Hawaiian Electric Industries (NYSE:HE) Trading Down 12%

Hawaiian Electric Industries, Inc. (NYSE:HE - Get Free Report) dropped 12% on Tuesday . The company traded as low as $9.16 and last traded at $9.38. Approximately 2,357,520 shares were traded during mid-day trading, an increase of 6% from the average daily volume of 2,227,914 shares. The stock had previously closed at $10.66.

Analysts Set New Price Targets

HE has been the subject of a number of research analyst reports. Evercore ISI upped their price target on shares of Hawaiian Electric Industries from $7.00 to $11.00 and gave the company an "in-line" rating in a report on Thursday, February 15th. StockNews.com raised shares of Hawaiian Electric Industries from a "sell" rating to a "hold" rating in a report on Monday. Two investment analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. According to MarketBeat.com, Hawaiian Electric Industries has a consensus rating of "Hold" and a consensus target price of $11.50.

Hawaiian Electric Industries Stock Down 10.7 %

The company has a quick ratio of 0.13, a current ratio of 0.13 and a debt-to-equity ratio of 1.21. The company has a market capitalization of $1.05 billion, a PE ratio of 5.25 and a beta of 0.53. The business's 50 day simple moving average is $11.80 and its 200 day simple moving average is $12.72.

Hawaiian Electric Industries (NYSE:HE - Get Free Report) last posted its quarterly earnings data on Tuesday, February 13th. The utilities provider reported $0.48 EPS for the quarter, meeting analysts' consensus estimates of $0.48. Hawaiian Electric Industries had a net margin of 5.45% and a return on equity of 9.99%. The company had revenue of $961.40 million during the quarter. During the same period in the prior year, the company posted $0.52 earnings per share. Hawaiian Electric Industries's quarterly revenue was down 5.7% compared to the same quarter last year. As a group, analysts forecast that Hawaiian Electric Industries, Inc. will post 1.98 EPS for the current year.

Hedge Funds Weigh In On Hawaiian Electric Industries

A number of large investors have recently made changes to their positions in the business. Thrivent Financial for Lutherans increased its holdings in shares of Hawaiian Electric Industries by 0.9% in the 3rd quarter. Thrivent Financial for Lutherans now owns 28,973 shares of the utilities provider's stock valued at $1,004,000 after purchasing an additional 264 shares during the period. Bank of Montreal Can increased its holdings in shares of Hawaiian Electric Industries by 3.0% in the 1st quarter. Bank of Montreal Can now owns 13,673 shares of the utilities provider's stock valued at $584,000 after purchasing an additional 403 shares during the period. Public Employees Retirement System of Ohio increased its holdings in shares of Hawaiian Electric Industries by 0.8% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 61,142 shares of the utilities provider's stock valued at $2,119,000 after purchasing an additional 473 shares during the period. Ameriprise Financial Inc. increased its holdings in Hawaiian Electric Industries by 0.3% in the first quarter. Ameriprise Financial Inc. now owns 185,720 shares of the utilities provider's stock worth $7,132,000 after buying an additional 514 shares during the last quarter. Finally, Captrust Financial Advisors increased its holdings in Hawaiian Electric Industries by 6.7% in the fourth quarter. Captrust Financial Advisors now owns 10,541 shares of the utilities provider's stock worth $441,000 after buying an additional 658 shares during the last quarter. Institutional investors and hedge funds 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.