Hawaiian Electric Industries (NYSE:HE) Stock Price Up 3.3%

Hawaiian Electric Industries, Inc. (NYSE:HE) shares were up 3.3% on Thursday . The stock traded as high as $10.24 and last traded at $10.09. Approximately 616,644 shares were traded during trading, a decline of 74% from the average daily volume of 2,374,700 shares. The stock had previously closed at $9.77.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on HE shares. Evercore ISI increased 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. StockNews.com upgraded shares of Hawaiian Electric Industries from a “sell” rating to a “hold” rating in a research report on Monday. Two investment analysts have rated the stock with a sell rating and two have issued a hold rating to the company. Based on data from MarketBeat.com, Hawaiian Electric Industries presently has an average rating of “Hold” and a consensus target price of $11.50.

Hawaiian Electric Industries Price Performance

The stock has a market capitalization of $1.09 billion, a P/E ratio of 5.40 and a beta of 0.53. The business’s 50 day simple moving average is $11.66 and its two-hundred day simple moving average is $12.68. 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 released its quarterly earnings results on Tuesday, February 13th. The utilities provider reported $0.48 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.48. Hawaiian Electric Industries had a net margin of 5.45% and a return on equity of 9.99%. The company had revenue of $961.40 million for the quarter. During the same period in the previous year, the business earned $0.52 earnings per share. The firm’s revenue for the quarter was down 5.7% on a year-over-year basis. As a group, sell-side analysts forecast that Hawaiian Electric Industries, Inc. will post 1.98 earnings per share for the current fiscal year.

Institutional Trading of Hawaiian Electric Industries

A number of large investors have recently added to or reduced their stakes in HE. Raymond James & Associates increased its holdings in 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 buying an additional 1,065 shares during the last quarter. American Century Companies Inc. increased its holdings in Hawaiian Electric Industries by 17.8% during the first quarter. American Century Companies Inc. now owns 15,808 shares of the utilities provider’s stock worth $669,000 after buying an additional 2,388 shares during the last quarter. Natixis Advisors L.P. purchased a new position in shares of Hawaiian Electric Industries in the first quarter worth about $465,000. Bank of Montreal Can increased its stake in shares of Hawaiian Electric Industries by 3.0% in the first quarter. Bank of Montreal Can now owns 13,673 shares of the utilities provider’s stock worth $584,000 after purchasing an additional 403 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Hawaiian Electric Industries in the first quarter worth about $757,000. Hedge funds and other institutional investors 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.