Hawaiian Electric Industries (NYSE:HE) Trading Down 4.8% - Here's Why

Shares of Hawaiian Electric Industries, Inc. (NYSE:HE - Get Free Report) were down 4.8% during trading on Wednesday . The stock traded as low as $10.23 and last traded at $10.23. Approximately 1,615,613 shares traded hands during mid-day trading, a decline of 53% from the average daily volume of 3,422,753 shares. The stock had previously closed at $10.75.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on HE shares. Wells Fargo & Company boosted their price target on shares of Hawaiian Electric Industries from $11.00 to $12.50 and gave the stock an "equal weight" rating in a report on Thursday, February 27th. Jefferies Financial Group boosted their target price on Hawaiian Electric Industries from $11.00 to $11.25 and gave the stock a "hold" rating in a research note on Wednesday, May 28th. Barclays increased their price target on Hawaiian Electric Industries from $10.00 to $11.00 and gave the company an "equal weight" rating in a research report on Tuesday, March 4th. Wall Street Zen upgraded Hawaiian Electric Industries from a "sell" rating to a "hold" rating in a report on Monday, May 12th. Finally, Evercore ISI upgraded Hawaiian Electric Industries from an "in-line" rating to an "outperform" rating and upped their price objective for the company from $12.00 to $14.00 in a research note on Friday, March 7th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Hawaiian Electric Industries presently has a consensus rating of "Hold" and a consensus price target of $12.19.

Hawaiian Electric Industries Trading Down 0.2%

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 $1.80 billion, a P/E ratio of -0.88 and a beta of 0.64. The firm's 50-day simple moving average is $10.36 and its 200 day simple moving average is $10.21.

Hawaiian Electric Industries (NYSE:HE - Get Free Report) last posted its quarterly earnings results on Friday, May 9th. The utilities provider reported $0.23 EPS for the quarter, hitting analysts' consensus estimates of $0.23. Hawaiian Electric Industries had a negative net margin of 35.38% and a positive return on equity of 11.12%. The company had revenue of $744.07 million for the quarter. During the same period last year, the firm posted $0.38 EPS. As a group, analysts expect that Hawaiian Electric Industries, Inc. will post 1.71 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in HE. Vanguard Group Inc. raised its stake in Hawaiian Electric Industries by 6.5% in the 4th quarter. Vanguard Group Inc. now owns 18,231,969 shares of the utilities provider's stock valued at $177,397,000 after acquiring an additional 1,112,150 shares during the period. Zimmer Partners LP increased its stake in shares of Hawaiian Electric Industries by 1.4% in the fourth quarter. Zimmer Partners LP now owns 15,202,552 shares of the utilities provider's stock worth $147,921,000 after purchasing an additional 202,552 shares in the last quarter. T. Rowe Price Investment Management Inc. bought a new stake in shares of Hawaiian Electric Industries in the fourth quarter valued at approximately $115,010,000. Geode Capital Management LLC raised its position in shares of Hawaiian Electric Industries by 3.5% in the fourth quarter. Geode Capital Management LLC now owns 3,925,882 shares of the utilities provider's stock valued at $38,208,000 after purchasing an additional 132,740 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Hawaiian Electric Industries by 6.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,687,636 shares of the utilities provider's stock valued at $40,380,000 after buying an additional 216,114 shares in the last quarter. Hedge funds and other institutional investors own 59.91% of the company's stock.

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.