Hawaiian Electric Industries (NYSE:HE) Sees Unusually-High Trading Volume – Should You Buy?

Hawaiian Electric Industries, Inc. (NYSE:HE) shares saw an uptick in trading volume on Wednesday . 2,683,405 shares were traded during trading, an increase of 10% from the previous session’s volume of 2,442,042 shares.The stock last traded at $12.4210 and had previously closed at $12.61.

Analyst Upgrades and Downgrades

HE has been the subject of several research reports. Jefferies Financial Group reiterated a “hold” rating on shares of Hawaiian Electric Industries in a research note on Friday, December 19th. Weiss Ratings reissued a “sell (d)” rating on shares of Hawaiian Electric Industries in a research note on Monday. One investment analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Hawaiian Electric Industries has a consensus rating of “Hold” and a consensus target price of $12.13.

Hawaiian Electric Industries Trading Down 1.6%

The company has a market capitalization of $2.14 billion, a PE ratio of 155.06 and a beta of 0.64. The company has a fifty day simple moving average of $11.69 and a 200-day simple moving average of $11.42. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.79.

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Northwestern Mutual Wealth Management Co. lifted its position in Hawaiian Electric Industries by 142.2% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 2,325 shares of the utilities provider’s stock valued at $26,000 after buying an additional 1,365 shares during the last quarter. Larson Financial Group LLC lifted its holdings in shares of Hawaiian Electric Industries by 242.2% in the 3rd quarter. Larson Financial Group LLC now owns 2,741 shares of the utilities provider’s stock worth $30,000 after acquiring an additional 1,940 shares during the last quarter. SJS Investment Consulting Inc. purchased a new position in shares of Hawaiian Electric Industries during the 3rd quarter worth approximately $46,000. Farther Finance Advisors LLC increased its holdings in Hawaiian Electric Industries by 37.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 4,125 shares of the utilities provider’s stock valued at $46,000 after purchasing an additional 1,125 shares during the last quarter. Finally, Ameritas Advisory Services LLC purchased a new stake in Hawaiian Electric Industries in the second quarter valued at approximately $47,000. 59.91% of the stock is currently owned by institutional investors and hedge funds.

Hawaiian Electric Industries Company Profile

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.