Hawaiian Electric Industries (NYSE:HE) Shares Gap Down on Disappointing Earnings

Hawaiian Electric Industries, Inc. (NYSE:HE)’s share price gapped down before the market opened on Monday following a dissappointing earnings announcement. The stock had previously closed at $10.76, but opened at $10.43. Hawaiian Electric Industries shares last traded at $10.42, with a volume of 882,089 shares trading hands.

The utilities provider reported $0.20 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.19). Hawaiian Electric Industries had a positive return on equity of 11.12% and a negative net margin of 35.38%. The business had revenue of $799.18 million for the quarter.

Wall Street Analyst Weigh In

HE has been the topic of a number of recent research reports. Evercore ISI dropped their target price on Hawaiian Electric Industries from $11.00 to $10.00 and set an “in-line” rating on the stock in a report on Tuesday, November 19th. Jefferies Financial Group cut their price objective on shares of Hawaiian Electric Industries from $11.50 to $10.50 and set a “hold” rating on the stock in a report on Friday, January 3rd. StockNews.com downgraded shares of Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a report on Tuesday, February 11th. Finally, Barclays assumed coverage on shares of Hawaiian Electric Industries in a report on Thursday, February 6th. They set an “equal weight” rating and a $10.00 price target on the stock. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $10.50.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of HE. Blue Trust Inc. raised its stake in shares of Hawaiian Electric Industries by 203.0% during the 4th quarter. Blue Trust Inc. now owns 3,078 shares of the utilities provider’s stock worth $30,000 after purchasing an additional 2,062 shares during the period. R Squared Ltd purchased a new stake in Hawaiian Electric Industries during the fourth quarter worth about $36,000. KBC Group NV raised its position in Hawaiian Electric Industries by 34.8% in the third quarter. KBC Group NV now owns 3,956 shares of the utilities provider’s stock worth $38,000 after acquiring an additional 1,021 shares during the period. Comerica Bank raised its position in Hawaiian Electric Industries by 69.3% in the fourth quarter. Comerica Bank now owns 4,189 shares of the utilities provider’s stock worth $41,000 after acquiring an additional 1,715 shares during the period. Finally, Quarry LP boosted its stake in Hawaiian Electric Industries by 156.6% in the third quarter. Quarry LP now owns 4,503 shares of the utilities provider’s stock valued at $44,000 after acquiring an additional 2,748 shares during the last quarter. Institutional investors own 59.91% of the company’s stock.

Hawaiian Electric Industries Stock Down 3.6 %

The stock’s 50-day moving average price is $9.56 and its two-hundred day moving average price is $10.36. The company has a current ratio of 0.18, a quick ratio of 0.18 and a debt-to-equity ratio of 1.80. The stock has a market capitalization of $1.79 billion, a P/E ratio of -0.88 and a beta of 0.53.

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.