Gabelli Funds LLC Has $10.13 Million Stock Position in Hawaiian Electric Industries, Inc. (NYSE:HE)

Gabelli Funds LLC decreased its stake in Hawaiian Electric Industries, Inc. (NYSE:HE) by 2.4% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 898,500 shares of the utilities provider’s stock after selling 22,300 shares during the quarter. Gabelli Funds LLC owned 0.81% of Hawaiian Electric Industries worth $10,126,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Fidelis Capital Partners LLC acquired a new stake in Hawaiian Electric Industries during the 1st quarter worth about $42,000. State Board of Administration of Florida Retirement System boosted its position in Hawaiian Electric Industries by 18.4% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 156,734 shares of the utilities provider’s stock worth $1,766,000 after acquiring an additional 24,328 shares during the period. Assenagon Asset Management S.A. acquired a new stake in Hawaiian Electric Industries during the 4th quarter worth about $19,015,000. Mitsubishi UFJ Trust & Banking Corp boosted its position in Hawaiian Electric Industries by 31.2% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 13,265 shares of the utilities provider’s stock worth $147,000 after acquiring an additional 3,156 shares during the period. Finally, Wellington Management Group LLP acquired a new stake in Hawaiian Electric Industries during the 4th quarter worth about $2,370,000. Institutional investors and hedge funds own 59.91% of the company’s stock.

Hawaiian Electric Industries Stock Up 3.2 %

Shares of Hawaiian Electric Industries stock traded up $0.52 during trading on Friday, hitting $16.84. 3,190,871 shares of the stock traded hands, compared to its average volume of 7,877,074. The stock has a market cap of $1.86 billion, a P/E ratio of 9.96 and a beta of 0.57. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.11 and a current ratio of 0.11. Hawaiian Electric Industries, Inc. has a twelve month low of $7.61 and a twelve month high of $39.76. The company has a fifty day moving average price of $10.80 and a two-hundred day moving average price of $11.44.

Hawaiian Electric Industries (NYSE:HE) last issued its quarterly earnings data on Friday, May 10th. The utilities provider reported $0.45 earnings per share for the quarter. Hawaiian Electric Industries had a return on equity of 9.58% and a net margin of 5.16%. The business had revenue of $897.16 million for the quarter.

Analyst Ratings Changes

HE has been the subject of a number of research reports. StockNews.com lowered Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a research report on Tuesday, July 16th. Wells Fargo & Company lifted their price target on Hawaiian Electric Industries from $8.50 to $9.00 and gave the company an “underweight” rating in a report on Monday, May 13th. Three analysts have rated the stock with a sell rating and one has given a hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus price target of $11.63.

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.