Hawaiian Electric Industries (NYSE:HE) Shares Down 5.6%

Shares of Hawaiian Electric Industries, Inc. (NYSE:HE) fell 5.6% during mid-day trading on Tuesday . The stock traded as low as $9.03 and last traded at $9.05. 1,467,575 shares changed hands during mid-day trading, a decline of 37% from the average session volume of 2,314,487 shares. The stock had previously closed at $9.59.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on HE. Wells Fargo & Company boosted their price target on Hawaiian Electric Industries from $8.50 to $9.00 and gave the company an “underweight” rating in a research report on Monday, May 13th. StockNews.com upgraded Hawaiian Electric Industries from a “sell” rating to a “hold” rating in a research report on Friday, June 21st. Two investment analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. Based on data from MarketBeat, Hawaiian Electric Industries currently has an average rating of “Hold” and an average target price of $11.63.

Hawaiian Electric Industries Price Performance

The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.11 and a current ratio of 0.11. The company has a 50-day simple moving average of $10.34 and a 200-day simple moving average of $11.84. The company has a market cap of $1.01 billion, a price-to-earnings ratio of 5.44 and a beta of 0.61.

Hawaiian Electric Industries (NYSE:HE) last released its earnings results on Friday, May 10th. The utilities provider reported $0.45 earnings per share (EPS) 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 for the quarter.

Hedge Funds Weigh In On Hawaiian Electric Industries

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Gladius Capital Management LP boosted its stake in shares of Hawaiian Electric Industries by 686.9% during the 4th quarter. Gladius Capital Management LP now owns 2,109 shares of the utilities provider’s stock worth $30,000 after acquiring an additional 1,841 shares in the last quarter. New Covenant Trust Company N.A. purchased a new stake in shares of Hawaiian Electric Industries during the 1st quarter worth approximately $32,000. Abich Financial Wealth Management LLC boosted its stake in shares of Hawaiian Electric Industries by 54.4% during the 1st quarter. Abich Financial Wealth Management LLC now owns 3,226 shares of the utilities provider’s stock worth $36,000 after acquiring an additional 1,137 shares in the last quarter. Fidelis Capital Partners LLC purchased a new stake in shares of Hawaiian Electric Industries during the 1st quarter worth approximately $42,000. Finally, Cape Investment Advisory Inc. purchased a new stake in shares of Hawaiian Electric Industries during the 4th quarter worth approximately $43,000. 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.