Hawaiian Electric Industries (NYSE:HE) Trading Up 3.4% – Here’s Why

Hawaiian Electric Industries, Inc. (NYSE:HE) shares traded up 3.4% on Friday . The stock traded as high as $10.22 and last traded at $10.17. 1,279,088 shares changed hands during trading, a decline of 63% from the average session volume of 3,411,921 shares. The stock had previously closed at $9.84.

Analysts Set New Price Targets

Several brokerages have issued reports on HE. StockNews.com lowered Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a research note on Friday, October 4th. Wells Fargo & Company lowered their price target on Hawaiian Electric Industries from $14.00 to $11.50 and set an “equal weight” rating for the company in a research report on Monday, September 30th. Finally, Evercore ISI boosted their price objective on shares of Hawaiian Electric Industries from $9.00 to $11.00 and gave the company an “in-line” rating in a report on Monday, November 11th.

Hawaiian Electric Industries Stock Performance

The company has a current ratio of 0.18, a quick ratio of 0.11 and a debt-to-equity ratio of 1.80. The stock has a market capitalization of $1.13 billion, a PE ratio of -0.87 and a beta of 0.53. The business’s 50 day moving average is $10.30 and its 200 day moving average is $11.13.

Hawaiian Electric Industries (NYSE:HE) last issued its quarterly earnings data 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 business had revenue of $983.38 million for 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% on a year-over-year basis. During the same period in the previous year, the company posted $0.37 EPS.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of HE. Zimmer Partners LP purchased a new stake in Hawaiian Electric Industries in the third quarter valued at $145,200,000. FMR LLC increased its stake in Hawaiian Electric Industries by 7,986.3% in the third quarter. FMR LLC now owns 5,340,679 shares of the utilities provider’s stock valued at $51,698,000 after purchasing an additional 5,274,633 shares during the last quarter. AQR Capital Management LLC boosted its stake in Hawaiian Electric Industries by 52.8% during the 2nd quarter. AQR Capital Management LLC now owns 6,693,424 shares of the utilities provider’s stock worth $60,308,000 after purchasing an additional 2,312,950 shares during the period. Geode Capital Management LLC increased its stake in Hawaiian Electric Industries by 49.3% in the 3rd quarter. Geode Capital Management LLC now owns 3,793,142 shares of the utilities provider’s stock valued at $36,725,000 after buying an additional 1,253,143 shares during the period. Finally, Millennium Management LLC boosted its holdings in shares of Hawaiian Electric Industries by 79.0% in the second quarter. Millennium Management LLC now owns 1,870,088 shares of the utilities provider’s stock valued at $16,868,000 after acquiring an additional 825,073 shares in the last quarter. 59.91% of the stock is owned by hedge funds and other 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.