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

Kennedy Capital Management LLC purchased a new stake in Hawaiian Electric Industries, Inc. (NYSE:HE - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 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 at the end of the most recent reporting period.

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

Hawaiian Electric Industries Price Performance

Shares of Hawaiian Electric Industries stock traded up $0.09 during trading on Friday, reaching $10.44. The company's stock had a trading volume of 1,821,871 shares, compared to its average volume of 3,507,543. The business has a 50 day moving average price of $10.60 and a 200-day moving average price of $10.09. Hawaiian Electric Industries, Inc. has a 12-month low of $7.61 and a 12-month high of $18.19. The company has a market capitalization of $1.80 billion, a P/E ratio of -0.88 and a beta of 0.51. The company has a quick ratio of 0.18, a current ratio of 0.18 and a debt-to-equity ratio of 1.80.

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

Wall Street Analyst Weigh In

A number of research analysts have commented on HE shares. Jefferies Financial Group dropped their price objective on shares of Hawaiian Electric Industries from $11.50 to $10.50 and set a "hold" rating on the stock in a research note on Friday, January 3rd. StockNews.com cut Hawaiian Electric Industries from a "hold" rating to a "sell" rating in a research report on Tuesday, February 11th. Wells Fargo & Company upped their price target on 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 upgraded shares of Hawaiian Electric Industries from an "in-line" rating to an "outperform" rating and lifted their price objective for the company from $12.00 to $14.00 in a research report on Friday, March 7th. Finally, Barclays upped their price objective on shares of 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 issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average 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.