Hawaiian Electric Industries (NYSE:HE) Shares Down 2.5%

Hawaiian Electric Industries, Inc. (NYSE:HE)’s stock price was down 2.5% during mid-day trading on Friday . The stock traded as low as $10.47 and last traded at $10.67. Approximately 1,622,612 shares were traded during trading, a decline of 40% from the average daily volume of 2,691,854 shares. The stock had previously closed at $10.94.

Analyst Upgrades and Downgrades

Several research firms have recently commented on HE. Wells Fargo & Company lifted their target price on Hawaiian Electric Industries from $8.50 to $9.00 and gave the company an “underweight” rating in a research note on Monday, May 13th. StockNews.com upgraded shares of Hawaiian Electric Industries from a “sell” rating to a “hold” rating in a research report on Tuesday, July 2nd. Two investment analysts have rated the stock with a sell rating and two have issued a hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $11.63.

Hawaiian Electric Industries Stock Performance

The stock has a 50 day moving average price of $10.00 and a two-hundred day moving average price of $11.47. The company has a market cap of $1.15 billion, a P/E ratio of 6.47 and a beta of 0.57. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 1.19.

Hawaiian Electric Industries (NYSE:HE) last posted its quarterly earnings data on Friday, May 10th. The utilities provider reported $0.45 earnings per share for the quarter. The firm had revenue of $897.16 million for the quarter. Hawaiian Electric Industries had a return on equity of 9.58% and a net margin of 5.16%.

Institutional Investors Weigh In On Hawaiian Electric Industries

Large investors have recently bought and sold shares of the company. Gladius Capital Management LP boosted its stake in Hawaiian Electric Industries by 686.9% in the fourth quarter. Gladius Capital Management LP now owns 2,109 shares of the utilities provider’s stock valued at $30,000 after buying an additional 1,841 shares in the last quarter. New Covenant Trust Company N.A. bought a new stake in shares of Hawaiian Electric Industries during the 1st quarter valued at approximately $32,000. Abich Financial Wealth Management LLC increased its position in Hawaiian Electric Industries by 54.4% during the 1st quarter. Abich Financial Wealth Management LLC now owns 3,226 shares of the utilities provider’s stock worth $36,000 after purchasing an additional 1,137 shares in the last quarter. Fidelis Capital Partners LLC acquired a new position in shares of Hawaiian Electric Industries during the first quarter worth $42,000. Finally, Cape Investment Advisory Inc. bought a new position in shares of Hawaiian Electric Industries in the 4th quarter valued at $43,000. 59.91% of the stock is currently owned by institutional investors and hedge funds.

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.