Hawaiian Electric Industries (NYSE:HE) Stock Price Up 3% – Here’s Why

Shares of Hawaiian Electric Industries, Inc. (NYSE:HE) rose 3% on Friday . The stock traded as high as $11.47 and last traded at $11.51. Approximately 1,117,357 shares changed hands 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.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on HE. StockNews.com cut Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a research note on Tuesday, February 11th. Barclays upped their price objective on shares of Hawaiian Electric Industries from $10.00 to $11.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 4th. Evercore ISI raised shares of Hawaiian Electric Industries from an “in-line” rating to an “outperform” rating and lifted 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 lifted 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 research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $12.00.

Hawaiian Electric Industries Stock Down 0.3 %

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 company has a market capitalization of $1.92 billion, a price-to-earnings ratio of -0.94 and a beta of 0.46. The firm’s 50-day simple moving average is $10.30 and its two-hundred day simple moving average is $10.17.

Hawaiian Electric Industries (NYSE:HE) last released its quarterly earnings results on Friday, February 21st. The utilities provider reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.19). The firm had revenue of $799.18 million during the quarter. Hawaiian Electric Industries had a positive return on equity of 11.12% and a negative net margin of 35.38%. Sell-side analysts predict that Hawaiian Electric Industries, Inc. will post 1.71 EPS for the current fiscal year.

Institutional Trading of Hawaiian Electric Industries

Large investors have recently modified their holdings of the business. Blue Trust Inc. lifted its stake in 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 buying an additional 2,062 shares in the last quarter. R Squared Ltd acquired a new position in shares of Hawaiian Electric Industries in the fourth quarter worth $36,000. Comerica Bank lifted its position in shares of Hawaiian Electric Industries by 69.3% in the fourth quarter. Comerica Bank now owns 4,189 shares of the utilities provider’s stock valued at $41,000 after acquiring an additional 1,715 shares in the last quarter. Quarry LP boosted its stake 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 valued at $44,000 after acquiring an additional 2,748 shares during the last quarter. Finally, Jones Financial Companies Lllp boosted its stake in shares of Hawaiian Electric Industries by 63.9% during the fourth quarter. Jones Financial Companies Lllp now owns 4,844 shares of the utilities provider’s stock valued at $47,000 after acquiring an additional 1,889 shares during the last quarter. 59.91% of the stock is currently owned by institutional investors and hedge funds.

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.