Hawaiian Electric Industries (NYSE:HE) Shares Gap Up – Time to Buy?

Hawaiian Electric Industries, Inc. (NYSE:HE) gapped up before the market opened on Monday . The stock had previously closed at $9.75, but opened at $10.13. Hawaiian Electric Industries shares last traded at $10.10, with a volume of 1,795,090 shares changing hands.

Analyst Upgrades and Downgrades

Several research firms have recently commented on HE. Wells Fargo & Company reduced their price target on shares of Hawaiian Electric Industries from $14.00 to $11.50 and set an “equal weight” rating for the company in a report on Monday, September 30th. StockNews.com downgraded Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a research note on Friday, October 4th. Finally, Evercore ISI dropped their price objective on shares of Hawaiian Electric Industries from $16.00 to $9.00 and set an “in-line” rating on the stock in a report on Tuesday, September 24th.

Hawaiian Electric Industries Stock Performance

The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 2.62. The firm has a market cap of $1.12 billion, a price-to-earnings ratio of -0.96 and a beta of 0.54. The business’s 50-day simple moving average is $10.64 and its two-hundred day simple moving average is $11.16.

Hawaiian Electric Industries (NYSE:HE) last issued its quarterly earnings data on Friday, August 9th. The utilities provider reported $0.44 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.05). Hawaiian Electric Industries had a negative net margin of 31.76% and a positive return on equity of 10.69%. The business had revenue of $792.30 million during the quarter. The company’s revenue for the quarter was down .2% compared to the same quarter last year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HE. Wellington Management Group LLP acquired a new stake in shares of Hawaiian Electric Industries in the fourth quarter valued at about $2,370,000. PNC Financial Services Group Inc. raised its holdings in Hawaiian Electric Industries by 44.8% in the 4th quarter. PNC Financial Services Group Inc. now owns 14,601 shares of the utilities provider’s stock valued at $207,000 after acquiring an additional 4,515 shares during the last quarter. Oak Thistle LLC purchased a new position in Hawaiian Electric Industries in the 1st quarter worth approximately $312,000. Norden Group LLC acquired a new position in shares of Hawaiian Electric Industries during the 1st quarter worth approximately $261,000. Finally, Capstone Investment Advisors LLC increased its holdings in shares of Hawaiian Electric Industries by 113.0% in the first quarter. Capstone Investment Advisors LLC now owns 35,268 shares of the utilities provider’s stock valued at $397,000 after purchasing an additional 18,708 shares during the last quarter. Hedge funds and other 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.