Hawaiian Electric Industries (NYSE:HE) Shares Gap Up – What’s Next?

Shares of Hawaiian Electric Industries, Inc. (NYSE:HE) gapped up prior to trading on Friday . The stock had previously closed at $10.40, but opened at $11.00. Hawaiian Electric Industries shares last traded at $11.76, with a volume of 931,509 shares changing hands.

Wall Street Analyst Weigh In

HE has been the topic of several recent research reports. Barclays lifted their target price on shares of Hawaiian Electric Industries from $10.00 to $11.00 and gave the company an “equal weight” rating in a research report on Tuesday. Evercore ISI raised Hawaiian Electric Industries from an “in-line” rating to an “outperform” rating and lifted their price objective for the company from $12.00 to $14.00 in a report on Friday. Jefferies Financial Group dropped their target price on Hawaiian Electric Industries from $11.50 to $10.50 and set a “hold” rating for the company in a report on Friday, January 3rd. StockNews.com lowered Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a research note on Tuesday, February 11th. Finally, Wells Fargo & Company increased their price objective on Hawaiian Electric Industries from $11.00 to $12.50 and gave the stock an “equal weight” rating in a research note on Thursday, February 27th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $12.00.

Hawaiian Electric Industries Stock Up 11.8 %

The firm has a market capitalization of $2.01 billion, a price-to-earnings ratio of -0.99 and a beta of 0.46. The firm has a fifty day moving average price of $9.71 and a 200 day moving average price of $10.20. The company has a current ratio of 0.18, a quick ratio of 0.18 and a debt-to-equity ratio of 1.80.

Hawaiian Electric Industries (NYSE:HE) last announced its earnings results on Friday, February 21st. The utilities provider reported $0.20 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.19). Hawaiian Electric Industries had a positive return on equity of 11.12% and a negative net margin of 35.38%. The business had revenue of $799.18 million for the quarter. Sell-side analysts anticipate that Hawaiian Electric Industries, Inc. will post 1.71 EPS for the current fiscal year.

Institutional Investors Weigh In On Hawaiian Electric Industries

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Virtu Financial LLC bought a new stake in shares of Hawaiian Electric Industries during the third quarter valued at approximately $821,000. FORA Capital LLC bought a new position in Hawaiian Electric Industries in the 3rd quarter valued at $692,000. Franklin Resources Inc. boosted its position in Hawaiian Electric Industries by 656.7% in the 3rd quarter. Franklin Resources Inc. now owns 2,722,668 shares of the utilities provider’s stock valued at $27,499,000 after buying an additional 2,362,863 shares during the last quarter. FMR LLC increased its stake in shares of Hawaiian Electric Industries by 7,986.3% in the 3rd quarter. FMR LLC now owns 5,340,679 shares of the utilities provider’s stock valued at $51,698,000 after buying an additional 5,274,633 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Hawaiian Electric Industries by 20.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,021,649 shares of the utilities provider’s stock worth $29,250,000 after acquiring an additional 514,989 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.