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

Janney Montgomery Scott LLC acquired a new position in Hawaiian Electric Industries, Inc. (NYSE:HE) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 18,320 shares of the utilities provider’s stock, valued at approximately $178,000.

Other institutional investors and hedge funds have also modified their holdings of the company. KBC Group NV lifted its stake in shares of Hawaiian Electric Industries by 34.8% in the third quarter. KBC Group NV now owns 3,956 shares of the utilities provider’s stock worth $38,000 after buying an additional 1,021 shares during the last quarter. Quarry LP lifted its stake in shares of Hawaiian Electric Industries by 156.6% in the third quarter. Quarry LP now owns 4,503 shares of the utilities provider’s stock worth $44,000 after buying an additional 2,748 shares during the last quarter. Millburn Ridgefield Corp acquired a new position in Hawaiian Electric Industries during the 3rd quarter valued at $55,000. Westside Investment Management Inc. raised its stake in Hawaiian Electric Industries by 422.4% during the 4th quarter. Westside Investment Management Inc. now owns 7,915 shares of the utilities provider’s stock valued at $77,000 after purchasing an additional 6,400 shares during the last quarter. Finally, Quest Partners LLC raised its stake in Hawaiian Electric Industries by 126.1% during the 3rd quarter. Quest Partners LLC now owns 7,983 shares of the utilities provider’s stock valued at $77,000 after purchasing an additional 4,453 shares during the last quarter. 59.91% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Hawaiian Electric Industries Trading Down 4.5 %

Shares of Hawaiian Electric Industries stock opened at $10.37 on Friday. The stock has a market capitalization of $1.79 billion, a P/E ratio of -0.88 and a beta of 0.53. The company has a quick ratio of 0.18, a current ratio of 0.18 and a debt-to-equity ratio of 1.80. The company has a 50-day simple moving average of $9.54 and a 200 day simple moving average of $10.69. Hawaiian Electric Industries, Inc. has a 12-month low of $7.61 and a 12-month high of $18.19.

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.