Hawaiian Electric Industries (NYSE:HE) Trading Down 5.8% – Should You Sell?

Hawaiian Electric Industries, Inc. (NYSE:HE)’s share price traded down 5.8% during trading on Friday . The stock traded as low as $11.63 and last traded at $11.4750. 4,130,733 shares changed hands during mid-day trading, an increase of 81% from the average session volume of 2,280,000 shares. The stock had previously closed at $12.18.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on HE shares. Weiss Ratings reissued a “sell (d)” rating on shares of Hawaiian Electric Industries in a research note on Monday, December 15th. Jefferies Financial Group reiterated a “hold” rating on shares of Hawaiian Electric Industries in a report on Friday. One research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $12.13.

Hawaiian Electric Industries Trading Down 6.0%

The business has a 50-day moving average of $11.60 and a 200-day moving average of $11.34. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.79. The stock has a market cap of $1.98 billion, a price-to-earnings ratio of 143.13 and a beta of 0.64.

Hawaiian Electric Industries (NYSE:HE) last posted its quarterly earnings results on Friday, November 7th. The utilities provider reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.39. The company had revenue of $790.61 million during the quarter. Hawaiian Electric Industries had a return on equity of 9.51% and a net margin of 0.56%. As a group, research analysts forecast that Hawaiian Electric Industries, Inc. will post 1.71 earnings per share for the current year.

Institutional Trading of Hawaiian Electric Industries

Large investors have recently added to or reduced their stakes in the business. Invesco Ltd. lifted its stake in shares of Hawaiian Electric Industries by 3.4% in the 1st quarter. Invesco Ltd. now owns 232,545 shares of the utilities provider’s stock valued at $2,546,000 after purchasing an additional 7,706 shares during the last quarter. Nuveen LLC bought a new position in Hawaiian Electric Industries during the first quarter valued at about $5,895,000. HighTower Advisors LLC acquired a new stake in shares of Hawaiian Electric Industries in the first quarter worth about $553,000. Russell Investments Group Ltd. boosted its stake in shares of Hawaiian Electric Industries by 54.4% during the 1st quarter. Russell Investments Group Ltd. now owns 6,976 shares of the utilities provider’s stock worth $76,000 after acquiring an additional 2,457 shares in the last quarter. Finally, American Century Companies Inc. boosted its stake in shares of Hawaiian Electric Industries by 19.8% during the 1st quarter. American Century Companies Inc. now owns 267,865 shares of the utilities provider’s stock worth $2,933,000 after acquiring an additional 44,205 shares in the last quarter. 59.91% of the stock is owned by institutional investors.

Hawaiian Electric Industries Company Profile

Hawaiian Electric Industries, Inc is a diversified holding company operating in the energy and financial services sectors in the state of Hawaii. Its principal subsidiary, Hawaiian Electric Company, provides generation, transmission, distribution and customer service to the island of Oahu, while its Maui Electric and Hawaii Electric Light Company subsidiaries serve Maui, Molokai, Lanai and Hawaii Island. The roots of the electric utility business trace back to 1891 when service first commenced in Honolulu.

Through its subsidiary Hawaii Gas, HEI extends its energy portfolio to include the distribution of natural gas and propane, supporting residential, commercial and industrial customers across the islands.