Hawaiian Electric Industries (NYSE:HE) Sees Unusually-High Trading Volume

Hawaiian Electric Industries, Inc. (NYSE:HE) shares saw strong trading volume on Friday . 1,455,356 shares changed hands during mid-day trading, a decline of 39% from the previous session’s volume of 2,395,613 shares.The stock last traded at $9.69 and had previously closed at $10.50.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. StockNews.com raised shares of Hawaiian Electric Industries from a “sell” rating to a “hold” rating in a report on Monday, April 15th. Evercore ISI raised their target price 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. Two investment analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $11.50.

Hawaiian Electric Industries Stock Performance

The stock has a market cap of $1.09 billion, a price-to-earnings ratio of 5.46 and a beta of 0.53. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.13 and a current ratio of 0.13. The company’s 50 day simple moving average is $11.31 and its 200 day simple moving average is $12.61.

Hawaiian Electric Industries (NYSE:HE) last released its earnings results on Tuesday, February 13th. The utilities provider reported $0.48 EPS for the quarter, meeting the consensus estimate of $0.48. The firm 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%. The firm’s quarterly revenue was down 5.7% on a year-over-year basis. During the same period in the previous year, the business posted $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.

Hedge Funds Weigh In On Hawaiian Electric Industries

Several large investors have recently made changes to their positions in the business. Treasurer of the State of North Carolina boosted its position in shares of Hawaiian Electric Industries by 0.6% during the 4th quarter. Treasurer of the State of North Carolina now owns 159,290 shares of the utilities provider’s stock valued at $2,260,000 after purchasing an additional 984 shares in the last quarter. IFM Investors Pty Ltd boosted its position in shares of Hawaiian Electric Industries by 8.5% during the 3rd quarter. IFM Investors Pty Ltd now owns 14,717 shares of the utilities provider’s stock valued at $181,000 after purchasing an additional 1,159 shares in the last quarter. Exchange Traded Concepts LLC boosted its position in shares of Hawaiian Electric Industries by 10.8% during the 3rd quarter. Exchange Traded Concepts LLC now owns 16,155 shares of the utilities provider’s stock valued at $199,000 after purchasing an additional 1,581 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of Hawaiian Electric Industries by 4.4% during the 4th quarter. Victory Capital Management Inc. now owns 40,311 shares of the utilities provider’s stock valued at $572,000 after purchasing an additional 1,700 shares in the last quarter. Finally, Gamco Investors INC. ET AL boosted its position in shares of Hawaiian Electric Industries by 3.8% during the 3rd quarter. Gamco Investors INC. ET AL now owns 47,800 shares of the utilities provider’s stock valued at $588,000 after purchasing an additional 1,742 shares in 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.