Hawaiian Electric Industries (NYSE:HE) Shares Gap Up - Should You Buy?

Shares of Hawaiian Electric Industries, Inc. (NYSE:HE - Get Free Report) gapped up prior to trading on Friday . The stock had previously closed at $10.40, but opened at $11.00. Hawaiian Electric Industries shares last traded at $11.76, with a volume of 931,509 shares trading hands.

Analysts Set New Price Targets

HE has been the topic of several recent research reports. Evercore ISI raised Hawaiian Electric Industries from an "in-line" rating to an "outperform" rating and boosted their price target for the stock from $12.00 to $14.00 in a research report on Friday. Wells Fargo & Company boosted their target price on shares of Hawaiian Electric Industries from $11.00 to $12.50 and gave the stock an "equal weight" rating in a research report on Thursday, February 27th. StockNews.com lowered shares of Hawaiian Electric Industries from a "hold" rating to a "sell" rating in a report on Tuesday, February 11th. Barclays lifted their price target 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 Tuesday, March 4th. Finally, Jefferies Financial Group decreased their price objective on shares of Hawaiian Electric Industries from $11.50 to $10.50 and set a "hold" rating for the company in a research report on Friday, January 3rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $12.00.

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Hawaiian Electric Industries Stock Performance

The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.18 and a current ratio of 0.18. The company has a 50 day moving average price of $9.80 and a 200 day moving average price of $10.17. The company has a market capitalization of $1.93 billion, a PE ratio of -0.94 and a beta of 0.46.

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

Institutional Trading of Hawaiian Electric Industries

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Blue Trust Inc. lifted its holdings in Hawaiian Electric Industries by 203.0% during the 4th quarter. Blue Trust Inc. now owns 3,078 shares of the utilities provider's stock worth $30,000 after buying an additional 2,062 shares during the last quarter. R Squared Ltd bought a new position in Hawaiian Electric Industries during the fourth quarter worth $36,000. KBC Group NV boosted its holdings in Hawaiian Electric Industries by 34.8% in the third quarter. KBC Group NV now owns 3,956 shares of the utilities provider's stock worth $38,000 after purchasing an additional 1,021 shares during the period. Comerica Bank increased its stake in Hawaiian Electric Industries by 69.3% during the fourth quarter. Comerica Bank now owns 4,189 shares of the utilities provider's stock valued at $41,000 after purchasing an additional 1,715 shares during the last quarter. Finally, Quarry LP raised its holdings in shares of Hawaiian Electric Industries by 156.6% during the third quarter. Quarry LP now owns 4,503 shares of the utilities provider's stock worth $44,000 after purchasing an additional 2,748 shares during the period. 59.91% of the stock is owned by institutional investors.

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.