Hawaiian Electric Industries, Inc. (NYSE:HE - Get Free Report) gapped down prior to trading on Monday following a weaker than expected earnings announcement. The stock had previously closed at $10.76, but opened at $10.43. Hawaiian Electric Industries shares last traded at $10.42, with a volume of 882,089 shares trading hands.
The utilities provider reported $0.20 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.39 by ($0.19). The business had revenue of $799.18 million for the quarter. Hawaiian Electric Industries had a negative net margin of 35.38% and a positive return on equity of 11.12%.
Analysts Set New Price Targets
A number of equities research analysts have commented on the stock. Barclays began coverage on shares of Hawaiian Electric Industries in a research note on Thursday, February 6th. They set an "equal weight" rating and a $10.00 target price on the stock. Jefferies Financial Group cut their price target on Hawaiian Electric Industries from $11.50 to $10.50 and set a "hold" rating for the company in a research note on Friday, January 3rd. Wells Fargo & Company lifted their target price on Hawaiian Electric Industries from $11.00 to $12.50 and gave the company an "equal weight" rating in a research note on Thursday. StockNews.com cut shares of Hawaiian Electric Industries from a "hold" rating to a "sell" rating in a research report on Tuesday, February 11th. Finally, Evercore ISI dropped their target price on shares of Hawaiian Electric Industries from $11.00 to $10.00 and set an "in-line" rating for the company in a research report on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. Based on data from MarketBeat.com, Hawaiian Electric Industries currently has an average rating of "Hold" and a consensus target price of $10.75.
Read Our Latest Stock Analysis on HE
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently modified their holdings of the company. Blue Trust Inc. lifted its holdings in shares of Hawaiian Electric Industries by 203.0% in the 4th quarter. Blue Trust Inc. now owns 3,078 shares of the utilities provider's stock valued at $30,000 after acquiring an additional 2,062 shares during the last quarter. R Squared Ltd purchased a new stake in Hawaiian Electric Industries during the fourth quarter valued at approximately $36,000. KBC Group NV lifted its stake in shares of Hawaiian Electric Industries by 34.8% in the 3rd quarter. KBC Group NV now owns 3,956 shares of the utilities provider's stock valued at $38,000 after purchasing an additional 1,021 shares during the last quarter. Comerica Bank boosted its holdings in shares of Hawaiian Electric Industries by 69.3% in the 4th quarter. Comerica Bank now owns 4,189 shares of the utilities provider's stock worth $41,000 after purchasing an additional 1,715 shares during the period. Finally, Quarry LP increased its position in shares of Hawaiian Electric Industries by 156.6% during the 3rd quarter. Quarry LP now owns 4,503 shares of the utilities provider's stock valued at $44,000 after purchasing an additional 2,748 shares during the last quarter. 59.91% of the stock is currently owned by institutional investors.
Hawaiian Electric Industries Trading Down 0.6 %
The company has a 50-day moving average price of $9.62 and a two-hundred day moving average price of $10.30. The stock has a market cap of $1.85 billion, a P/E ratio of -0.91 and a beta of 0.53. The company has a current ratio of 0.18, a quick ratio of 0.18 and a debt-to-equity ratio of 1.80.
Hawaiian Electric Industries Company Profile
(
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.
See Also
Before you consider Hawaiian Electric Industries, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Hawaiian Electric Industries wasn't on the list.
While Hawaiian Electric Industries currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking for the next FAANG stock before everyone has heard about it? Enter your email address to see which stocks MarketBeat analysts think might become the next trillion dollar tech company.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
