Shares of Hawaiian Electric Industries Inc. (NYSE:HE) fell 6.2% during mid-day trading on Monday . The stock traded as low as $30.41 and last traded at $30.46, with a volume of 1,558,405 shares trading hands. The stock had previously closed at $32.48.

Separately, Zacks Investment Research cut Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a report on Monday, April 11th.

The firm has a market capitalization of $3.29 billion and a price-to-earnings ratio of 20.53. The firm has a 50-day moving average price of $33.05 and a 200-day moving average price of $31.54.

Hawaiian Electric Industries (NYSE:HE) last posted its quarterly earnings results on Wednesday, May 4th. The company reported $0.31 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.37 by $0.06. The company earned $550.96 million during the quarter, compared to analysts’ expectations of $588.65 million. During the same quarter in the previous year, the business posted $0.35 EPS. Hawaiian Electric Industries’s quarterly revenue was down 13.6% on a year-over-year basis. On average, equities analysts predict that Hawaiian Electric Industries Inc. will post $1.70 earnings per share for the current year.

Several hedge funds have bought and sold shares of HE. Russell Frank Co increased its stake in Hawaiian Electric Industries by 20.9% in the fourth quarter. Russell Frank Co now owns 65,793 shares of the company’s stock worth $1,918,000 after buying an additional 11,373 shares during the period. Liberty Mutual Group Asset Management Inc. boosted its position in shares of Hawaiian Electric Industries by 51.4% in the fourth quarter. Liberty Mutual Group Asset Management Inc. now owns 69,226 shares of the company’s stock valued at $2,004,000 after buying an additional 23,500 shares in the last quarter. Bank of Montreal Can boosted its position in shares of Hawaiian Electric Industries by 3.9% in the fourth quarter. Bank of Montreal Can now owns 112,267 shares of the company’s stock valued at $3,249,000 after buying an additional 4,204 shares in the last quarter. Rhumbline Advisers boosted its position in shares of Hawaiian Electric Industries by 1.5% in the fourth quarter. Rhumbline Advisers now owns 152,014 shares of the company’s stock valued at $4,401,000 after buying an additional 2,289 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its position in shares of Hawaiian Electric Industries by 1.0% in the fourth quarter. Principal Financial Group Inc. now owns 338,892 shares of the company’s stock valued at $9,811,000 after buying an additional 3,342 shares in the last quarter.

Hawaiian Electric Industries, Inc (HEI) is a holding company with its principal subsidiaries engaged in electric utility and banking businesses operating primarily in the State of Hawaii. The Company’s segments include Electric utility, Bank and Other. The Company operates its electric utility business through Hawaiian Electric Company, Inc and its subsidiaries, Hawaii Electric Light Company, Inc and Maui Electric Company, Limited (Maui Electric).

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