Hawaiian Electric Industries (NYSE:HE) Shares Down 12%

Hawaiian Electric Industries, Inc. (NYSE:HE)’s stock price traded down 12% on Tuesday . The stock traded as low as $9.16 and last traded at $9.38. 2,357,520 shares traded hands during mid-day trading, an increase of 6% from the average session volume of 2,227,914 shares. The stock had previously closed at $10.66.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. StockNews.com raised shares of Hawaiian Electric Industries from a “sell” rating to a “hold” rating in a research note on Monday. Evercore ISI lifted their price objective on shares of Hawaiian Electric Industries from $7.00 to $11.00 and gave the stock an “in-line” rating in a research report on Thursday, February 15th. Two equities research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. 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 Performance

The firm has a market cap of $989.39 million, a price-to-earnings ratio of 5.54 and a beta of 0.53. The stock has a 50 day moving average of $11.85 and a 200 day moving average of $12.73. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 1.21.

Hawaiian Electric Industries (NYSE:HE) last posted its quarterly earnings results on Tuesday, February 13th. The utilities provider reported $0.48 EPS for the quarter, meeting analysts’ consensus estimates of $0.48. The business had revenue of $961.40 million during the quarter. Hawaiian Electric Industries had a return on equity of 9.99% and a net margin of 5.45%. The firm’s revenue for the quarter was down 5.7% compared to the same quarter last year. During the same period last year, the firm earned $0.52 EPS. As a group, analysts anticipate that Hawaiian Electric Industries, Inc. will post 1.98 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Hawaiian Electric Industries by 2.1% during the third quarter. Vanguard Group Inc. now owns 12,016,050 shares of the utilities provider’s stock worth $416,476,000 after acquiring an additional 245,066 shares in the last quarter. BlackRock Inc. raised its stake in Hawaiian Electric Industries by 1.4% during the first quarter. BlackRock Inc. now owns 10,350,476 shares of the utilities provider’s stock worth $397,458,000 after acquiring an additional 138,229 shares in the last quarter. AQR Capital Management LLC grew its holdings in shares of Hawaiian Electric Industries by 1,470.8% during the third quarter. AQR Capital Management LLC now owns 6,120,053 shares of the utilities provider’s stock worth $75,338,000 after purchasing an additional 5,730,428 shares during the last quarter. State Street Corp grew its holdings in shares of Hawaiian Electric Industries by 0.9% during the third quarter. State Street Corp now owns 3,770,062 shares of the utilities provider’s stock worth $130,670,000 after purchasing an additional 31,995 shares during the last quarter. Finally, Morgan Stanley grew its holdings in shares of Hawaiian Electric Industries by 240.3% during the third quarter. Morgan Stanley now owns 2,211,650 shares of the utilities provider’s stock worth $27,225,000 after purchasing an additional 1,561,737 shares during the last quarter. Institutional investors and hedge funds own 59.91% of the company’s stock.

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.