Janney Montgomery Scott LLC Makes New $178,000 Investment in Hawaiian Electric Industries, Inc. (NYSE:HE)

Janney Montgomery Scott LLC purchased a new position in shares of Hawaiian Electric Industries, Inc. (NYSE:HE) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 18,320 shares of the utilities provider’s stock, valued at approximately $178,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. SG Americas Securities LLC grew its stake in shares of Hawaiian Electric Industries by 29.8% in the 4th quarter. SG Americas Securities LLC now owns 48,475 shares of the utilities provider’s stock worth $472,000 after purchasing an additional 11,128 shares during the last quarter. Westside Investment Management Inc. grew its stake in shares of Hawaiian Electric Industries by 422.4% in the 4th quarter. Westside Investment Management Inc. now owns 7,915 shares of the utilities provider’s stock worth $77,000 after purchasing an additional 6,400 shares during the last quarter. Mad River Investors acquired a new position in shares of Hawaiian Electric Industries in the 4th quarter worth approximately $1,171,000. Kera Capital Partners Inc. acquired a new position in shares of Hawaiian Electric Industries in the 4th quarter worth approximately $99,000. Finally, Assenagon Asset Management S.A. grew its stake in shares of Hawaiian Electric Industries by 92.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 313,035 shares of the utilities provider’s stock worth $3,046,000 after purchasing an additional 150,735 shares during the last quarter. 59.91% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on HE shares. StockNews.com cut shares of Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a research note on Tuesday. Evercore ISI dropped their target price on shares of Hawaiian Electric Industries from $11.00 to $10.00 and set an “in-line” rating on the stock in a research report on Tuesday, November 19th. Barclays initiated coverage on shares of Hawaiian Electric Industries in a research report on Thursday, February 6th. They issued an “equal weight” rating and a $10.00 target price on the stock. Finally, Jefferies Financial Group dropped their target price on shares of Hawaiian Electric Industries from $11.50 to $10.50 and set a “hold” rating on the stock in a research report on Friday, January 3rd. One research analyst has rated the stock with a sell rating and four have given a hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $10.50.

Hawaiian Electric Industries Stock Performance

Shares of HE opened at $10.37 on Friday. The company’s 50 day moving average price is $9.54 and its 200 day moving average price is $10.69. Hawaiian Electric Industries, Inc. has a 52 week low of $7.61 and a 52 week high of $18.19. The company has a market capitalization of $1.79 billion, a PE ratio of -0.88 and a beta of 0.53. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.18 and a current ratio of 0.18.

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.