What This Fund’s $34 Million Hawaiian Electric Buy Could Signal for Utility Investors
Quick Take
A $34 million investment in Hawaiian Electric may indicate positive trends for utility investors.
Key Points
- Investment signals confidence in utility sector.
- Hawaiian Electric shows growth potential.
- Market reactions may influence future investments.
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~3 min readJonathan Ponciano, The Motley Fool
4 min read
On May 15, 2026, Horizon Kinetics Asset Management disclosed a buy of 2,242,931 shares of Hawaiian Electric Industries (NYSE:HE), an estimated $33.92 million trade based on quarterly average pricing.
What happened
According to a recent SEC filing dated May 15, 2026, Horizon Kinetics Asset Management increased its stake in Hawaiian Electric Industries (NYSE:HE) by 2,242,931 shares. The estimated value of this share addition is $33.92 million, calculated using the average closing price for the first quarter of 2026. The fund's total position in the company ended the quarter at 21,635,294 shares, with a reported value of $321.07 million. The quarter-end position value rose by $82.54 million, a figure that includes both additional shares and market price changes.
What else to know
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Horizon Kinetics Asset Management executed a buy, with Hawaiian Electric Industries representing 3.5% of its 13F assets after the filing.
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Top holdings post-filing:
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NYSE:TPL: $4.75 billion (51.8% of AUM)
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NYSEMKT:GBTC: $738.90 million (8.0% of AUM)
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NYSE:LB: $390.63 million (4.3% of AUM)
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NYSE:HE: $321.07 million (3.5% of AUM)
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NYSE:WPM: $230.78 million (2.5% of AUM)
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As of Monday, shares of Hawaiian Electric Industries were priced at $13.38, up nearly 30% over the past year and outperforming the S&P 500, which is instead up about 25% in the same period.
Company overview
| Metric | Value |
|---|---|
| Revenue (TTM) | $3.09 billion |
| Net income (TTM) | $129.59 million |
| Price (as of Monday) | $13.38 |
Company snapshot
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Hawaiian Electric provides electric utility services across multiple Hawaiian islands and operates a community bank offering consumer and commercial financial products.
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The firm generates revenue primarily from regulated electricity sales and banking operations, with additional income from investments in renewable energy and sustainable infrastructure.
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It serves residential, commercial, agricultural, and military customers throughout Hawaii, targeting both individuals and businesses seeking utility and banking solutions.
Hawaiian Electric Industries is a diversified utilities and financial services provider headquartered in Honolulu, Hawaii. The company leverages its established presence in both the electric utility and community banking sectors to deliver stable revenues and support infrastructure development across the state. Its integrated approach and focus on renewable energy initiatives position it as a key player in Hawaii's transition to sustainable energy and economic growth.
What this transaction means for investors
The timing of this purchase is interesting because it looks like a bet that Hawaiian Electric is finally moving beyond the worst of its Maui wildfire overhang and back toward being valued more like a traditional regulated utility.
The company in April cleared a major legal hurdle tied to the Maui wildfire litigation settlement, allowing it to begin making the first of four annual $479 million payments. Moody’s also upgraded both HEI and Hawaiian Electric’s credit ratings following the settlement finalization.
Operationally, the business is still holding together better than many investors might think. First-quarter revenue climbed to $746.4 million from $744 million, while net income rose to $30.5 million from $27.1 million a year earlier. The utility also ended the quarter with roughly $1.5 billion in liquidity and continues investing heavily in wildfire mitigation and grid resiliency initiatives.
It’s still not incredibly clear whether Hawaiian Electric can transition from a litigation story back into a steady utility compounding story, but Horizon’s aggressive buying suggests it believes that shift is already underway.
— Originally published at finance.yahoo.com
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