Hawaiian Electric Industries (NYSE:HE) Shares Gap Down to $10.97

Hawaiian Electric Industries, Inc. (NYSE:HE) shares gapped down before the market opened on Monday . The stock had previously closed at $10.97, but opened at $10.75. Hawaiian Electric Industries shares last traded at $10.97, with a volume of 186,429 shares trading hands.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. StockNews.com cut shares of Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a research note on Monday, September 16th. Wells Fargo & Company upgraded shares of Hawaiian Electric Industries from an “underweight” rating to an “equal weight” rating and set a $14.00 price target on the stock in a research report on Friday, August 23rd. Finally, Evercore ISI reiterated an “in-line” rating and issued a $16.00 price objective on shares of Hawaiian Electric Industries in a report on Wednesday, August 14th.

Hawaiian Electric Industries Trading Down 1.3 %

The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 2.62. The firm has a 50-day moving average price of $13.24 and a 200-day moving average price of $11.39. The company has a market capitalization of $1.19 billion, a price-to-earnings ratio of 6.44 and a beta of 0.55.

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

Institutional Trading of Hawaiian Electric Industries

Hedge funds and other institutional investors have recently made changes to their positions in the business. New Covenant Trust Company N.A. acquired a new position in Hawaiian Electric Industries in the first quarter worth approximately $32,000. Cape Investment Advisory Inc. acquired a new stake in shares of Hawaiian Electric Industries during the fourth quarter worth $43,000. Abich Financial Wealth Management LLC raised its position in shares of Hawaiian Electric Industries by 54.4% during 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. Fidelis Capital Partners LLC purchased a new stake in shares of Hawaiian Electric Industries during the first quarter valued at $42,000. Finally, Signaturefd LLC boosted its position in shares of Hawaiian Electric Industries by 30.8% in the 2nd quarter. Signaturefd LLC now owns 8,437 shares of the utilities provider’s stock valued at $76,000 after purchasing an additional 1,986 shares during the period. 59.91% of the stock is currently 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.