Hawaiian Electric Industries (NYSE:HE) Trading Up 3.3%

Hawaiian Electric Industries, Inc. (NYSE:HE)’s share price was up 3.3% during mid-day trading on Thursday . The company traded as high as $10.24 and last traded at $10.09. Approximately 616,644 shares traded hands during trading, a decline of 74% from the average daily volume of 2,374,700 shares. The stock had previously closed at $9.77.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Evercore ISI raised their price target on shares of Hawaiian Electric Industries from $7.00 to $11.00 and gave the company an “in-line” rating in a research note on Thursday, February 15th. StockNews.com upgraded Hawaiian Electric Industries from a “sell” rating to a “hold” rating in a research report on Monday, April 15th. Two investment analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $11.50.

Hawaiian Electric Industries Stock Performance

The stock has a market cap of $1.20 billion, a price-to-earnings ratio of 6.03 and a beta of 0.53. The company’s 50 day simple moving average is $11.56 and its 200 day simple moving average is $12.65. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.13 and a current ratio of 0.13.

Hawaiian Electric Industries (NYSE:HE) last posted its quarterly earnings data on Tuesday, February 13th. The utilities provider reported $0.48 EPS for the quarter, meeting analysts’ consensus estimates of $0.48. The business had revenue of $961.40 million for the quarter. Hawaiian Electric Industries had a net margin of 5.45% and a return on equity of 9.99%. Hawaiian Electric Industries’s revenue was down 5.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.52 EPS. On average, equities research analysts anticipate that Hawaiian Electric Industries, Inc. will post 1.98 earnings per share for the current year.

Institutional Trading of Hawaiian Electric Industries

A number of hedge funds and other institutional investors have recently modified their holdings of HE. AQR Capital Management LLC grew its holdings in Hawaiian Electric Industries by 1,470.8% during the third quarter. AQR Capital Management LLC now owns 6,120,053 shares of the utilities provider’s stock worth $75,338,000 after acquiring an additional 5,730,428 shares during the period. Morgan Stanley raised its holdings in shares of Hawaiian Electric Industries by 240.3% in the 3rd quarter. Morgan Stanley now owns 2,211,650 shares of the utilities provider’s stock worth $27,225,000 after purchasing an additional 1,561,737 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in Hawaiian Electric Industries during the fourth quarter valued at approximately $19,015,000. Qube Research & Technologies Ltd boosted its holdings in Hawaiian Electric Industries by 7,788.3% during the third quarter. Qube Research & Technologies Ltd now owns 1,190,815 shares of the utilities provider’s stock worth $14,659,000 after buying an additional 1,175,719 shares in the last quarter. Finally, Jupiter Asset Management Ltd. grew its position in Hawaiian Electric Industries by 636.1% in the third quarter. Jupiter Asset Management Ltd. now owns 1,209,258 shares of the utilities provider’s stock worth $14,886,000 after buying an additional 1,044,978 shares during the last quarter. Institutional investors 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.