Traders Purchase High Volume of Call Options on Hawaiian Electric Industries (NYSE:HE)

Hawaiian Electric Industries, Inc. (NYSE:HE) was the recipient of unusually large options trading on Monday. Stock traders purchased 14,401 call options on the company. This represents an increase of approximately 54% compared to the typical volume of 9,345 call options.

Hawaiian Electric Industries Stock Up 2.2 %

HE traded up $0.22 on Wednesday, hitting $10.15. 1,393,127 shares of the company were exchanged, compared to its average volume of 3,395,471. The stock’s fifty day moving average is $10.56 and its 200-day moving average is $11.15. Hawaiian Electric Industries has a 12 month low of $7.61 and a 12 month high of $18.19. The company has a debt-to-equity ratio of 2.62, a quick ratio of 0.11 and a current ratio of 0.11. The company has a market cap of $1.12 billion, a PE ratio of -0.94 and a beta of 0.54.

Hawaiian Electric Industries (NYSE:HE) last announced its quarterly earnings data on Friday, August 9th. The utilities provider reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.05). The company had revenue of $792.30 million for the quarter. Hawaiian Electric Industries had a positive return on equity of 10.69% and a negative net margin of 31.76%. The company’s revenue was down .2% on a year-over-year basis.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. New Covenant Trust Company N.A. bought a new position in shares of Hawaiian Electric Industries during the 1st quarter worth approximately $32,000. Abich Financial Wealth Management LLC lifted its holdings 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 valued at $36,000 after purchasing an additional 1,137 shares during the last quarter. Fidelis Capital Partners LLC bought a new position in Hawaiian Electric Industries during the first quarter worth $42,000. UMB Bank n.a. acquired a new position in shares of Hawaiian Electric Industries in the third quarter valued at $42,000. Finally, Signaturefd LLC raised its position in shares of Hawaiian Electric Industries by 30.8% in the second quarter. Signaturefd LLC now owns 8,437 shares of the utilities provider’s stock valued at $76,000 after purchasing an additional 1,986 shares during the period. Institutional investors own 59.91% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on HE shares. Evercore ISI dropped their target price on Hawaiian Electric Industries from $16.00 to $9.00 and set an “in-line” rating on the stock in a research report on Tuesday, September 24th. StockNews.com downgraded shares of Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a report on Friday, October 4th. Finally, Wells Fargo & Company reduced their target price on shares of Hawaiian Electric Industries from $14.00 to $11.50 and set an “equal weight” rating for the company in a report on Monday, September 30th.

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.