Hawaiian Electric Industries (NYSE:HE) Reaches New 12-Month Low at $8.65

Hawaiian Electric Industries, Inc. (NYSE:HE) shares reached a new 52-week low during trading on Monday . The stock traded as low as $8.65 and last traded at $8.68, with a volume of 1251245 shares. The stock had previously closed at $9.02.

Wall Street Analyst Weigh In

Several brokerages have recently commented on HE. StockNews.com raised shares of Hawaiian Electric Industries from a “sell” rating to a “hold” rating in a research note on Tuesday. Wells Fargo & Company upped 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. Two analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $11.63.

Hawaiian Electric Industries Trading Up 3.9 %

The firm has a market capitalization of $937.55 million, a PE ratio of 5.03 and a beta of 0.58. The firm has a 50 day simple moving average of $10.18 and a 200 day simple moving average of $11.68. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 1.19.

Hawaiian Electric Industries (NYSE:HE) last issued its quarterly earnings data on Friday, May 10th. The utilities provider reported $0.45 earnings per share for the quarter. The company 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%.

Hedge Funds Weigh In On Hawaiian Electric Industries

Institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC increased its holdings in Hawaiian Electric Industries by 82.3% in the 2nd quarter. GAMMA Investing LLC now owns 9,540 shares of the utilities provider’s stock worth $86,000 after acquiring an additional 4,308 shares in the last quarter. Abich Financial Wealth Management LLC boosted its position in shares of Hawaiian Electric Industries by 54.4% in the first quarter. Abich Financial Wealth Management LLC now owns 3,226 shares of the utilities provider’s stock worth $36,000 after purchasing an additional 1,137 shares during the period. Keynote Financial Services LLC purchased a new stake in shares of Hawaiian Electric Industries in the first quarter worth $230,000. Cetera Advisors LLC bought a new stake in shares of Hawaiian Electric Industries during the 1st quarter valued at $182,000. Finally, Virtu Financial LLC lifted its stake in shares of Hawaiian Electric Industries by 70.2% during the 1st quarter. Virtu Financial LLC now owns 48,193 shares of the utilities provider’s stock valued at $543,000 after buying an additional 19,883 shares in the last quarter. 59.91% of the stock is owned by institutional investors.

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.