Hawaiian Electric Industries (NYSE:HE) Trading 5.2% Higher

Hawaiian Electric Industries, Inc. (NYSE:HE) traded up 5.2% during trading on Thursday . The company traded as high as $9.78 and last traded at $9.73. 2,269,055 shares traded hands during mid-day trading, a decline of 34% from the average session volume of 3,439,513 shares. The stock had previously closed at $9.25.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Wells Fargo & Company lowered their price objective on shares of Hawaiian Electric Industries from $14.00 to $11.50 and set an “equal weight” rating on the stock in a research note on Monday. Evercore ISI lowered their price objective on shares of Hawaiian Electric Industries from $16.00 to $9.00 and set an “in-line” rating on the stock in a research note on Tuesday, September 24th. Finally, StockNews.com cut shares of Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a research note on Wednesday, September 25th.

Hawaiian Electric Industries Price Performance

The company’s 50-day moving average is $12.53 and its 200-day moving average is $11.30. The company has a debt-to-equity ratio of 2.62, a current ratio of 0.11 and a quick ratio of 0.11. The firm has a market capitalization of $1.07 billion, a price-to-earnings ratio of 5.74 and a beta of 0.54.

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

Institutional Trading of Hawaiian Electric Industries

Hedge funds have recently made changes to their positions in the company. New Covenant Trust Company N.A. bought a new stake in shares of Hawaiian Electric Industries in the first quarter worth $32,000. Abich Financial Wealth Management LLC increased its stake in shares of Hawaiian Electric Industries by 54.4% in the first quarter. Abich Financial Wealth Management LLC now owns 3,226 shares of the utilities provider’s stock worth $36,000 after buying an additional 1,137 shares during the last quarter. Fidelis Capital Partners LLC bought a new stake in shares of Hawaiian Electric Industries in the first quarter worth $42,000. Signaturefd LLC boosted 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 worth $76,000 after purchasing an additional 1,986 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in Hawaiian Electric Industries by 82.3% in the second quarter. GAMMA Investing LLC now owns 9,540 shares of the utilities provider’s stock worth $86,000 after purchasing an additional 4,308 shares during the period. Hedge funds and other institutional investors own 59.91% of the company’s stock.

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.