Hawaiian Electric Industries (NYSE:HE) Shares Down 13.1%

Hawaiian Electric Industries, Inc. (NYSE:HE)’s stock price traded down 13.1% during mid-day trading on Monday . The company traded as low as $15.19 and last traded at $15.21. 1,722,948 shares traded hands during trading, a decline of 42% from the average session volume of 2,988,743 shares. The stock had previously closed at $17.51.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on HE shares. StockNews.com downgraded Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a report on Tuesday, July 16th. Wells Fargo & Company lifted their price target on shares of Hawaiian Electric Industries from $8.50 to $9.00 and gave the stock an “underweight” rating in a research note on Monday, May 13th. Three investment analysts have rated the stock with a sell rating and one has issued a hold rating to the company. Based on data from MarketBeat.com, Hawaiian Electric Industries has a consensus rating of “Reduce” and an average price target of $11.63.

Hawaiian Electric Industries Stock Up 1.5 %

The company has a market cap of $1.85 billion, a P/E ratio of 9.90 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. The company has a fifty day moving average of $10.61 and a 200 day moving average of $11.41.

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

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC increased its holdings in Hawaiian Electric Industries by 303.1% in the 4th quarter. SG Americas Securities LLC now owns 36,834 shares of the utilities provider’s stock worth $523,000 after acquiring an additional 27,697 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its position in shares of Hawaiian Electric Industries by 44.2% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 42,824 shares of the utilities provider’s stock valued at $608,000 after purchasing an additional 13,128 shares during the period. Assenagon Asset Management S.A. purchased a new position in shares of Hawaiian Electric Industries during the 4th quarter valued at $19,015,000. International Assets Investment Management LLC boosted its holdings in Hawaiian Electric Industries by 1,439.8% in the 4th quarter. International Assets Investment Management LLC now owns 180,867 shares of the utilities provider’s stock worth $2,567,000 after buying an additional 169,121 shares during the period. Finally, Smith Salley & Associates purchased a new stake in Hawaiian Electric Industries in the 4th quarter worth $242,000. 59.91% of the stock is currently owned by institutional investors.

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.