Hawaiian Electric Industries (NYSE:HE) Stock Price Down 7%

Hawaiian Electric Industries, Inc. (NYSE:HE)’s stock price traded down 7% during mid-day trading on Thursday . The stock traded as low as $11.19 and last traded at $11.22. 501,062 shares changed hands during mid-day trading, a decline of 84% from the average session volume of 3,063,355 shares. The stock had previously closed at $12.06.

Analyst Ratings Changes

A number of research analysts have commented on HE shares. StockNews.com cut shares of Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a research note on Monday, September 16th. Wells Fargo & Company upgraded Hawaiian Electric Industries from an “underweight” rating to an “equal weight” rating and set a $14.00 target price for the company in a research report on Friday, August 23rd. Finally, Evercore ISI reaffirmed an “in-line” rating and issued a $16.00 price target on shares of Hawaiian Electric Industries in a research note on Wednesday, August 14th.

Hawaiian Electric Industries Price Performance

The stock has a market capitalization of $1.21 billion, a P/E ratio of 6.49 and a beta of 0.55. The company’s 50 day simple moving average is $13.24 and its two-hundred day simple moving average is $11.39. The company has a debt-to-equity ratio of 2.62, a current ratio of 0.11 and a quick ratio of 0.11.

Hawaiian Electric Industries (NYSE:HE) last issued its quarterly earnings data on Friday, August 9th. The utilities provider reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.05). Hawaiian Electric Industries had a negative net margin of 31.76% and a positive return on equity of 10.69%. The business had revenue of $792.30 million during the quarter. The firm’s quarterly revenue was down .2% on a year-over-year basis.

Hedge Funds Weigh In On Hawaiian Electric Industries

A number of large investors have recently modified their holdings of HE. New Covenant Trust Company N.A. bought a new stake in shares of Hawaiian Electric Industries during the first quarter worth approximately $32,000. Cape Investment Advisory Inc. acquired a new position in shares of Hawaiian Electric Industries in the 4th quarter valued at $43,000. Abich Financial Wealth Management LLC lifted its stake in shares of Hawaiian Electric Industries by 54.4% in the 1st quarter. Abich Financial Wealth Management LLC now owns 3,226 shares of the utilities provider’s stock valued at $36,000 after purchasing an additional 1,137 shares during the period. Fidelis Capital Partners LLC bought a new position in shares of Hawaiian Electric Industries in the 1st quarter worth $42,000. Finally, Signaturefd LLC increased its holdings in Hawaiian Electric Industries by 30.8% in the second quarter. Signaturefd LLC now owns 8,437 shares of the utilities provider’s stock valued at $76,000 after purchasing an additional 1,986 shares during the last quarter. 59.91% of the stock is currently owned by institutional investors and hedge funds.

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.