Gamco Investors INC. ET AL Purchases 25,500 Shares of Hawaiian Electric Industries, Inc. $HE

Key Points

• Gamco Investors Inc. increased its stake in Hawaiian Electric Industries by 17.1% in the first quarter, owning 174,600 shares valued at approximately $1.91 million.
• Multiple institutional investors are bolstering their positions in Hawaiian Electric, with Two Sigma Investments increasing its stake by 165.6%, now holding over 2 million shares.
• Recent analyst ratings for Hawaiian Electric show a mixed outlook, with prices targets ranging from $10.00 to $11.25 and an average rating of "Hold."

Gamco Investors INC. ET AL grew its stake in shares of Hawaiian Electric Industries, Inc. (NYSE:HE - Free Report) by 17.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 174,600 shares of the utilities provider's stock after buying an additional 25,500 shares during the quarter. Gamco Investors INC. ET AL owned about 0.10% of Hawaiian Electric Industries worth $1,912,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in HE. Allworth Financial LP grew its stake in shares of Hawaiian Electric Industries by 379.3% in the 1st quarter. Allworth Financial LP now owns 2,574 shares of the utilities provider's stock worth $27,000 after purchasing an additional 2,037 shares during the last quarter. Farther Finance Advisors LLC increased its position in shares of Hawaiian Electric Industries by 3,797.8% in the first quarter. Farther Finance Advisors LLC now owns 3,469 shares of the utilities provider's stock worth $38,000 after acquiring an additional 3,380 shares in the last quarter. Comerica Bank increased its position in shares of Hawaiian Electric Industries by 69.3% in the fourth quarter. Comerica Bank now owns 4,189 shares of the utilities provider's stock worth $41,000 after acquiring an additional 1,715 shares in the last quarter. Byrne Asset Management LLC grew its position in Hawaiian Electric Industries by 34.0% during the first quarter. Byrne Asset Management LLC now owns 3,887 shares of the utilities provider's stock valued at $43,000 after purchasing an additional 987 shares in the last quarter. Finally, US Bancorp DE grew its position in Hawaiian Electric Industries by 51.2% during the first quarter. US Bancorp DE now owns 4,293 shares of the utilities provider's stock valued at $47,000 after purchasing an additional 1,453 shares in the last quarter. 59.91% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have commented on the stock. Wall Street Zen raised shares of Hawaiian Electric Industries from a "sell" rating to a "hold" rating in a research report on Monday, May 12th. Jefferies Financial Group boosted their target price on shares of Hawaiian Electric Industries from $11.00 to $11.25 and gave the stock a "hold" rating in a research report on Wednesday, May 28th. Finally, Barclays decreased their target price on shares of Hawaiian Electric Industries from $11.00 to $10.00 and set an "equal weight" rating for the company in a research report on Thursday, July 10th. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $11.94.

Hawaiian Electric Industries Stock Performance

Shares of Hawaiian Electric Industries stock traded up $0.08 on Friday, reaching $12.97. The stock had a trading volume of 4,748,701 shares, compared to its average volume of 2,204,580. The business's 50-day moving average price is $11.11 and its two-hundred day moving average price is $10.75. The company has a debt-to-equity ratio of 1.52, a quick ratio of 1.07 and a current ratio of 1.07. Hawaiian Electric Industries, Inc. has a fifty-two week low of $8.14 and a fifty-two week high of $13.41. The stock has a market cap of $2.24 billion, a P/E ratio of -12.84 and a beta of 0.69.

Hawaiian Electric Industries (NYSE:HE - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The utilities provider reported $0.20 earnings per share for the quarter, missing analysts' consensus estimates of $0.24 by ($0.04). The firm had revenue of $746.39 million during the quarter. Hawaiian Electric Industries had a positive return on equity of 10.76% and a negative net margin of 3.66%. On average, sell-side analysts forecast that Hawaiian Electric Industries, Inc. will post 1.71 EPS for the current year.

Hawaiian Electric Industries Company 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.