Hawaiian Electric Industries (NYSE:HE) Hits New 52-Week High – Time to Buy?

Hawaiian Electric Industries, Inc. (NYSE:HE) reached a new 52-week high on Wednesday . The company traded as high as $15.69 and last traded at $15.4150, with a volume of 439496 shares trading hands. The stock had previously closed at $15.40.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on HE. Jefferies Financial Group downgraded Hawaiian Electric Industries from a “hold” rating to an “underperform” rating and dropped their target price for the stock from $13.50 to $12.50 in a research report on Tuesday, January 20th. Barclays upped their price objective on shares of Hawaiian Electric Industries from $11.00 to $13.00 and gave the company a “positive” rating in a research note on Monday. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Hawaiian Electric Industries in a research report on Monday, December 29th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $13.00.

Hawaiian Electric Industries Stock Up 2.0%

The company has a market capitalization of $2.71 billion, a P/E ratio of 195.94 and a beta of 0.64. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.79. The stock’s fifty day moving average is $12.63 and its 200 day moving average is $11.89.

Hawaiian Electric Industries (NYSE:HE) last released its quarterly earnings data on Friday, November 7th. The utilities provider reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.39. The firm had revenue of $790.61 million for the quarter. Hawaiian Electric Industries had a net margin of 0.56% and a return on equity of 9.51%. Research analysts predict that Hawaiian Electric Industries, Inc. will post 1.71 EPS for the current fiscal year.

Hedge Funds Weigh In On Hawaiian Electric Industries

Hedge funds have recently made changes to their positions in the business. Optas LLC lifted its stake in Hawaiian Electric Industries by 25.8% in the fourth quarter. Optas LLC now owns 13,782 shares of the utilities provider’s stock worth $170,000 after acquiring an additional 2,829 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Hawaiian Electric Industries by 18.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 37,464 shares of the utilities provider’s stock worth $461,000 after purchasing an additional 5,913 shares in the last quarter. CWM LLC lifted its position in shares of Hawaiian Electric Industries by 41.3% in the 4th quarter. CWM LLC now owns 3,210 shares of the utilities provider’s stock worth $39,000 after purchasing an additional 939 shares during the period. Atlas Wealth Partners LLC boosted its stake in shares of Hawaiian Electric Industries by 19.9% during the 4th quarter. Atlas Wealth Partners LLC now owns 99,577 shares of the utilities provider’s stock valued at $1,225,000 after purchasing an additional 16,500 shares in the last quarter. Finally, Farther Finance Advisors LLC increased its position in shares of Hawaiian Electric Industries by 91.6% during the fourth quarter. Farther Finance Advisors LLC now owns 7,903 shares of the utilities provider’s stock valued at $97,000 after buying an additional 3,778 shares during the period. 59.91% of the stock is owned by hedge funds and other institutional investors.

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.