Hawaiian Electric Industries, Inc. (NYSE:HE) Sees Significant Increase in Short Interest

Hawaiian Electric Industries, Inc. (NYSE:HE) saw a large growth in short interest in the month of December. As of December 15th, there was short interest totaling 14,054,762 shares, a growth of 49.3% from the November 30th total of 9,413,603 shares. Currently, 8.2% of the shares of the stock are short sold. Based on an average daily trading volume, of 4,378,002 shares, the short-interest ratio is presently 3.2 days. Based on an average daily trading volume, of 4,378,002 shares, the short-interest ratio is presently 3.2 days. Currently, 8.2% of the shares of the stock are short sold.

Hedge Funds Weigh In On Hawaiian Electric Industries

Hedge funds and other institutional investors have recently modified their holdings of the stock. Horizon Kinetics Asset Management LLC grew its holdings in shares of Hawaiian Electric Industries by 28.6% in the 2nd quarter. Horizon Kinetics Asset Management LLC now owns 16,281,709 shares of the utilities provider’s stock worth $173,075,000 after purchasing an additional 3,624,709 shares during the last quarter. Geode Capital Management LLC boosted its position in Hawaiian Electric Industries by 1.2% in the second quarter. Geode Capital Management LLC now owns 4,093,753 shares of the utilities provider’s stock valued at $43,522,000 after buying an additional 48,686 shares in the last quarter. Franklin Resources Inc. boosted its position in Hawaiian Electric Industries by 1.3% in the second quarter. Franklin Resources Inc. now owns 2,744,843 shares of the utilities provider’s stock valued at $29,178,000 after buying an additional 34,535 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Hawaiian Electric Industries by 10.5% in the third quarter. Dimensional Fund Advisors LP now owns 2,061,759 shares of the utilities provider’s stock valued at $22,762,000 after buying an additional 195,327 shares in the last quarter. Finally, Bank of America Corp DE boosted its holdings in Hawaiian Electric Industries by 5.2% in the third quarter. Bank of America Corp DE now owns 1,565,958 shares of the utilities provider’s stock valued at $17,288,000 after acquiring an additional 76,820 shares during the last quarter. Institutional investors own 59.91% of the company’s stock.

Hawaiian Electric Industries Price Performance

Shares of HE traded down $0.29 during midday trading on Wednesday, reaching $12.33. The stock had a trading volume of 3,490,652 shares, compared to its average volume of 2,445,307. The company has a debt-to-equity ratio of 1.79, a current ratio of 1.35 and a quick ratio of 1.35. The company has a market capitalization of $2.13 billion, a P/E ratio of 154.06 and a beta of 0.64. Hawaiian Electric Industries has a 52 week low of $8.14 and a 52 week high of $13.41. The firm’s 50 day moving average price is $11.69 and its 200-day moving average price is $11.42.

Hawaiian Electric Industries (NYSE:HE) last announced its quarterly earnings data on Friday, November 7th. The utilities provider reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.20) by $0.39. The firm had revenue of $790.61 million during the quarter. Hawaiian Electric Industries had a return on equity of 9.51% and a net margin of 0.56%. On average, analysts forecast that Hawaiian Electric Industries will post 1.71 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Jefferies Financial Group restated a “hold” rating on shares of Hawaiian Electric Industries in a research report on Friday, December 19th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Hawaiian Electric Industries in a research report on Monday. One equities research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $12.13.

About Hawaiian Electric Industries

Hawaiian Electric Industries, Inc is a diversified holding company operating in the energy and financial services sectors in the state of Hawaii. Its principal subsidiary, Hawaiian Electric Company, provides generation, transmission, distribution and customer service to the island of Oahu, while its Maui Electric and Hawaii Electric Light Company subsidiaries serve Maui, Molokai, Lanai and Hawaii Island. The roots of the electric utility business trace back to 1891 when service first commenced in Honolulu.

Through its subsidiary Hawaii Gas, HEI extends its energy portfolio to include the distribution of natural gas and propane, supporting residential, commercial and industrial customers across the islands.