Hawaiian Electric Industries (NYSE:HE) Sets New 12-Month High – What’s Next?

Hawaiian Electric Industries, Inc. (NYSE:HE)’s share price reached a new 52-week high on Wednesday . The company traded as high as $15.69 and last traded at $15.4150, with a volume of 439496 shares trading hands. The stock had previously closed at $15.40.

Analyst Upgrades and Downgrades

HE has been the topic of a number of research reports. Barclays lifted their price target on shares of Hawaiian Electric Industries from $11.00 to $13.00 and gave the stock a “positive” rating in a report on Monday. Weiss Ratings restated a “sell (d)” rating on shares of Hawaiian Electric Industries in a research note on Monday, December 29th. Finally, Jefferies Financial Group cut Hawaiian Electric Industries from a “hold” rating to an “underperform” rating and dropped their price target for the company from $13.50 to $12.50 in a research report on Tuesday, January 20th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $13.00.

Hawaiian Electric Industries Stock Performance

The company has a 50-day moving average price of $12.63 and a two-hundred day moving average price of $11.89. 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 capitalization of $2.71 billion, a P/E ratio of 195.94 and a beta of 0.64.

Hawaiian Electric Industries (NYSE:HE) last posted its 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 business had revenue of $790.61 million for the quarter. Hawaiian Electric Industries had a net margin of 0.56% and a return on equity of 9.51%. Equities analysts expect that Hawaiian Electric Industries, Inc. will post 1.71 earnings per share for the current year.

Institutional Trading of Hawaiian Electric Industries

A number of large investors have recently modified their holdings of HE. Horizon Kinetics Asset Management LLC increased its position in shares of Hawaiian Electric Industries by 28.6% in the second quarter. Horizon Kinetics Asset Management LLC now owns 16,281,709 shares of the utilities provider’s stock worth $173,075,000 after purchasing an additional 3,624,709 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Hawaiian Electric Industries by 153.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,243,332 shares of the utilities provider’s stock worth $13,726,000 after buying an additional 753,549 shares during the last quarter. Assenagon Asset Management S.A. raised its position in shares of Hawaiian Electric Industries by 180.6% during the 3rd quarter. Assenagon Asset Management S.A. now owns 878,253 shares of the utilities provider’s stock valued at $9,696,000 after buying an additional 565,218 shares in the last quarter. CSM Advisors LLC bought a new stake in shares of Hawaiian Electric Industries during the 2nd quarter worth $5,440,000. Finally, Quantinno Capital Management LP grew its position in Hawaiian Electric Industries by 56.0% in the second quarter. Quantinno Capital Management LP now owns 1,324,999 shares of the utilities provider’s stock worth $14,085,000 after acquiring an additional 475,443 shares in the last quarter. Institutional investors own 59.91% of the company’s stock.

About Hawaiian Electric Industries

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.