Hawaiian Electric Industries (NYSE:HE) Sees Large Volume Increase

Hawaiian Electric Industries, Inc. (NYSE:HE) saw unusually-high trading volume on Friday . Approximately 1,455,356 shares traded hands during trading, a decline of 39% from the previous session’s volume of 2,395,613 shares.The stock last traded at $9.69 and had previously closed at $10.50.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. StockNews.com upgraded shares of Hawaiian Electric Industries from a “sell” rating to a “hold” rating in a report on Monday, April 15th. Evercore ISI boosted their price target on shares of Hawaiian Electric Industries from $7.00 to $11.00 and gave the stock an “in-line” rating in a research note on Thursday, February 15th. Two analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $11.50.

Hawaiian Electric Industries Price Performance

The company has a market cap of $1.09 billion, a PE ratio of 5.28 and a beta of 0.53. The business has a 50 day moving average of $11.38 and a 200 day moving average of $12.63. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.13 and a quick ratio of 0.13.

Hawaiian Electric Industries (NYSE:HE) last released its quarterly earnings results on Tuesday, February 13th. The utilities provider reported $0.48 earnings per share for the quarter, meeting the consensus estimate of $0.48. Hawaiian Electric Industries had a return on equity of 9.99% and a net margin of 5.45%. The company had revenue of $961.40 million for the quarter. During the same quarter in the prior year, the firm earned $0.52 earnings per share. The company’s revenue for the quarter was down 5.7% compared to the same quarter last year. As a group, research analysts predict that Hawaiian Electric Industries, Inc. will post 1.98 EPS for the current year.

Institutional Investors Weigh In On Hawaiian Electric Industries

Several large investors have recently bought and sold shares of the business. UMB Bank n.a. bought a new position in Hawaiian Electric Industries during the 3rd quarter valued at about $27,000. Gladius Capital Management LP grew its position in Hawaiian Electric Industries by 686.9% in the 4th quarter. Gladius Capital Management LP now owns 2,109 shares of the utilities provider’s stock worth $30,000 after purchasing an additional 1,841 shares during the period. Newbridge Financial Services Group Inc. purchased a new stake in Hawaiian Electric Industries during the 3rd quarter valued at $35,000. Cape Investment Advisory Inc. bought a new position in shares of Hawaiian Electric Industries during the 4th quarter valued at $43,000. Finally, GAMMA Investing LLC purchased a new position in shares of Hawaiian Electric Industries in the 4th quarter worth $67,000. 59.91% of the stock is currently 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.