Hawaiian Electric Industries (NYSE:HE) Trading Up 3% - Here's Why

Hawaiian Electric Industries, Inc. (NYSE:HE - Get Free Report) was up 3% during mid-day trading on Friday . The company traded as high as $11.47 and last traded at $11.51. Approximately 1,117,357 shares were traded during mid-day trading, a decline of 68% from the average daily volume of 3,459,343 shares. The stock had previously closed at $11.17.

Analyst Upgrades and Downgrades

Several research analysts have commented on HE shares. Wells Fargo & Company increased their price objective on shares of Hawaiian Electric Industries from $11.00 to $12.50 and gave the company an "equal weight" rating in a report on Thursday, February 27th. Jefferies Financial Group lowered their target price on 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. Evercore ISI raised shares of Hawaiian Electric Industries from an "in-line" rating to an "outperform" rating and upped their price target for the company from $12.00 to $14.00 in a research note on Friday, March 7th. Barclays boosted 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 report on Tuesday, March 4th. Finally, StockNews.com downgraded shares of Hawaiian Electric Industries from a "hold" rating to a "sell" rating in a report on Tuesday, February 11th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $12.00.

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Hawaiian Electric Industries Stock Up 0.2 %

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 stock has a market cap of $1.89 billion, a P/E ratio of -0.93 and a beta of 0.46. The company's fifty day moving average price is $10.37 and its 200-day moving average price is $10.16.

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 for the quarter, missing the consensus estimate 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 during the quarter. Equities analysts forecast that Hawaiian Electric Industries, Inc. will post 1.71 EPS for the current year.

Institutional Investors Weigh In On Hawaiian Electric Industries

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Blue Trust Inc. increased its position in shares of Hawaiian Electric Industries by 203.0% during the fourth quarter. Blue Trust Inc. now owns 3,078 shares of the utilities provider's stock worth $30,000 after acquiring an additional 2,062 shares during the period. R Squared Ltd purchased a new position in Hawaiian Electric Industries during the 4th quarter worth $36,000. Comerica Bank raised its position in Hawaiian Electric Industries by 69.3% during the 4th 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 in the last quarter. Quarry LP increased its position in 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 period. Finally, Jones Financial Companies Lllp raised its stake in Hawaiian Electric Industries by 63.9% in the fourth quarter. Jones Financial Companies Lllp now owns 4,844 shares of the utilities provider's stock worth $47,000 after buying an additional 1,889 shares in the last quarter. Institutional investors own 59.91% of the company's stock.

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.