Hawaiian Electric Industries (NYSE:HE) Announces Quarterly Earnings Results

Hawaiian Electric Industries (NYSE:HE) released its quarterly earnings data on Friday. The utilities provider reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.39, Zacks reports. The firm had revenue of $790.61 million during the quarter. Hawaiian Electric Industries had a positive return on equity of 10.76% and a negative net margin of 3.66%.

Hawaiian Electric Industries Stock Down 0.2%

HE traded down $0.03 during trading on Friday, reaching $11.57. The stock had a trading volume of 2,086,701 shares, compared to its average volume of 2,163,961. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 1.52. The company has a market capitalization of $2.00 billion, a price-to-earnings ratio of -11.45 and a beta of 0.67. The stock’s 50 day moving average is $11.65 and its two-hundred day moving average is $11.12. Hawaiian Electric Industries has a one year low of $8.14 and a one year high of $13.41.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Comerica Bank grew its holdings in Hawaiian Electric Industries by 45.0% in the first quarter. Comerica Bank now owns 6,075 shares of the utilities provider’s stock worth $67,000 after purchasing an additional 1,886 shares during the period. Evergreen Capital Management LLC grew its stake in shares of Hawaiian Electric Industries by 8.0% in the 2nd quarter. Evergreen Capital Management LLC now owns 17,355 shares of the utilities provider’s stock worth $184,000 after buying an additional 1,281 shares during the last quarter. Sei Investments Co. bought a new position in Hawaiian Electric Industries during the 2nd quarter valued at approximately $190,000. Tower Research Capital LLC TRC raised its stake in Hawaiian Electric Industries by 297.2% during the second quarter. Tower Research Capital LLC TRC now owns 22,810 shares of the utilities provider’s stock valued at $242,000 after buying an additional 17,068 shares during the last quarter. Finally, State of Wyoming purchased a new position in Hawaiian Electric Industries during the second quarter valued at $279,000. 59.91% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on HE shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Hawaiian Electric Industries in a research note on Wednesday, October 8th. Jefferies Financial Group raised Hawaiian Electric Industries to a “hold” rating in a research report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $11.94.

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.