Hawaiian Electric Industries (NYSE:HE) Hits New 52-Week High – What’s Next?

Hawaiian Electric Industries, Inc. (NYSE:HE) shares reached a new 52-week high during trading on Tuesday . The company traded as high as $13.53 and last traded at $13.5690, with a volume of 1998215 shares changing hands. The stock had previously closed at $12.67.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Hawaiian Electric Industries in a research note on Monday, December 29th. Jefferies Financial Group restated a “hold” rating on shares of Hawaiian Electric Industries in a report on Friday, December 19th. One investment 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’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $12.13.

Hawaiian Electric Industries Stock Performance

The stock’s 50-day simple moving average is $11.85 and its 200 day simple moving average is $11.53. The company has a market capitalization of $2.36 billion, a PE ratio of 170.98 and a beta of 0.64. The company has a debt-to-equity ratio of 1.79, a quick ratio of 1.35 and a current ratio of 1.35.

Hawaiian Electric Industries (NYSE:HE) last released its quarterly earnings data on Friday, November 7th. The utilities provider reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.20) by $0.39. The business had revenue of $790.61 million during the quarter. Hawaiian Electric Industries had a net margin of 0.56% and a return on equity of 9.51%. As a group, research analysts expect that Hawaiian Electric Industries, Inc. will post 1.71 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Hawaiian Electric Industries

Hedge funds have recently made changes to their positions in the company. Horizon Kinetics Asset Management LLC boosted its position in shares of Hawaiian Electric Industries by 28.6% in the 2nd quarter. Horizon Kinetics Asset Management LLC now owns 16,281,709 shares of the utilities provider’s stock valued at $173,075,000 after purchasing an additional 3,624,709 shares during the period. Geode Capital Management LLC lifted its stake in Hawaiian Electric Industries by 1.2% in the second quarter. Geode Capital Management LLC now owns 4,093,753 shares of the utilities provider’s stock valued at $43,522,000 after buying an additional 48,686 shares during the last quarter. Franklin Resources Inc. boosted its holdings in shares of Hawaiian Electric Industries by 1.3% in the second quarter. Franklin Resources Inc. now owns 2,744,843 shares of the utilities provider’s stock valued at $29,178,000 after acquiring an additional 34,535 shares during the period. Dimensional Fund Advisors LP boosted its stake in Hawaiian Electric Industries by 10.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,061,759 shares of the utilities provider’s stock worth $22,762,000 after purchasing an additional 195,327 shares during the period. Finally, Bank of America Corp DE grew its holdings in shares of Hawaiian Electric Industries by 5.2% during the third quarter. Bank of America Corp DE now owns 1,565,958 shares of the utilities provider’s stock worth $17,288,000 after buying an additional 76,820 shares during 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 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.