Hawaiian Electric Industries (NYSE:HE) Shares Down 4.8% - Should You Sell?

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

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Wall Street Zen raised Hawaiian Electric Industries from a "sell" rating to a "hold" rating in a research report on Monday, May 12th. 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. Jefferies Financial Group upped their price objective on Hawaiian Electric Industries from $11.00 to $11.25 and gave the company a "hold" rating in a research note on Wednesday, May 28th. Barclays upped their price objective on Hawaiian Electric Industries from $10.00 to $11.00 and gave the company an "equal weight" rating in a research note on Tuesday, March 4th. Finally, Wells Fargo & Company upped their price objective on Hawaiian Electric Industries from $11.00 to $12.50 and gave the company an "equal weight" rating in a research note on Thursday, February 27th. Four 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, Hawaiian Electric Industries has a consensus rating of "Hold" and a consensus target price of $12.19.

Hawaiian Electric Industries Stock Performance

The company has a market cap of $1.81 billion, a P/E ratio of -0.89 and a beta of 0.64. 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 stock has a 50 day moving average price of $10.37 and a two-hundred day moving average price of $10.21.

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 company had revenue of $744.07 million for the quarter. Hawaiian Electric Industries had a positive return on equity of 11.12% and a negative net margin of 35.38%. During the same quarter last year, the business posted $0.38 EPS. On average, research analysts predict that Hawaiian Electric Industries, Inc. will post 1.71 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Hawaiian Electric Industries

Hedge funds have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. increased its stake in Hawaiian Electric Industries by 14.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,471,522 shares of the utilities provider's stock worth $33,778,000 after acquiring an additional 449,873 shares during the period. Proficio Capital Partners LLC acquired a new stake in shares of Hawaiian Electric Industries in the 4th quarter valued at $142,000. Raymond James Financial Inc. acquired a new stake in shares of Hawaiian Electric Industries in the 4th quarter valued at $342,000. Geode Capital Management LLC boosted its holdings in shares of Hawaiian Electric Industries by 3.5% in the 4th 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 in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of 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 purchasing an additional 1,112,150 shares in the last quarter. Institutional investors own 59.91% of the company's stock.

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.