Hawaiian Electric Industries (NYSE:HE) Shares Gap Down to $10.97

Shares of Hawaiian Electric Industries, Inc. (NYSE:HE) gapped down prior to trading on Monday . The stock had previously closed at $10.97, but opened at $10.75. Hawaiian Electric Industries shares last traded at $10.97, with a volume of 186,429 shares.

Wall Street Analysts Forecast Growth

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

Hawaiian Electric Industries Trading Down 1.3 %

The company has a market cap of $1.19 billion, a P/E ratio of 6.44 and a beta of 0.55. The business has a fifty day simple moving average of $13.24 and a 200 day simple moving average of $11.39. The company has a debt-to-equity ratio of 2.62, a quick ratio of 0.11 and a current ratio of 0.11.

Hawaiian Electric Industries (NYSE:HE) last announced 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). The firm had revenue of $792.30 million for the quarter. Hawaiian Electric Industries had a positive return on equity of 10.69% and a negative net margin of 31.76%. The company’s revenue was down .2% compared to the same quarter last year.

Hedge Funds Weigh In On Hawaiian Electric Industries

A number of hedge funds and other institutional investors have recently bought and sold shares of HE. AQR Capital Management LLC grew its position in shares of Hawaiian Electric Industries by 52.8% during the second quarter. AQR Capital Management LLC now owns 6,693,424 shares of the utilities provider’s stock worth $60,308,000 after acquiring an additional 2,312,950 shares during the last quarter. Millennium Management LLC increased its stake in shares of Hawaiian Electric Industries by 79.0% in the second quarter. Millennium Management LLC now owns 1,870,088 shares of the utilities provider’s stock valued at $16,868,000 after purchasing an additional 825,073 shares during the period. Verition Fund Management LLC bought a new stake in shares of Hawaiian Electric Industries during the fourth quarter valued at approximately $8,944,000. Wellington Management Group LLP acquired a new position in shares of Hawaiian Electric Industries during the fourth quarter worth approximately $2,370,000. Finally, Panagora Asset Management Inc. grew its holdings in Hawaiian Electric Industries by 716.5% in the 2nd quarter. Panagora Asset Management Inc. now owns 187,690 shares of the utilities provider’s stock worth $1,693,000 after buying an additional 164,702 shares in the last quarter. 59.91% of the stock is currently owned by institutional investors and hedge funds.

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.