Hawaiian Electric Industries (NYSE:HE) Reaches New 12-Month Low at $8.65

Shares of Hawaiian Electric Industries, Inc. (NYSE:HE) hit a new 52-week low during trading on Monday . The company traded as low as $8.65 and last traded at $8.68, with a volume of 1251245 shares. The stock had previously closed at $9.02.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Wells Fargo & Company raised their price target on Hawaiian Electric Industries from $8.50 to $9.00 and gave the stock an “underweight” rating in a research note on Monday, May 13th. StockNews.com raised Hawaiian Electric Industries from a “sell” rating to a “hold” rating in a research note on Friday, June 21st. Two investment analysts have rated the stock with a sell rating and two have issued a hold rating to the company. According to data from MarketBeat, Hawaiian Electric Industries has a consensus rating of “Hold” and an average target price of $11.63.

Hawaiian Electric Industries Trading Down 8.8 %

The stock has a 50-day moving average price of $10.28 and a two-hundred day moving average price of $11.77. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.11 and a current ratio of 0.11. The stock has a market capitalization of $907.77 million, a PE ratio of 5.01 and a beta of 0.58.

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

Institutional Investors Weigh In On Hawaiian Electric Industries

Several hedge funds and other institutional investors have recently made changes to their positions in HE. Vanguard Group Inc. increased its position in Hawaiian Electric Industries by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 11,059,244 shares of the utilities provider’s stock valued at $124,638,000 after purchasing an additional 160,815 shares during the period. AQR Capital Management LLC boosted its holdings in shares of Hawaiian Electric Industries by 1,470.8% in the 3rd quarter. AQR Capital Management LLC now owns 6,120,053 shares of the utilities provider’s stock valued at $75,338,000 after buying an additional 5,730,428 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Hawaiian Electric Industries by 21.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,621,304 shares of the utilities provider’s stock valued at $23,006,000 after buying an additional 285,955 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Hawaiian Electric Industries by 10.1% in the 1st quarter. Assenagon Asset Management S.A. now owns 1,475,102 shares of the utilities provider’s stock valued at $16,624,000 after buying an additional 135,102 shares in the last quarter. Finally, Qube Research & Technologies Ltd boosted its holdings in shares of Hawaiian Electric Industries by 7,788.3% in the 3rd quarter. Qube Research & Technologies Ltd now owns 1,190,815 shares of the utilities provider’s stock valued at $14,659,000 after buying an additional 1,175,719 shares in the last quarter. Hedge funds and other institutional investors own 59.91% of the company’s stock.

About Hawaiian Electric Industries

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.