Hawaiian Electric Industries (NYSE:HE) Sees Unusually-High Trading Volume

Shares of Hawaiian Electric Industries, Inc. (NYSE:HE) saw strong trading volume on Tuesday . 9,430,872 shares changed hands during mid-day trading, an increase of 201% from the previous session’s volume of 3,134,451 shares.The stock last traded at $9.81 and had previously closed at $10.90.

Wall Street Analysts Forecast Growth

HE has been the topic of several research reports. StockNews.com lowered shares of Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a report on Monday, September 16th. Evercore ISI reiterated an “in-line” rating and set a $16.00 price target on shares of Hawaiian Electric Industries in a report on Wednesday, August 14th. Finally, Wells Fargo & Company upgraded Hawaiian Electric Industries from an “underweight” rating to an “equal weight” rating and set a $14.00 price target for the company in a research note on Friday, August 23rd.

Hawaiian Electric Industries Trading Down 9.2 %

The business’s fifty day moving average is $13.25 and its 200-day moving average is $11.39. The company has a debt-to-equity ratio of 2.62, a quick ratio of 0.11 and a current ratio of 0.11. The firm has a market cap of $1.09 billion, a P/E ratio of 5.66 and a beta of 0.55.

Hawaiian Electric Industries (NYSE:HE) last released its quarterly earnings results on Friday, August 9th. The utilities provider reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.05). Hawaiian Electric Industries had a negative net margin of 31.76% and a positive return on equity of 10.69%. The business had revenue of $792.30 million for the quarter. The firm’s quarterly revenue was down .2% on a year-over-year basis.

Institutional Trading of Hawaiian Electric Industries

Several institutional investors have recently added to or reduced their stakes in the stock. Treasurer of the State of North Carolina raised its position in shares of Hawaiian Electric Industries by 0.6% in the 4th quarter. Treasurer of the State of North Carolina now owns 159,290 shares of the utilities provider’s stock worth $2,260,000 after acquiring an additional 984 shares in the last quarter. Abich Financial Wealth Management LLC boosted its position 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 purchasing an additional 1,137 shares in the last quarter. IMS Capital Management grew its stake in shares of Hawaiian Electric Industries by 2.5% in the 2nd quarter. IMS Capital Management now owns 51,957 shares of the utilities provider’s stock valued at $469,000 after buying an additional 1,257 shares during the period. CANADA LIFE ASSURANCE Co increased its position in Hawaiian Electric Industries by 17.0% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 12,172 shares of the utilities provider’s stock valued at $137,000 after buying an additional 1,766 shares in the last quarter. Finally, Signaturefd LLC raised its stake in Hawaiian Electric Industries by 30.8% during the 2nd quarter. Signaturefd LLC now owns 8,437 shares of the utilities provider’s stock worth $76,000 after buying an additional 1,986 shares during the period. 59.91% of the stock is currently owned by institutional investors.

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.