Hawaiian Electric Industries (NYSE:HE) Trading Down 2.5%

Hawaiian Electric Industries, Inc. (NYSE:HE)’s share price dropped 2.5% during mid-day trading on Friday . The stock traded as low as $10.47 and last traded at $10.67. Approximately 1,622,612 shares changed hands during trading, a decline of 40% from the average daily volume of 2,691,854 shares. The stock had previously closed at $10.94.

Wall Street Analysts Forecast Growth

HE has been the subject of several recent analyst reports. Wells Fargo & Company increased their price objective on Hawaiian Electric Industries from $8.50 to $9.00 and gave the stock an “underweight” rating in a research note on Monday, May 13th. StockNews.com upgraded Hawaiian Electric Industries from a “sell” rating to a “hold” rating in a research note on Tuesday, July 2nd. Two analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $11.63.

Hawaiian Electric Industries Stock Performance

The company has a market capitalization of $1.15 billion, a price-to-earnings ratio of 6.17 and a beta of 0.57. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.11 and a quick ratio of 0.11. The stock has a 50 day moving average price of $10.00 and a two-hundred day moving average price of $11.43.

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

Institutional Trading of Hawaiian Electric Industries

A number of hedge funds and other institutional investors have recently made changes to their positions in HE. Wedmont Private Capital acquired a new stake in shares of Hawaiian Electric Industries in the fourth quarter valued at $183,000. SG Americas Securities LLC boosted its holdings in Hawaiian Electric Industries by 303.1% in the fourth quarter. SG Americas Securities LLC now owns 36,834 shares of the utilities provider’s stock valued at $523,000 after acquiring an additional 27,697 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its holdings in Hawaiian Electric Industries by 44.2% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 42,824 shares of the utilities provider’s stock valued at $608,000 after acquiring an additional 13,128 shares during the last quarter. Assenagon Asset Management S.A. bought a new position in Hawaiian Electric Industries in the fourth quarter valued at about $19,015,000. Finally, International Assets Investment Management LLC boosted its holdings in Hawaiian Electric Industries by 1,439.8% in the fourth quarter. International Assets Investment Management LLC now owns 180,867 shares of the utilities provider’s stock valued at $2,567,000 after acquiring an additional 169,121 shares during the last quarter. 59.91% of the stock is currently 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.