Hawaiian Electric Industries (NYSE:HE) Sees Strong Trading Volume

Hawaiian Electric Industries, Inc. (NYSE:HE) shares saw an uptick in trading volume on Friday . 1,455,356 shares changed hands during trading, a decline of 39% from the previous session’s volume of 2,395,613 shares.The stock last traded at $9.69 and had previously closed at $10.50.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on HE. StockNews.com upgraded shares of Hawaiian Electric Industries from a “sell” rating to a “hold” rating in a research report on Monday, April 15th. Evercore ISI boosted their target price on shares of Hawaiian Electric Industries from $7.00 to $11.00 and gave the company an “in-line” rating in a research report on Thursday, February 15th. Two research analysts have rated the stock with a sell rating and two have given a hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $11.50.

Hawaiian Electric Industries Stock Performance

The business’s 50-day simple moving average is $11.31 and its two-hundred day simple moving average is $12.61. The firm has a market cap of $1.09 billion, a price-to-earnings ratio of 5.46 and a beta of 0.53. The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 1.21.

Hawaiian Electric Industries (NYSE:HE) last issued its quarterly earnings data on Tuesday, February 13th. The utilities provider reported $0.48 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.48. The business had revenue of $961.40 million during the quarter. Hawaiian Electric Industries had a net margin of 5.45% and a return on equity of 9.99%. The company’s revenue was down 5.7% on a year-over-year basis. During the same quarter last year, the company posted $0.52 EPS. As a group, sell-side analysts expect that Hawaiian Electric Industries, Inc. will post 1.98 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Gladius Capital Management LP increased its stake in shares of Hawaiian Electric Industries by 686.9% during the fourth quarter. Gladius Capital Management LP now owns 2,109 shares of the utilities provider’s stock worth $30,000 after purchasing an additional 1,841 shares in the last quarter. UMB Bank n.a. purchased a new stake in shares of Hawaiian Electric Industries during the third quarter worth about $27,000. Cape Investment Advisory Inc. purchased a new stake in shares of Hawaiian Electric Industries during the fourth quarter worth about $43,000. GAMMA Investing LLC purchased a new stake in shares of Hawaiian Electric Industries during the fourth quarter worth about $67,000. Finally, CWM LLC increased its stake in shares of Hawaiian Electric Industries by 49.9% during the third quarter. CWM LLC now owns 7,470 shares of the utilities provider’s stock worth $92,000 after purchasing an additional 2,488 shares in the last quarter. Institutional investors and hedge funds own 59.91% of the company’s stock.

About Hawaiian Electric Industries

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.