Hawaiian Electric Industries (NYSE:HE) Shares Up 3% – Time to Buy?

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

Analysts Set New Price Targets

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

Hawaiian Electric Industries Trading Down 0.5 %

The firm has a market cap of $1.92 billion, a P/E ratio of -0.94 and a beta of 0.46. The company has a current ratio of 0.18, a quick ratio of 0.18 and a debt-to-equity ratio of 1.80. The stock has a 50 day simple moving average of $10.34 and a 200-day simple moving average of $10.17.

Hawaiian Electric Industries (NYSE:HE) last posted 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, equities research analysts expect that Hawaiian Electric Industries, Inc. will post 1.71 EPS for the current fiscal year.

Institutional Trading of Hawaiian Electric Industries

Several institutional investors have recently modified their holdings of HE. Zimmer Partners LP purchased a new position in shares of Hawaiian Electric Industries during the 3rd quarter worth $145,200,000. T. Rowe Price Investment Management Inc. purchased a new position in Hawaiian Electric Industries during the 4th quarter worth $115,010,000. FMR LLC boosted its holdings in Hawaiian Electric Industries by 7,986.3% in the 3rd quarter. FMR LLC now owns 5,340,679 shares of the utilities provider’s stock valued at $51,698,000 after purchasing an additional 5,274,633 shares in the last quarter. Horizon Kinetics Asset Management LLC purchased a new position in Hawaiian Electric Industries in the 4th quarter valued at approximately $23,153,000. Finally, Franklin Resources Inc. grew its holdings in Hawaiian Electric Industries by 656.7% during the 3rd quarter. Franklin Resources Inc. now owns 2,722,668 shares of the utilities provider’s stock valued at $27,499,000 after buying an additional 2,362,863 shares during the last quarter. Institutional investors and hedge funds 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.