valued at $26,000 after buying an additional 1,365 shares during the period. Larson Financial Group LLC increased its stake in Hawaiian Electric Industries by 242.2% in the 3rd quarter. Larson Financial Group LLC now owns 2,741 shares of the utilities provider’s stock valued at $30,000 after buying an additional 1,940 shares during the period. Tucker Asset Management LLC acquired a new position in Hawaiian Electric Industries in the 4th quarter valued at $32,000. Finally, EverSource Wealth Advisors LLC increased its stake in Hawaiian Electric Industries by 37.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,682 shares of the utilities provider’s stock valued at $33,000 after buying an additional 737 shares during the period. 59.91% of the stock is owned by institutional investors and hedge funds.

Hawaiian Electric Industries Stock Performance

NYSE:HE opened at $13.43 on Wednesday. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 1.70. Hawaiian Electric Industries, Inc. has a fifty-two week low of $10.20 and a fifty-two week high of $17.38. The stock has a market cap of $2.32 billion, a PE ratio of 18.14 and a beta of 0.50. The firm’s fifty day simple moving average is $14.52 and its 200-day simple moving average is $14.19.

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

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on HE shares. Weiss Ratings cut shares of Hawaiian Electric Industries from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, May 12th. Wall Street Zen cut shares of Hawaiian Electric Industries from a “buy” rating to a “hold” rating in a research note on Saturday, April 11th. Zacks Research cut shares of Hawaiian Electric Industries from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 6th. Finally, Barclays boosted their price objective on shares of Hawaiian Electric Industries from $13.00 to $14.00 and gave the company an “equal weight” rating in a research note on Monday, March 2nd. Two equities research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average target price of $13.25.

Hawaiian Electric Industries Profile

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.