Hawaiian Electric Industries (NYSE:HE) Share Price Crosses Above 200 Day Moving Average – Should You Sell?

Hawaiian Electric Industries, Inc. (NYSE:HE)’s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $13.07 and traded as high as $14.75. Hawaiian Electric Industries shares last traded at $14.5680, with a volume of 2,259,276 shares traded.

Analyst Upgrades and Downgrades

HE has been the subject of several recent research reports. Wall Street Zen upgraded Hawaiian Electric Industries from a “hold” rating to a “buy” rating in a research report on Saturday, March 7th. Zacks Research raised Hawaiian Electric Industries to a “hold” rating in a report on Monday, February 9th. Barclays raised their target price on Hawaiian Electric Industries from $13.00 to $14.00 and gave the stock an “equal weight” rating in a research note on Monday, March 2nd. Weiss Ratings raised Hawaiian Electric Industries from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, March 2nd. Finally, Jefferies Financial Group cut Hawaiian Electric Industries from a “hold” rating to an “underperform” rating and decreased their price target for the company from $13.50 to $12.50 in a research report on Tuesday, January 20th. Three research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Hawaiian Electric Industries has an average rating of “Reduce” and a consensus target price of $13.25.

Hawaiian Electric Industries Trading Up 1.2%

The company has a debt-to-equity ratio of 1.74, a current ratio of 1.32 and a quick ratio of 1.32. The stock has a market cap of $2.51 billion, a P/E ratio of 20.52 and a beta of 0.62. The firm’s fifty day moving average price is $15.41 and its two-hundred day moving average price is $13.07.

Hawaiian Electric Industries (NYSE:HE) last posted its earnings results on Friday, February 27th. The utilities provider reported $0.24 EPS for the quarter, hitting the consensus estimate of $0.24. Hawaiian Electric Industries had a return on equity of 9.82% and a net margin of 4.09%.The business had revenue of $805.82 million during the quarter. As a group, equities research analysts forecast that Hawaiian Electric Industries, Inc. will post 1.71 EPS for the current year.

Institutional Investors Weigh In On Hawaiian Electric Industries

Institutional investors and hedge funds have recently bought and sold shares of the stock. Y Intercept Hong Kong Ltd raised its position in Hawaiian Electric Industries by 72.9% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 204,200 shares of the utilities provider’s stock worth $2,254,000 after purchasing an additional 86,117 shares during the period. Inspire Advisors LLC purchased a new stake in Hawaiian Electric Industries during the third quarter valued at about $1,000,000. Wealth Enhancement Advisory Services LLC bought a new position in shares of Hawaiian Electric Industries during the third quarter valued at about $344,000. Assenagon Asset Management S.A. grew its stake in shares of Hawaiian Electric Industries by 180.6% during the third quarter. Assenagon Asset Management S.A. now owns 878,253 shares of the utilities provider’s stock valued at $9,696,000 after buying an additional 565,218 shares during the last quarter. Finally, Caprock Group LLC purchased a new position in shares of Hawaiian Electric Industries in the third quarter worth about $1,332,000. 59.91% of the stock is owned by hedge funds and other institutional investors.

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.