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

Kennedy Capital Management LLC acquired a new position in Hawaiian Electric Industries, Inc. (NYSE:HE) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 355,551 shares of the utilities provider’s stock, valued at approximately $3,460,000.

Several other hedge funds have also modified their holdings of HE. HighTower Advisors LLC bought a new stake in Hawaiian Electric Industries in the third quarter worth $108,000. Janus Henderson Group PLC grew its stake in shares of Hawaiian Electric Industries by 47.7% in the 3rd quarter. Janus Henderson Group PLC now owns 74,286 shares of the utilities provider’s stock worth $719,000 after buying an additional 24,000 shares in the last quarter. Stifel Financial Corp increased its holdings in shares of Hawaiian Electric Industries by 763.4% in the 3rd quarter. Stifel Financial Corp now owns 341,663 shares of the utilities provider’s stock worth $3,307,000 after buying an additional 302,091 shares during the last quarter. State Street Corp raised its position in shares of Hawaiian Electric Industries by 19.8% during the 3rd quarter. State Street Corp now owns 3,368,096 shares of the utilities provider’s stock valued at $32,603,000 after buying an additional 556,747 shares in the last quarter. Finally, XTX Topco Ltd bought a new position in shares of Hawaiian Electric Industries in the 3rd quarter valued at about $143,000. 59.91% of the stock is owned by hedge funds and other institutional investors.

Hawaiian Electric Industries Price Performance

Shares of HE stock opened at $9.68 on Friday. The stock has a 50 day moving average price of $10.55 and a 200 day moving average price of $10.07. 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 quick ratio of 0.18 and a current ratio of 0.18. The firm has a market capitalization of $1.67 billion, a P/E ratio of -0.82 and a beta of 0.51.

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

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Barclays boosted their price objective on Hawaiian Electric Industries from $10.00 to $11.00 and gave the stock an “equal weight” rating in a research note on Tuesday, March 4th. Jefferies Financial Group decreased their price target on 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 lifted their price objective on shares of Hawaiian Electric Industries from $11.00 to $12.50 and gave the stock an “equal weight” rating in a research note on Thursday, February 27th. Evercore ISI raised shares of Hawaiian Electric Industries from an “in-line” rating to an “outperform” rating and increased their target price for the company from $12.00 to $14.00 in a research note on Friday, March 7th. Finally, StockNews.com cut shares of Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a research note on Tuesday, February 11th. One research 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 company has a consensus rating of “Hold” and a consensus target price 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.