Hawaiian Electric Industries (NYSE:HE) Sees Strong Trading Volume

Shares of Hawaiian Electric Industries, Inc. (NYSE:HEGet Rating) saw unusually-strong trading volume on Tuesday . Approximately 29,386 shares were traded during mid-day trading, a decline of 91% from the previous session’s volume of 322,700 shares.The stock last traded at $41.86 and had previously closed at $42.32.

A number of analysts have recently commented on HE shares. Guggenheim upgraded Hawaiian Electric Industries from a “sell” rating to a “neutral” rating and set a $41.00 price target on the stock in a report on Thursday, January 20th. StockNews.com upgraded Hawaiian Electric Industries from a “hold” rating to a “buy” rating in a report on Thursday, May 5th. Finally, Zacks Investment Research lowered Hawaiian Electric Industries from a “hold” rating to a “sell” rating and set a $45.00 target price on the stock. in a report on Tuesday, March 8th.

The firm has a 50-day moving average price of $42.35 and a 200 day moving average price of $41.48. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.08 and a quick ratio of 0.08. The company has a market cap of $4.59 billion, a price-to-earnings ratio of 18.48, a P/E/G ratio of 6.04 and a beta of 0.28.

Hawaiian Electric Industries (NYSE:HEGet Rating) last posted its earnings results on Monday, May 9th. The utilities provider reported $0.63 EPS for the quarter, beating the consensus estimate of $0.42 by $0.21. Hawaiian Electric Industries had a return on equity of 10.71% and a net margin of 8.45%. During the same period in the prior year, the business earned $0.59 EPS. On average, equities analysts anticipate that Hawaiian Electric Industries, Inc. will post 2.19 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 10th. Investors of record on Friday, May 20th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 3.34%. The ex-dividend date is Thursday, May 19th. Hawaiian Electric Industries’s dividend payout ratio is currently 61.14%.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC bought a new position in shares of Hawaiian Electric Industries in the 4th quarter valued at $98,569,000. Norges Bank bought a new position in shares of Hawaiian Electric Industries in the 4th quarter valued at $24,946,000. State Street Corp lifted its stake in shares of Hawaiian Electric Industries by 17.6% in the 1st quarter. State Street Corp now owns 3,718,688 shares of the utilities provider’s stock valued at $157,338,000 after acquiring an additional 557,341 shares during the last quarter. Nordea Investment Management AB raised its position in Hawaiian Electric Industries by 11.0% during the 1st quarter. Nordea Investment Management AB now owns 4,166,696 shares of the utilities provider’s stock worth $179,418,000 after purchasing an additional 412,957 shares during the last quarter. Finally, FMR LLC raised its position in Hawaiian Electric Industries by 96.6% during the 1st quarter. FMR LLC now owns 567,340 shares of the utilities provider’s stock worth $23,131,000 after purchasing an additional 278,694 shares during the last quarter. Hedge funds and other institutional investors own 52.08% of the company’s stock.

About Hawaiian Electric Industries (NYSE:HE)

Hawaiian Electric Industries, Inc, together with its subsidiaries, engages in the electric utility, banking, and renewable/sustainable infrastructure investment businesses in the state of Hawaii. 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.

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