Hawaiian Electric Industries (NYSE:HE) Trading Down 5.6%

Hawaiian Electric Industries, Inc. (NYSE:HEGet Free Report)’s stock price was down 5.6% during trading on Tuesday . The stock traded as low as $9.03 and last traded at $9.05. Approximately 1,467,575 shares were traded during mid-day trading, a decline of 37% from the average daily volume of 2,314,487 shares. The stock had previously closed at $9.59.

Analyst Ratings Changes

A number of research firms recently issued reports on HE. Wells Fargo & Company lifted their price target on Hawaiian Electric Industries from $8.50 to $9.00 and gave the company an “underweight” rating in a report on Monday, May 13th. StockNews.com raised Hawaiian Electric Industries from a “sell” rating to a “hold” rating in a report on Friday. Two investment analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. Based on data from MarketBeat.com, Hawaiian Electric Industries presently has an average rating of “Hold” and an average price target of $11.63.

Check Out Our Latest Analysis on Hawaiian Electric Industries

Hawaiian Electric Industries Trading Down 5.3 %

The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.11 and a current ratio of 0.11. The business has a 50-day simple moving average of $10.36 and a two-hundred day simple moving average of $11.89. The stock has a market cap of $1.00 billion, a price-to-earnings ratio of 5.68 and a beta of 0.61.

Hawaiian Electric Industries (NYSE:HEGet Free Report) last released its quarterly earnings results on Friday, May 10th. The utilities provider reported $0.45 earnings per share for the quarter. Hawaiian Electric Industries had a return on equity of 9.58% and a net margin of 5.16%. The firm had revenue of $897.16 million during the quarter.

Institutional Investors Weigh In On Hawaiian Electric Industries

Hedge funds have recently bought and sold shares of the company. Treasurer of the State of North Carolina increased its holdings in shares of Hawaiian Electric Industries by 0.6% during the 4th quarter. Treasurer of the State of North Carolina now owns 159,290 shares of the utilities provider’s stock worth $2,260,000 after acquiring an additional 984 shares during the last quarter. Abich Financial Wealth Management LLC increased its holdings in shares of Hawaiian Electric Industries by 54.4% during the 1st quarter. Abich Financial Wealth Management LLC now owns 3,226 shares of the utilities provider’s stock worth $36,000 after acquiring an additional 1,137 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of Hawaiian Electric Industries by 4.4% during the 4th quarter. Victory Capital Management Inc. now owns 40,311 shares of the utilities provider’s stock worth $572,000 after acquiring an additional 1,700 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its holdings in shares of Hawaiian Electric Industries by 17.0% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 12,172 shares of the utilities provider’s stock worth $137,000 after acquiring an additional 1,766 shares during the last quarter. Finally, Nisa Investment Advisors LLC grew its holdings in Hawaiian Electric Industries by 13.7% in the 4th quarter. Nisa Investment Advisors LLC now owns 15,100 shares of the utilities provider’s stock valued at $214,000 after buying an additional 1,820 shares in the last quarter. 59.91% of the stock is currently owned by institutional investors and hedge funds.

About Hawaiian Electric Industries

(Get Free Report)

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.

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