Hawaiian Electric Industries (NYSE:HE) Trading Up 3% – Time to Buy?

Hawaiian Electric Industries, Inc. (NYSE:HE) traded up 3% during trading on Friday . The stock traded as high as $11.47 and last traded at $11.51. 1,117,357 shares traded hands during mid-day trading, a decline of 68% from the average session volume of 3,459,343 shares. The stock had previously closed at $11.17.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Jefferies Financial Group dropped their price objective on Hawaiian Electric Industries from $11.50 to $10.50 and set a “hold” rating for the company in a report on Friday, January 3rd. Evercore ISI upgraded shares of Hawaiian Electric Industries from an “in-line” rating to an “outperform” rating and increased their price target for the stock from $12.00 to $14.00 in a research note on Friday, March 7th. Barclays lifted their price target on Hawaiian Electric Industries from $10.00 to $11.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 4th. Wells Fargo & Company increased their price objective on Hawaiian Electric Industries from $11.00 to $12.50 and gave the company an “equal weight” rating in a research report on Thursday, February 27th. Finally, StockNews.com cut shares of Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a research note on Tuesday, February 11th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $12.00.

Hawaiian Electric Industries Stock Performance

The stock’s fifty day simple moving average is $10.34 and its 200 day simple moving average is $10.17. 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 company has a market cap of $1.92 billion, a price-to-earnings ratio of -0.94 and a beta of 0.46.

Hawaiian Electric Industries (NYSE:HE) last announced its quarterly earnings results on Friday, February 21st. 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 negative net margin of 35.38% and a positive return on equity of 11.12%. The company had revenue of $799.18 million during the quarter. As a group, analysts anticipate that Hawaiian Electric Industries, Inc. will post 1.71 earnings per share for the current year.

Institutional Trading of Hawaiian Electric Industries

Several hedge funds have recently bought and sold shares of the company. Blue Trust Inc. boosted its position in 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 acquiring an additional 2,062 shares during the period. R Squared Ltd acquired a new position in shares of Hawaiian Electric Industries in the fourth quarter valued at $36,000. 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 purchasing an additional 1,715 shares in the last quarter. Quarry LP grew its position 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 period. Finally, Jones Financial Companies Lllp increased its position in shares of Hawaiian Electric Industries by 63.9% during the 4th quarter. Jones Financial Companies Lllp now owns 4,844 shares of the utilities provider’s stock worth $47,000 after purchasing an additional 1,889 shares in the last quarter. 59.91% of the stock is currently owned by institutional investors.

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.