Hawaiian Electric Industries (NYSE:HE) Shares Up 3.4% – Should You Buy?

Hawaiian Electric Industries, Inc. (NYSE:HE) shares were up 3.4% during mid-day trading on Friday . The company traded as high as $10.22 and last traded at $10.17. Approximately 1,279,088 shares changed hands during mid-day trading, a decline of 63% from the average daily volume of 3,411,921 shares. The stock had previously closed at $9.84.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Evercore ISI increased their price objective on Hawaiian Electric Industries from $9.00 to $11.00 and gave the stock an “in-line” rating in a research report on Monday. Wells Fargo & Company dropped their target price 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. Finally, StockNews.com downgraded Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a report on Friday, October 4th.

Hawaiian Electric Industries Stock Up 5.8 %

The firm has a 50 day moving average price of $10.34 and a 200-day moving average price of $11.14. The firm has a market cap of $1.15 billion, a PE ratio of -0.90 and a beta of 0.53. The company has a current ratio of 0.18, a quick ratio of 0.11 and a debt-to-equity ratio of 1.80.

Hawaiian Electric Industries (NYSE:HE) last issued its earnings results on Friday, November 8th. The utilities provider reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.07). The firm had revenue of $983.38 million for the quarter. Hawaiian Electric Industries had a positive return on equity of 11.12% and a negative net margin of 35.38%. The company’s quarterly revenue was up 9.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.37 EPS.

Hedge Funds Weigh In On Hawaiian Electric Industries

A number of institutional investors have recently modified their holdings of HE. New Covenant Trust Company N.A. acquired a new stake in Hawaiian Electric Industries in the first quarter valued at $32,000. Abich Financial Wealth Management LLC increased its stake in 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 worth $36,000 after acquiring an additional 1,137 shares during the last quarter. KBC Group NV increased its position in shares of Hawaiian Electric Industries by 34.8% in the third quarter. KBC Group NV now owns 3,956 shares of the utilities provider’s stock worth $38,000 after acquiring an additional 1,021 shares in the last quarter. UMB Bank n.a. acquired a new stake in Hawaiian Electric Industries in the 3rd quarter valued at $42,000. Finally, Millburn Ridgefield Corp purchased a new position in Hawaiian Electric Industries in the third quarter valued at about $55,000. 59.91% of the stock is owned by institutional investors and hedge funds.

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.