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

Hawaiian Electric Industries, Inc. (NYSE:HE)’s stock price rose 3.3% during trading on Thursday . The company traded as high as $10.24 and last traded at $10.09. Approximately 616,644 shares changed hands during mid-day 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

HE has been the topic of a number of recent analyst reports. Evercore ISI lifted 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 report on Thursday, February 15th. StockNews.com upgraded shares of Hawaiian Electric Industries from a “sell” rating to a “hold” rating in a research note on Monday. Two equities research analysts have rated the stock with a sell rating and two have given a hold rating to the company’s stock. According to MarketBeat, Hawaiian Electric Industries presently has an average rating of “Hold” and an average price target of $11.50.

Hawaiian Electric Industries Stock Up 0.8 %

The business’s fifty day simple moving average is $11.66 and its 200 day simple moving average is $12.68. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 1.21. The stock has a market cap of $1.09 billion, a price-to-earnings ratio of 5.40 and a beta of 0.53.

Hawaiian Electric Industries (NYSE:HE) last released its earnings results on Tuesday, February 13th. The utilities provider reported $0.48 EPS for the quarter, hitting analysts’ consensus estimates of $0.48. The firm had revenue of $961.40 million during 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% on a year-over-year basis. During the same period in the prior year, the firm posted $0.52 EPS. Equities analysts forecast that Hawaiian Electric Industries, Inc. will post 1.98 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Hawaiian Electric Industries

A number of hedge funds and other institutional investors have recently made changes to their positions in HE. Raymond James & Associates boosted its position in shares of Hawaiian Electric Industries by 7.5% during the first quarter. Raymond James & Associates now owns 15,301 shares of the utilities provider’s stock worth $647,000 after purchasing an additional 1,065 shares in the last quarter. American Century Companies Inc. lifted its position in Hawaiian Electric Industries by 17.8% in the 1st quarter. American Century Companies Inc. now owns 15,808 shares of the utilities provider’s stock valued at $669,000 after acquiring an additional 2,388 shares in the last quarter. Natixis Advisors L.P. bought a new stake in Hawaiian Electric Industries during the 1st quarter worth about $465,000. Bank of Montreal Can lifted its position in Hawaiian Electric Industries by 3.0% during the 1st quarter. Bank of Montreal Can now owns 13,673 shares of the utilities provider’s stock worth $584,000 after buying an additional 403 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Hawaiian Electric Industries during the 1st quarter worth about $757,000. 59.91% of the stock is owned by institutional investors.

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.