Hawaiian Electric Industries (NYSE:HE) Trading Down 3% – Time to Sell?

Shares of Hawaiian Electric Industries, Inc. (NYSE:HE) fell 3% during mid-day trading on Thursday . The stock traded as low as $9.39 and last traded at $9.44. 599,457 shares changed hands during trading, a decline of 74% from the average session volume of 2,286,314 shares. The stock had previously closed at $9.73.

Analyst Ratings Changes

HE has been the subject of a number of research analyst reports. Wells Fargo & Company reduced their target price on shares of Hawaiian Electric Industries from $14.00 to $11.50 and set an “equal weight” rating for the company in a research note on Monday, September 30th. StockNews.com upgraded Hawaiian Electric Industries from a “sell” rating to a “hold” rating in a report on Thursday, December 26th. Evercore ISI cut their target price on Hawaiian Electric Industries from $11.00 to $10.00 and set an “in-line” rating on the stock in a research note on Tuesday, November 19th. Finally, Jefferies Financial Group started coverage on shares of Hawaiian Electric Industries in a research note on Tuesday, December 3rd. They set a “hold” rating and a $11.50 price target for the company.

Hawaiian Electric Industries Stock Down 2.3 %

The firm has a fifty day moving average of $10.20 and a 200-day moving average of $11.07. The company has a quick ratio of 0.18, a current ratio of 0.18 and a debt-to-equity ratio of 1.80. The firm has a market cap of $1.64 billion, a P/E ratio of -0.80 and a beta of 0.53.

Hawaiian Electric Industries (NYSE:HE) last announced its quarterly earnings data on Friday, November 8th. The utilities provider reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.07). Hawaiian Electric Industries had a positive return on equity of 11.12% and a negative net margin of 35.38%. The company had revenue of $983.38 million for the quarter. During the same quarter in the prior year, the company posted $0.37 EPS. The firm’s quarterly revenue was up 9.0% on a year-over-year basis. On average, equities research analysts anticipate that Hawaiian Electric Industries, Inc. will post 1.71 earnings per share for the current year.

Institutional Investors Weigh In On Hawaiian Electric Industries

Several hedge funds have recently bought and sold shares of the company. Bank of New York Mellon Corp lifted its holdings in Hawaiian Electric Industries by 23.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 638,156 shares of the utilities provider’s stock valued at $5,756,000 after purchasing an additional 120,208 shares during the last quarter. Principal Financial Group Inc. acquired a new position in Hawaiian Electric Industries in the 2nd quarter valued at about $98,000. Signaturefd LLC raised its holdings in 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 acquiring an additional 1,986 shares during the period. Van ECK Associates Corp lifted its position in Hawaiian Electric Industries by 9.5% during the second quarter. Van ECK Associates Corp now owns 28,481 shares of the utilities provider’s stock worth $257,000 after acquiring an additional 2,482 shares during the last quarter. Finally, Rhumbline Advisers boosted its holdings in shares of Hawaiian Electric Industries by 56.2% during the second quarter. Rhumbline Advisers now owns 175,675 shares of the utilities provider’s stock worth $1,585,000 after acquiring an additional 63,241 shares during the period. 59.91% of the stock is currently owned by institutional investors and hedge funds.

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.