Stock Traders Buy Large Volume of Hawaiian Electric Industries Put Options (NYSE:HE)

Hawaiian Electric Industries, Inc. (NYSE:HE) saw unusually large options trading on Tuesday. Investors bought 8,337 put options on the company. This represents an increase of approximately 91% compared to the average daily volume of 4,361 put options.

Hawaiian Electric Industries Trading Down 10.7 %

HE stock traded down $1.14 during midday trading on Tuesday, hitting $9.52. 12,198,588 shares of the company’s stock were exchanged, compared to its average volume of 2,356,835. The stock’s fifty day moving average price is $11.80 and its 200-day moving average price is $12.72. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.13 and a current ratio of 0.13. The company has a market cap of $1.05 billion, a PE ratio of 5.25 and a beta of 0.53. Hawaiian Electric Industries has a one year low of $8.74 and a one year high of $40.16.

Hawaiian Electric Industries (NYSE:HE) last issued its quarterly earnings results on Tuesday, February 13th. The utilities provider reported $0.48 EPS for the quarter, meeting analysts’ consensus estimates of $0.48. The company had revenue of $961.40 million for the quarter. Hawaiian Electric Industries had a return on equity of 9.99% and a net margin of 5.45%. The business’s revenue for the quarter was down 5.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.52 earnings per share. Research analysts predict that Hawaiian Electric Industries will post 1.98 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. StockNews.com upgraded Hawaiian Electric Industries from a “sell” rating to a “hold” rating in a research report on Monday. Evercore ISI lifted their target price on Hawaiian Electric Industries from $7.00 to $11.00 and gave the company an “in-line” rating in a research note on Thursday, February 15th. 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.com, the company presently has a consensus rating of “Hold” and an average target price of $11.50.

Hedge Funds Weigh In On Hawaiian Electric Industries

Several institutional investors and hedge funds have recently made changes to their positions in HE. Raymond James & Associates lifted its stake in Hawaiian Electric Industries by 7.5% during the first quarter. Raymond James & Associates now owns 15,301 shares of the utilities provider’s stock worth $647,000 after purchasing an additional 1,065 shares during the last quarter. American Century Companies Inc. lifted its stake in Hawaiian Electric Industries by 17.8% during the first quarter. American Century Companies Inc. now owns 15,808 shares of the utilities provider’s stock worth $669,000 after purchasing an additional 2,388 shares during the last quarter. Natixis Advisors L.P. bought a new stake in Hawaiian Electric Industries during the first quarter worth $465,000. Bank of Montreal Can lifted its stake in Hawaiian Electric Industries by 3.0% during the first quarter. Bank of Montreal Can now owns 13,673 shares of the utilities provider’s stock worth $584,000 after purchasing an additional 403 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Hawaiian Electric Industries during the first quarter worth $757,000. Institutional investors and hedge funds 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.