Hawaiian Electric Industries (NYSE:HE) Shares Up 4.6%

Hawaiian Electric Industries, Inc. (NYSE:HE) was up 4.6% during mid-day trading on Tuesday . The stock traded as high as $11.60 and last traded at $11.44. Approximately 765,779 shares were traded during trading, a decline of 75% from the average daily volume of 3,092,828 shares. The stock had previously closed at $10.94.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on HE shares. Evercore ISI restated an “in-line” rating and set a $16.00 target price on shares of Hawaiian Electric Industries in a research report on Wednesday, August 14th. Wells Fargo & Company upgraded shares of Hawaiian Electric Industries from an “underweight” rating to an “equal weight” rating and set a $14.00 target price on the stock in a research report on Friday, August 23rd. Finally, StockNews.com upgraded shares of Hawaiian Electric Industries from a “sell” rating to a “hold” rating in a research report on Saturday, August 24th.

Hawaiian Electric Industries Price Performance

The company has a fifty day simple moving average of $12.79 and a two-hundred day simple moving average of $11.42. 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 capitalization of $1.28 billion, a price-to-earnings ratio of 6.84 and a beta of 0.55.

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

Hedge Funds Weigh In On Hawaiian Electric Industries

Several hedge funds and other institutional investors have recently made changes to their positions in the business. AQR Capital Management LLC grew its position in Hawaiian Electric Industries by 52.8% in the second quarter. AQR Capital Management LLC now owns 6,693,424 shares of the utilities provider’s stock valued at $60,308,000 after acquiring an additional 2,312,950 shares in the last quarter. Millennium Management LLC lifted its holdings in Hawaiian Electric Industries by 79.0% in the 2nd quarter. Millennium Management LLC now owns 1,870,088 shares of the utilities provider’s stock worth $16,868,000 after buying an additional 825,073 shares in the last quarter. Verition Fund Management LLC purchased a new position in Hawaiian Electric Industries in the 4th quarter valued at about $8,944,000. BNP Paribas Financial Markets grew its stake in shares of Hawaiian Electric Industries by 2,854.9% during the fourth quarter. BNP Paribas Financial Markets now owns 580,931 shares of the utilities provider’s stock valued at $8,243,000 after acquiring an additional 561,271 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Hawaiian Electric Industries by 21.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,621,304 shares of the utilities provider’s stock worth $23,006,000 after acquiring an additional 285,955 shares during the last quarter. Institutional investors and hedge funds own 59.91% of the company’s stock.

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.