Hawaiian Electric Industries (NYSE:HE) Shares Pass Above 200-Day Moving Average - Should You Sell?

Hawaiian Electric Industries, Inc. (NYSE:HE - Get Free Report) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $10.27 and traded as high as $10.80. Hawaiian Electric Industries shares last traded at $10.64, with a volume of 1,263,215 shares changing hands.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on HE shares. Jefferies Financial Group boosted their price objective on Hawaiian Electric Industries from $11.00 to $11.25 and gave the company a "hold" rating in a report on Wednesday, May 28th. Wall Street Zen upgraded Hawaiian Electric Industries from a "sell" rating to a "hold" rating in a report on Monday, May 12th. Finally, Barclays decreased their price target on Hawaiian Electric Industries from $11.00 to $10.00 and set an "equal weight" rating for the company in a report on Thursday, July 10th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $11.94.

Hawaiian Electric Industries Stock Performance

The company has a market capitalization of $1.85 billion, a P/E ratio of -0.83 and a beta of 0.64. The company has a debt-to-equity ratio of 1.77, a quick ratio of 1.25 and a current ratio of 1.25. The business has a 50 day moving average of $10.64 and a 200-day moving average of $10.29.

Hawaiian Electric Industries (NYSE:HE - Get Free Report) last announced its earnings results on Friday, May 9th. The utilities provider reported $0.23 earnings per share for the quarter, hitting analysts' consensus estimates of $0.23. The business had revenue of $744.07 million for the quarter. Hawaiian Electric Industries had a positive return on equity of 12.59% and a negative net margin of 42.60%. During the same quarter in the prior year, the company earned $0.38 earnings per share. On average, sell-side analysts predict that Hawaiian Electric Industries, Inc. will post 1.71 EPS for the current fiscal year.

Hedge Funds Weigh In On Hawaiian Electric Industries

A number of institutional investors have recently added to or reduced their stakes in the business. Byrne Asset Management LLC increased its position in shares of Hawaiian Electric Industries by 34.0% during the 1st quarter. Byrne Asset Management LLC now owns 3,887 shares of the utilities provider's stock valued at $43,000 after purchasing an additional 987 shares during the last quarter. Commonwealth Equity Services LLC lifted its holdings in Hawaiian Electric Industries by 3.6% in the 4th quarter. Commonwealth Equity Services LLC now owns 31,078 shares of the utilities provider's stock worth $302,000 after buying an additional 1,080 shares during the period. Xponance Inc. lifted its holdings in Hawaiian Electric Industries by 10.9% in the 4th quarter. Xponance Inc. now owns 11,935 shares of the utilities provider's stock worth $116,000 after buying an additional 1,171 shares during the period. Diversified Trust Co lifted its holdings in Hawaiian Electric Industries by 3.2% in the 1st quarter. Diversified Trust Co now owns 42,795 shares of the utilities provider's stock worth $469,000 after buying an additional 1,340 shares during the period. Finally, MetLife Investment Management LLC lifted its stake in shares of Hawaiian Electric Industries by 1.5% in the 1st quarter. MetLife Investment Management LLC now owns 99,720 shares of the utilities provider's stock valued at $1,092,000 after purchasing an additional 1,452 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.