Hawaiian Electric Industries (NYSE:HE) Sees Strong Trading Volume

Hawaiian Electric Industries, Inc. (NYSE:HE) shares saw unusually-high trading volume on Tuesday . Approximately 9,430,872 shares traded hands during mid-day trading, an increase of 201% from the previous session’s volume of 3,134,451 shares.The stock last traded at $9.81 and had previously closed at $10.90.

Wall Street Analyst Weigh In

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

Hawaiian Electric Industries Stock Performance

The stock has a market capitalization of $1.09 billion, a P/E ratio of 5.66 and a beta of 0.55. The stock’s 50-day simple moving average is $13.25 and its 200 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 positive return on equity of 10.69% and a negative net margin of 31.76%. The company had revenue of $792.30 million for the quarter. Hawaiian Electric Industries’s quarterly revenue was down .2% compared to the same quarter last year.

Institutional Investors Weigh In On Hawaiian Electric Industries

A number of large investors have recently added to or reduced their stakes in the stock. New Covenant Trust Company N.A. acquired a new position in shares of Hawaiian Electric Industries in the 1st quarter valued at approximately $32,000. Abich Financial Wealth Management LLC raised its position in Hawaiian Electric Industries by 54.4% during the first 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 in the last quarter. Fidelis Capital Partners LLC bought a new stake in Hawaiian Electric Industries during the first quarter worth $42,000. Cape Investment Advisory Inc. acquired a new stake in shares of Hawaiian Electric Industries in the 4th quarter valued at $43,000. Finally, Signaturefd LLC increased its stake in shares of Hawaiian Electric Industries by 30.8% in the 2nd 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. Institutional investors and hedge funds own 59.91% of the company’s stock.

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.