Hawaiian Electric Industries (NYSE:HE) Announces Quarterly Earnings Results

Hawaiian Electric Industries (NYSE:HE) issued its earnings results on Friday. The utilities provider reported $0.19 EPS for the quarter, beating the consensus estimate of ($0.20) by $0.39, Zacks reports. The firm had revenue of $790.61 million during the quarter. Hawaiian Electric Industries had a negative net margin of 3.66% and a positive return on equity of 10.76%.

Hawaiian Electric Industries Stock Performance

HE opened at $11.57 on Friday. The business’s 50-day moving average price is $11.65 and its two-hundred day moving average price is $11.12. Hawaiian Electric Industries has a 1 year low of $8.14 and a 1 year high of $13.41. The company has a market capitalization of $2.00 billion, a price-to-earnings ratio of -11.45 and a beta of 0.67. The company has a debt-to-equity ratio of 1.52, a current ratio of 1.07 and a quick ratio of 1.07.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Jefferies Financial Group upgraded shares of Hawaiian Electric Industries to a “hold” rating in a research report on Wednesday, October 8th. Weiss Ratings reissued a “sell (e+)” rating on shares of Hawaiian Electric Industries in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Hawaiian Electric Industries presently has an average rating of “Hold” and a consensus target price of $11.94.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Comerica Bank lifted its stake in Hawaiian Electric Industries by 45.0% in the 1st quarter. Comerica Bank now owns 6,075 shares of the utilities provider’s stock valued at $67,000 after acquiring an additional 1,886 shares in the last quarter. Evergreen Capital Management LLC raised its holdings in shares of Hawaiian Electric Industries by 8.0% in the second quarter. Evergreen Capital Management LLC now owns 17,355 shares of the utilities provider’s stock valued at $184,000 after purchasing an additional 1,281 shares during the last quarter. Sei Investments Co. bought a new stake in shares of Hawaiian Electric Industries in the second quarter worth $190,000. Tower Research Capital LLC TRC lifted its position in shares of Hawaiian Electric Industries by 297.2% in the second quarter. Tower Research Capital LLC TRC now owns 22,810 shares of the utilities provider’s stock worth $242,000 after purchasing an additional 17,068 shares in the last quarter. Finally, State of Wyoming acquired a new position in Hawaiian Electric Industries during the second quarter worth $279,000. 59.91% of the stock is currently owned by institutional investors.

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.