Hawaiian Electric Industries (NYSE:HE) Stock Price Down 3% - What's Next?

Hawaiian Electric Industries, Inc. (NYSE:HE - Get Free Report) traded down 3% on Thursday . The stock traded as low as $9.39 and last traded at $9.44. 599,457 shares traded hands during mid-day trading, a decline of 74% from the average session volume of 2,286,314 shares. The stock had previously closed at $9.73.

Wall Street Analysts Forecast Growth

HE has been the topic of a number of analyst reports. Jefferies Financial Group initiated coverage on Hawaiian Electric Industries in a research note on Tuesday, December 3rd. They set a "hold" rating and a $11.50 price objective on the stock. Wells Fargo & Company cut their price target on shares of Hawaiian Electric Industries from $14.00 to $11.50 and set an "equal weight" rating for the company in a research note on Monday, September 30th. Evercore ISI decreased their price objective 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. Finally, StockNews.com raised shares of Hawaiian Electric Industries from a "sell" rating to a "hold" rating in a report on Thursday, December 26th.

Hawaiian Electric Industries Stock Performance

The firm has a market cap of $1.63 billion, a price-to-earnings ratio of -0.80 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. The stock's 50 day moving average is $10.20 and its 200 day moving average is $11.07.

Hawaiian Electric Industries (NYSE:HE - Get Free Report) last posted its earnings results on Friday, November 8th. The utilities provider reported $0.46 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.07). The firm had revenue of $983.38 million during the quarter. Hawaiian Electric Industries had a negative net margin of 35.38% and a positive return on equity of 11.12%. The company's revenue was up 9.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.37 earnings per share. Analysts anticipate that Hawaiian Electric Industries, Inc. will post 1.71 earnings per share for the current year.

Hedge Funds Weigh In On Hawaiian Electric Industries

A number of hedge funds have recently bought and sold shares of HE. FORA Capital LLC acquired a new position in Hawaiian Electric Industries in the 3rd quarter valued at $692,000. Virtu Financial LLC bought a new stake in Hawaiian Electric Industries during the third quarter worth about $821,000. Franklin Resources Inc. grew its stake in Hawaiian Electric Industries by 656.7% during the third quarter. Franklin Resources Inc. now owns 2,722,668 shares of the utilities provider's stock worth $27,499,000 after buying an additional 2,362,863 shares in the last quarter. Seven Grand Managers LLC bought a new position in Hawaiian Electric Industries in the 3rd quarter valued at about $4,888,000. Finally, Bank of New York Mellon Corp raised its position in shares of Hawaiian Electric Industries by 23.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 638,156 shares of the utilities provider's stock valued at $5,756,000 after buying an additional 120,208 shares in the last quarter. 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.