Hawaiian Electric Industries (NYSE:HE) Sees Unusually-High Trading Volume – Still a Buy?

Shares of Hawaiian Electric Industries, Inc. (NYSE:HE) saw unusually-strong trading volume on Wednesday . Approximately 2,683,405 shares changed hands during mid-day trading, an increase of 10% from the previous session’s volume of 2,442,042 shares.The stock last traded at $12.4210 and had previously closed at $12.61.

Analyst Ratings Changes

HE has been the subject of a number of research reports. Jefferies Financial Group reiterated a “hold” rating on shares of Hawaiian Electric Industries in a research report on Friday, December 19th. Weiss Ratings reiterated a “sell (d)” rating on shares of Hawaiian Electric Industries in a research report on Monday. One research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $12.13.

Hawaiian Electric Industries Trading Down 2.4%

The company has a 50-day moving average price of $11.71 and a two-hundred day moving average price of $11.43. The stock has a market cap of $2.12 billion, a P/E ratio of 153.88 and a beta of 0.64. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.79.

Hawaiian Electric Industries (NYSE:HE) last issued its quarterly earnings results on Friday, November 7th. The utilities provider reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.39. Hawaiian Electric Industries had a return on equity of 9.51% and a net margin of 0.56%.The company had revenue of $790.61 million during the quarter. On average, research analysts expect that Hawaiian Electric Industries, Inc. will post 1.71 EPS for the current fiscal year.

Institutional Trading of Hawaiian Electric Industries

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HE. Northwestern Mutual Wealth Management Co. boosted its position in shares of Hawaiian Electric Industries by 142.2% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 2,325 shares of the utilities provider’s stock valued at $26,000 after buying an additional 1,365 shares during the period. Larson Financial Group LLC lifted its stake in shares of Hawaiian Electric Industries by 242.2% during the 3rd quarter. Larson Financial Group LLC now owns 2,741 shares of the utilities provider’s stock worth $30,000 after acquiring an additional 1,940 shares during the last quarter. SJS Investment Consulting Inc. purchased a new position in Hawaiian Electric Industries during the 3rd quarter valued at $46,000. Farther Finance Advisors LLC boosted its holdings in Hawaiian Electric Industries by 37.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 4,125 shares of the utilities provider’s stock valued at $46,000 after acquiring an additional 1,125 shares during the period. Finally, Ameritas Advisory Services LLC bought a new position in Hawaiian Electric Industries in the 2nd quarter valued at $47,000. 59.91% of the stock is owned by hedge funds and other institutional investors.

Hawaiian Electric Industries Company Profile

Hawaiian Electric Industries, Inc is a diversified holding company operating in the energy and financial services sectors in the state of Hawaii. Its principal subsidiary, Hawaiian Electric Company, provides generation, transmission, distribution and customer service to the island of Oahu, while its Maui Electric and Hawaii Electric Light Company subsidiaries serve Maui, Molokai, Lanai and Hawaii Island. The roots of the electric utility business trace back to 1891 when service first commenced in Honolulu.

Through its subsidiary Hawaii Gas, HEI extends its energy portfolio to include the distribution of natural gas and propane, supporting residential, commercial and industrial customers across the islands.