Hawaiian Electric Industries (NYSE:HE) Trading 10.4% Higher

Hawaiian Electric Industries, Inc. (NYSE:HE)’s stock price traded up 10.4% during mid-day trading on Tuesday . The stock traded as high as $11.70 and last traded at $11.68. 3,413,103 shares were traded during trading, an increase of 25% from the average session volume of 2,727,956 shares. The stock had previously closed at $10.58.

Analyst Ratings Changes

HE has been the subject of a number of analyst reports. Wells Fargo & Company raised their price target on Hawaiian Electric Industries from $8.50 to $9.00 and gave the stock an “underweight” rating in a report on Monday, May 13th. StockNews.com upgraded Hawaiian Electric Industries from a “sell” rating to a “hold” rating in a research note on Tuesday, July 2nd. Two investment analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $11.63.

Hawaiian Electric Industries Price Performance

The company has a debt-to-equity ratio of 1.19, a current ratio of 0.11 and a quick ratio of 0.11. The business has a 50 day moving average of $10.00 and a 200 day moving average of $11.41. The company has a market cap of $1.34 billion, a PE ratio of 7.11 and a beta of 0.58.

Hawaiian Electric Industries (NYSE:HE) last issued its quarterly earnings data on Friday, May 10th. The utilities provider reported $0.45 EPS for the quarter. Hawaiian Electric Industries had a net margin of 5.16% and a return on equity of 9.58%. The business had revenue of $897.16 million during the quarter.

Hedge Funds Weigh In On Hawaiian Electric Industries

A number of institutional investors have recently added to or reduced their stakes in the company. Gladius Capital Management LP grew its position in shares of Hawaiian Electric Industries by 686.9% in the 4th quarter. Gladius Capital Management LP now owns 2,109 shares of the utilities provider’s stock worth $30,000 after buying an additional 1,841 shares during the period. New Covenant Trust Company N.A. bought a new position in shares of Hawaiian Electric Industries during the first quarter valued at approximately $32,000. Cape Investment Advisory Inc. purchased a new position in shares of Hawaiian Electric Industries during the fourth quarter valued at approximately $43,000. Abich Financial Wealth Management LLC lifted its holdings in shares of Hawaiian Electric Industries by 54.4% during the first quarter. Abich Financial Wealth Management LLC now owns 3,226 shares of the utilities provider’s stock valued at $36,000 after purchasing an additional 1,137 shares during the last quarter. Finally, Fidelis Capital Partners LLC bought a new stake in shares of Hawaiian Electric Industries in the 1st quarter worth approximately $42,000. Institutional investors own 59.91% of the company’s stock.

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.