Hawaiian Electric Industries (NYSE:HE) Hits New 52-Week High – Here’s What Happened

Hawaiian Electric Industries, Inc. (NYSE:HE) shares hit a new 52-week high on Thursday . The company traded as high as $15.06 and last traded at $15.1750, with a volume of 1071272 shares changing hands. The stock had previously closed at $14.72.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Jefferies Financial Group downgraded shares of Hawaiian Electric Industries from a “hold” rating to an “underperform” rating and lowered their price objective for the stock from $13.50 to $12.50 in a research report on Tuesday. Barclays upped their target price on shares of Hawaiian Electric Industries from $10.00 to $11.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 15th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Hawaiian Electric Industries in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus target price of $12.50.

Hawaiian Electric Industries Stock Performance

The company has a debt-to-equity ratio of 1.79, a current ratio of 1.35 and a quick ratio of 1.35. The stock’s 50-day moving average price is $12.35 and its 200 day moving average price is $11.76. The firm has a market cap of $2.60 billion, a P/E ratio of 188.00 and a beta of 0.64.

Hawaiian Electric Industries (NYSE:HE) last issued its quarterly earnings results on Friday, November 7th. The utilities provider reported $0.19 EPS for the quarter, topping the consensus estimate of ($0.20) by $0.39. Hawaiian Electric Industries had a net margin of 0.56% and a return on equity of 9.51%. The firm had revenue of $790.61 million for the quarter. As a group, equities analysts predict that Hawaiian Electric Industries, Inc. will post 1.71 EPS for the current year.

Institutional Investors Weigh In On Hawaiian Electric Industries

Several large investors have recently made changes to their positions in HE. Northwestern Mutual Wealth Management Co. grew its stake in shares of Hawaiian Electric Industries by 142.2% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 2,325 shares of the utilities provider’s stock valued at $26,000 after buying an additional 1,365 shares in the last quarter. Larson Financial Group LLC lifted its stake in Hawaiian Electric Industries by 242.2% in the third quarter. Larson Financial Group LLC now owns 2,741 shares of the utilities provider’s stock valued at $30,000 after acquiring an additional 1,940 shares during the last quarter. SJS Investment Consulting Inc. acquired a new stake in Hawaiian Electric Industries in the third quarter valued at $46,000. Farther Finance Advisors LLC grew its position in shares of Hawaiian Electric Industries by 37.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 4,125 shares of the utilities provider’s stock valued at $46,000 after acquiring an additional 1,125 shares during the period. Finally, Ameritas Advisory Services LLC acquired a new position in shares of Hawaiian Electric Industries during the 2nd quarter worth about $47,000. Institutional investors and hedge funds own 59.91% of the company’s stock.

About Hawaiian Electric Industries

Hawaiian Electric Industries, Inc is a diversified holding company operating in the energy and financial services sectors in the state of Hawaii. Its principal subsidiary, Hawaiian Electric Company, provides generation, transmission, distribution and customer service to the island of Oahu, while its Maui Electric and Hawaii Electric Light Company subsidiaries serve Maui, Molokai, Lanai and Hawaii Island. The roots of the electric utility business trace back to 1891 when service first commenced in Honolulu.

Through its subsidiary Hawaii Gas, HEI extends its energy portfolio to include the distribution of natural gas and propane, supporting residential, commercial and industrial customers across the islands.