Hawaiian Electric Industries (NYSE:HE) Sees Large Volume Increase

Hawaiian Electric Industries, Inc. (NYSE:HE) shares saw strong trading volume on Friday . Approximately 1,455,356 shares were traded during 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

Several brokerages have recently weighed in on HE. Evercore ISI upped 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. StockNews.com raised Hawaiian Electric Industries from a “sell” rating to a “hold” rating in a research note on Monday, April 15th. Two research analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $11.50.

Hawaiian Electric Industries Stock Performance

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 has a market capitalization of $1.09 billion, a P/E ratio of 5.28 and a beta of 0.53. The firm has a 50 day moving average price of $11.38 and a two-hundred day moving average price of $12.63.

Hawaiian Electric Industries (NYSE:HE) last announced its earnings results on Tuesday, February 13th. The utilities provider reported $0.48 EPS for the quarter, hitting the consensus estimate of $0.48. The company had revenue of $961.40 million for the quarter. Hawaiian Electric Industries had a return on equity of 9.99% and a net margin of 5.45%. Hawaiian Electric Industries’s revenue for the quarter was down 5.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.52 EPS. On average, research analysts expect 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

Hedge funds and other institutional investors have recently made changes to their positions in the company. UMB Bank n.a. acquired a new stake in shares of Hawaiian Electric Industries in the 3rd quarter valued at approximately $27,000. Gladius Capital Management LP boosted its holdings in shares of Hawaiian Electric Industries by 686.9% during the 4th quarter. Gladius Capital Management LP now owns 2,109 shares of the utilities provider’s stock worth $30,000 after buying an additional 1,841 shares during the period. Newbridge Financial Services Group Inc. acquired a new position in Hawaiian Electric Industries in the 3rd quarter valued at about $35,000. Cape Investment Advisory Inc. bought a new position in Hawaiian Electric Industries in the 4th quarter valued at about $43,000. Finally, GAMMA Investing LLC acquired a new stake in Hawaiian Electric Industries during the fourth quarter worth approximately $67,000. 59.91% of the stock is owned by institutional investors.

Hawaiian Electric Industries Company Profile

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.