Hawaiian Electric Industries (NYSE:HE) Stock Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Shares of Hawaiian Electric Industries, Inc. (NYSE:HE) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $13.26 and traded as high as $15.44. Hawaiian Electric Industries shares last traded at $15.4050, with a volume of 1,159,989 shares traded.

Wall Street Analyst Weigh In

HE has been the subject of a number of research reports. Wall Street Zen raised Hawaiian Electric Industries from a “hold” rating to a “buy” rating in a research note on Saturday, March 7th. Barclays lifted their price objective on Hawaiian Electric Industries from $13.00 to $14.00 and gave the company an “equal weight” rating in a research note on Monday, March 2nd. Weiss Ratings raised Hawaiian Electric Industries from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, March 2nd. Zacks Research raised Hawaiian Electric Industries to a “hold” rating in a research note on Monday, February 9th. Finally, Jefferies Financial Group cut Hawaiian Electric Industries from a “hold” rating to an “underperform” rating and dropped their price objective for the company from $13.50 to $12.50 in a research note on Tuesday, January 20th. Three research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and an average price target of $13.25.

Hawaiian Electric Industries Price Performance

The company has a debt-to-equity ratio of 1.74, a current ratio of 1.32 and a quick ratio of 1.32. The stock has a 50 day moving average price of $15.50 and a two-hundred day moving average price of $13.30. The firm has a market capitalization of $2.68 billion, a price-to-earnings ratio of 21.86 and a beta of 0.55.

Hawaiian Electric Industries (NYSE:HE) last released its earnings results on Friday, February 27th. The utilities provider reported $0.24 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.24. The firm had revenue of $805.82 million during the quarter. Hawaiian Electric Industries had a return on equity of 9.82% and a net margin of 4.09%. As a group, analysts expect that Hawaiian Electric Industries, Inc. will post 1.71 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Y Intercept Hong Kong Ltd boosted its holdings in Hawaiian Electric Industries by 72.9% in the third quarter. Y Intercept Hong Kong Ltd now owns 204,200 shares of the utilities provider’s stock valued at $2,254,000 after purchasing an additional 86,117 shares during the period. Wealth Enhancement Advisory Services LLC purchased a new position in Hawaiian Electric Industries in the third quarter valued at $344,000. Inspire Advisors LLC purchased a new position in Hawaiian Electric Industries in the third quarter valued at $1,000,000. Assenagon Asset Management S.A. boosted its holdings in Hawaiian Electric Industries by 180.6% in the third quarter. Assenagon Asset Management S.A. now owns 878,253 shares of the utilities provider’s stock valued at $9,696,000 after purchasing an additional 565,218 shares during the period. Finally, Caprock Group LLC purchased a new position in Hawaiian Electric Industries in the third quarter valued at $1,332,000. 59.91% of the stock is currently owned by hedge funds and other institutional investors.

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.