Short Interest in Hawaiian Electric Industries, Inc. (NYSE:HE) Rises By 19.2%

Hawaiian Electric Industries, Inc. (NYSE:HE - Get Free Report) saw a significant growth in short interest during the month of February. As of February 28th, there was short interest totalling 15,490,000 shares, a growth of 19.2% from the February 13th total of 12,990,000 shares. Based on an average daily trading volume, of 3,270,000 shares, the short-interest ratio is presently 4.7 days. Currently, 9.0% of the company's shares are short sold.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of HE. Zimmer Partners LP acquired a new stake in Hawaiian Electric Industries in the 3rd quarter valued at about $145,200,000. T. Rowe Price Investment Management Inc. acquired a new position in Hawaiian Electric Industries during the 4th quarter worth approximately $115,010,000. FMR LLC increased its position in shares of Hawaiian Electric Industries by 7,986.3% in the 3rd quarter. FMR LLC now owns 5,340,679 shares of the utilities provider's stock valued at $51,698,000 after purchasing an additional 5,274,633 shares during the last quarter. Horizon Kinetics Asset Management LLC acquired a new stake in shares of Hawaiian Electric Industries in the 4th quarter valued at $23,153,000. Finally, Franklin Resources Inc. raised its holdings in shares of Hawaiian Electric Industries by 656.7% in the 3rd quarter. Franklin Resources Inc. now owns 2,722,668 shares of the utilities provider's stock valued at $27,499,000 after purchasing an additional 2,362,863 shares in the last quarter. 59.91% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

HE has been the subject of a number of recent research reports. Barclays raised their target price on Hawaiian Electric Industries from $10.00 to $11.00 and gave the stock an "equal weight" rating in a research note on Tuesday, March 4th. StockNews.com cut shares of Hawaiian Electric Industries from a "hold" rating to a "sell" rating in a research report on Tuesday, February 11th. Evercore ISI upgraded shares of Hawaiian Electric Industries from an "in-line" rating to an "outperform" rating and boosted their target price for the company from $12.00 to $14.00 in a report on Friday, March 7th. Jefferies Financial Group cut their price target on shares of Hawaiian Electric Industries from $11.50 to $10.50 and set a "hold" rating for the company in a report on Friday, January 3rd. Finally, Wells Fargo & Company upped their price objective on Hawaiian Electric Industries from $11.00 to $12.50 and gave the company an "equal weight" rating in a report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $12.00.

Remove Ads

Hawaiian Electric Industries Trading Down 0.9 %

Shares of HE stock traded down $0.11 on Friday, hitting $10.98. The stock had a trading volume of 3,593,815 shares, compared to its average volume of 3,472,039. The company's 50 day moving average price is $10.11 and its 200-day moving average price is $10.18. Hawaiian Electric Industries has a 1 year low of $7.61 and a 1 year high of $18.19. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.18 and a quick ratio of 0.18. The firm has a market capitalization of $1.89 billion, a P/E ratio of -0.93 and a beta of 0.46.

Hawaiian Electric Industries (NYSE:HE - Get Free Report) last issued its quarterly earnings results on Friday, February 21st. The utilities provider reported $0.20 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.39 by ($0.19). Hawaiian Electric Industries had a positive return on equity of 11.12% and a negative net margin of 35.38%. The business had revenue of $799.18 million for the quarter. Analysts anticipate that Hawaiian Electric Industries will post 1.71 earnings per share for the current year.

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.