Hawaiian Electric Industries (NYSE:HE) Stock Price Up 9% – Here’s What Happened

Hawaiian Electric Industries, Inc. (NYSE:HE)’s stock price rose 9% during trading on Friday . The company traded as high as $14.97 and last traded at $14.8850. Approximately 2,043,868 shares changed hands during trading, a decline of 38% from the average daily volume of 3,320,382 shares. The stock had previously closed at $13.66.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on HE. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Hawaiian Electric Industries in a research report on Monday, December 29th. Jefferies Financial Group reissued a “hold” rating on shares of Hawaiian Electric Industries in a research note on Friday, December 19th. One research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $12.13.

Hawaiian Electric Industries Trading Up 8.0%

The company has a debt-to-equity ratio of 1.79, a current ratio of 1.35 and a quick ratio of 1.35. The firm has a market cap of $2.55 billion, a price-to-earnings ratio of 184.46 and a beta of 0.64. The firm’s fifty day moving average is $11.92 and its 200-day moving average is $11.57.

Hawaiian Electric Industries (NYSE:HE) last posted its quarterly earnings data on Friday, November 7th. The utilities provider reported $0.19 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $790.61 million during the quarter. Equities analysts anticipate that Hawaiian Electric Industries, Inc. will post 1.71 earnings per share for the current year.

Institutional Trading of Hawaiian Electric Industries

Several large investors have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. lifted its position in shares of Hawaiian Electric Industries by 142.2% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 2,325 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 1,365 shares during the period. Larson Financial Group LLC increased its stake in Hawaiian Electric Industries by 242.2% in the third quarter. Larson Financial Group LLC now owns 2,741 shares of the utilities provider’s stock valued at $30,000 after purchasing an additional 1,940 shares in the last quarter. SJS Investment Consulting Inc. acquired a new position in shares of Hawaiian Electric Industries during the third quarter valued at about $46,000. Farther Finance Advisors LLC boosted its position in shares of 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 worth $46,000 after purchasing an additional 1,125 shares in the last quarter. Finally, Ameritas Advisory Services LLC acquired a new stake in shares of Hawaiian Electric Industries in the 2nd quarter valued at about $47,000. Institutional investors and hedge funds own 59.91% of the company’s stock.

About Hawaiian Electric Industries

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.