Hawaiian Electric Industries (NYSE:HE) Sees Strong Trading Volume

Shares of Hawaiian Electric Industries, Inc. (NYSE:HE) saw an uptick in trading volume on Wednesday . 7,036,125 shares changed hands during trading, an increase of 153% from the previous session’s volume of 2,784,972 shares.The stock last traded at $12.72 and had previously closed at $12.16.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on HE shares. StockNews.com lowered shares of Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a report on Tuesday. Wells Fargo & Company boosted their price target on shares of Hawaiian Electric Industries from $8.50 to $9.00 and gave the company an “underweight” rating in a research report on Monday, May 13th. Three analysts have rated the stock with a sell rating and one has given a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus target price of $11.63.

Hawaiian Electric Industries Price Performance

The stock has a fifty day moving average of $10.06 and a 200-day moving average of $11.37. The firm has a market capitalization of $1.41 billion, a P/E ratio of 7.19 and a beta of 0.57. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 1.19.

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

Institutional Investors Weigh In On Hawaiian Electric Industries

A number of institutional investors and hedge funds have recently made changes to their positions in HE. Treasurer of the State of North Carolina lifted its holdings in Hawaiian Electric Industries by 0.6% in the fourth quarter. Treasurer of the State of North Carolina now owns 159,290 shares of the utilities provider’s stock valued at $2,260,000 after buying an additional 984 shares during the period. Abich Financial Wealth Management LLC raised its position in shares of 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 acquiring an additional 1,137 shares during the last quarter. Victory Capital Management Inc. lifted its stake in shares of 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 valued at $572,000 after purchasing an additional 1,700 shares during the period. CANADA LIFE ASSURANCE Co boosted its position in shares of Hawaiian Electric Industries by 17.0% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 12,172 shares of the utilities provider’s stock worth $137,000 after purchasing an additional 1,766 shares during the last quarter. Finally, Nisa Investment Advisors LLC grew its stake in shares of Hawaiian Electric Industries by 13.7% during the fourth quarter. Nisa Investment Advisors LLC now owns 15,100 shares of the utilities provider’s stock worth $214,000 after purchasing an additional 1,820 shares during the period. Institutional investors own 59.91% of the company’s stock.

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.