Hawaiian Electric Industries (NYSE:HE) Stock Price Down 6%

Hawaiian Electric Industries, Inc. (NYSE:HE) shares fell 6% during trading on Thursday . The company traded as low as $11.40 and last traded at $11.48. 1,164,295 shares changed hands during mid-day trading, a decline of 63% from the average session volume of 3,115,200 shares. The stock had previously closed at $12.21.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on HE. Evercore ISI restated an “in-line” rating and set a $16.00 target price on shares of Hawaiian Electric Industries in a research note on Wednesday, August 14th. StockNews.com upgraded shares of Hawaiian Electric Industries from a “sell” rating to a “hold” rating in a report on Saturday, August 24th. Finally, Wells Fargo & Company raised shares of Hawaiian Electric Industries from an “underweight” rating to an “equal weight” rating and set a $14.00 target price on the stock in a research report on Friday, August 23rd.

Hawaiian Electric Industries Price Performance

The company has a fifty day moving average price of $12.70 and a two-hundred day moving average price of $11.48. The firm has a market capitalization of $1.20 billion, a PE ratio of 6.43 and a beta of 0.55. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 2.62.

Hawaiian Electric Industries (NYSE:HE) last issued its quarterly earnings data on Friday, August 9th. The utilities provider reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.05). The firm had revenue of $792.30 million during the quarter. Hawaiian Electric Industries had a negative net margin of 31.76% and a positive return on equity of 10.69%. Hawaiian Electric Industries’s revenue was down .2% on a year-over-year basis.

Institutional Investors Weigh In On Hawaiian Electric Industries

Institutional investors and hedge funds have recently made changes to their positions in the business. Victory Capital Management Inc. increased its position in 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 acquiring an additional 1,700 shares during the period. Amalgamated Bank grew its stake in shares of Hawaiian Electric Industries by 82.2% in the 4th quarter. Amalgamated Bank now owns 30,323 shares of the utilities provider’s stock valued at $430,000 after purchasing an additional 13,681 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Hawaiian Electric Industries by 21.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,621,304 shares of the utilities provider’s stock valued at $23,006,000 after purchasing an additional 285,955 shares during the period. BNP Paribas Financial Markets raised its stake in shares of Hawaiian Electric Industries by 2,854.9% during the fourth quarter. BNP Paribas Financial Markets now owns 580,931 shares of the utilities provider’s stock worth $8,243,000 after purchasing an additional 561,271 shares during the last quarter. Finally, Ieq Capital LLC lifted its holdings in shares of Hawaiian Electric Industries by 12.0% during the fourth quarter. Ieq Capital LLC now owns 21,347 shares of the utilities provider’s stock worth $303,000 after purchasing an additional 2,282 shares during the period. 59.91% of the stock is owned by hedge funds and other 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.