Hawaiian Electric Industries (NYSE:HE) Shares Gap Down to $12.00

Hawaiian Electric Industries, Inc. (NYSE:HE) gapped down before the market opened on Wednesday . The stock had previously closed at $12.00, but opened at $11.71. Hawaiian Electric Industries shares last traded at $12.09, with a volume of 302,808 shares traded.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. StockNews.com lowered shares of Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a report on Friday, August 16th. Wells Fargo & Company lifted their target price on Hawaiian Electric Industries from $9.00 to $14.00 and gave the stock an “underweight” rating in a research report on Monday, August 12th. Finally, Evercore ISI reissued an “in-line” rating and issued a $16.00 price target on shares of Hawaiian Electric Industries in a report on Wednesday, August 14th.

Hawaiian Electric Industries Trading Down 0.2 %

The company has a market cap of $1.32 billion, a P/E ratio of 7.10 and a beta of 0.57. The business has a fifty day simple moving average of $12.27 and a 200 day simple moving average of $11.61. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.11 and a current ratio of 0.11.

Hawaiian Electric Industries (NYSE:HE) last posted its quarterly earnings results on Friday, August 9th. The utilities provider reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.05). The firm had revenue of $792.30 million for the quarter. Hawaiian Electric Industries had a net margin of 5.16% and a return on equity of 9.58%. The company’s revenue for the quarter was down .2% compared to the same quarter last year.

Hedge Funds Weigh In On Hawaiian Electric Industries

Institutional investors have recently made changes to their positions in the stock. Treasurer of the State of North Carolina grew its position in shares of Hawaiian Electric Industries by 0.6% during the fourth quarter. Treasurer of the State of North Carolina now owns 159,290 shares of the utilities provider’s stock worth $2,260,000 after acquiring an additional 984 shares during the last quarter. Abich Financial Wealth Management LLC boosted its stake in Hawaiian Electric Industries by 54.4% during the 1st 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 period. Victory Capital Management Inc. grew its position in Hawaiian Electric Industries by 4.4% in the 4th quarter. Victory Capital Management Inc. now owns 40,311 shares of the utilities provider’s stock worth $572,000 after purchasing an additional 1,700 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its stake in shares of Hawaiian Electric Industries by 17.0% in the first quarter. CANADA LIFE ASSURANCE Co now owns 12,172 shares of the utilities provider’s stock valued at $137,000 after purchasing an additional 1,766 shares during the period. Finally, Gladius Capital Management LP raised its holdings in shares of Hawaiian Electric Industries by 686.9% during the fourth quarter. Gladius Capital Management LP now owns 2,109 shares of the utilities provider’s stock valued at $30,000 after buying an additional 1,841 shares during the last quarter. 59.91% of the stock is owned by institutional investors.

About Hawaiian Electric Industries

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.