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

Shares of Hawaiian Electric Industries, Inc. (NYSE:HE) saw unusually-strong trading volume on Wednesday . Approximately 3,034,834 shares traded hands during trading, an increase of 18% from the previous session’s volume of 2,569,981 shares.The stock last traded at $9.83 and had previously closed at $8.57.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on HE shares. StockNews.com upgraded shares of Hawaiian Electric Industries from a “sell” rating to a “hold” rating in a research note on Tuesday, July 2nd. Wells Fargo & Company raised their price objective on shares of Hawaiian Electric Industries from $8.50 to $9.00 and gave the company an “underweight” rating in a research note on Monday, May 13th. Two research analysts have rated the stock with a sell rating and two have issued a hold rating to the company. According to data from MarketBeat, Hawaiian Electric Industries presently has a consensus rating of “Hold” and an average target price of $11.63.

Hawaiian Electric Industries Stock Performance

The business’s 50 day simple moving average is $10.00 and its two-hundred day simple moving average is $11.47. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 1.19. The firm has a market capitalization of $1.21 billion, a P/E ratio of 6.47 and a beta of 0.57.

Hawaiian Electric Industries (NYSE:HE) last announced its quarterly earnings results on Friday, May 10th. The utilities provider reported $0.45 earnings per share (EPS) for the quarter. The firm had revenue of $897.16 million for the quarter. Hawaiian Electric Industries had a net margin of 5.16% and a return on equity of 9.58%.

Institutional Trading of Hawaiian Electric Industries

A number of institutional investors have recently made changes to their positions in HE. Gladius Capital Management LP grew its position in Hawaiian Electric Industries by 686.9% during the fourth quarter. Gladius Capital Management LP now owns 2,109 shares of the utilities provider’s stock valued at $30,000 after buying an additional 1,841 shares during the period. New Covenant Trust Company N.A. bought a new stake in Hawaiian Electric Industries during the first quarter valued at approximately $32,000. Cape Investment Advisory Inc. bought a new stake in Hawaiian Electric Industries during the fourth quarter valued at approximately $43,000. Abich Financial Wealth Management LLC grew its position 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 valued at $36,000 after buying an additional 1,137 shares during the period. Finally, Fidelis Capital Partners LLC bought a new stake in Hawaiian Electric Industries during the first quarter valued at approximately $42,000. Hedge funds and other institutional investors own 59.91% of the company’s stock.

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.