Hawaiian Electric Industries (NYSE:HE) Shares Up 3% – Still a Buy?

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

Analyst Upgrades and Downgrades

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

Hawaiian Electric Industries Trading Down 0.3 %

The company has a 50 day moving average of $10.30 and a 200-day moving average of $10.17. The stock has a market cap of $1.92 billion, a price-to-earnings ratio of -0.94 and a beta of 0.46. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.18 and a current ratio of 0.18.

Hawaiian Electric Industries (NYSE:HE) last issued 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 business had revenue of $799.18 million during the quarter. On average, research analysts anticipate that Hawaiian Electric Industries, Inc. will post 1.71 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Blue Trust Inc. lifted its position in shares of 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 purchasing an additional 2,062 shares during the last quarter. R Squared Ltd purchased a new stake in Hawaiian Electric Industries during the 4th quarter worth about $36,000. Comerica Bank boosted its position in shares of Hawaiian Electric Industries by 69.3% during the 4th quarter. Comerica Bank now owns 4,189 shares of the utilities provider’s stock worth $41,000 after acquiring an additional 1,715 shares in the last quarter. Quarry LP boosted its holdings 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 purchasing an additional 2,748 shares in the last quarter. Finally, Jones Financial Companies Lllp grew its position in shares of Hawaiian Electric Industries by 63.9% in the 4th quarter. Jones Financial Companies Lllp now owns 4,844 shares of the utilities provider’s stock valued at $47,000 after buying an additional 1,889 shares during the last quarter. Hedge funds and other 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.