Hawaiian Electric Industries (NYSE:HE) Announces Earnings Results

Hawaiian Electric Industries (NYSE:HE) issued its earnings results on Friday. The utilities provider reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.20) by $0.39, Zacks reports. The business 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 Price Performance

Shares of HE traded down $0.03 during mid-day trading on Friday, reaching $11.57. The stock had a trading volume of 2,086,701 shares, compared to its average volume of 2,163,961. The business has a fifty day moving average of $11.65 and a 200 day moving average of $11.12. The company has a debt-to-equity ratio of 1.52, a quick ratio of 1.07 and a current ratio of 1.07. The firm has a market cap of $2.00 billion, a price-to-earnings ratio of -11.45 and a beta of 0.67. Hawaiian Electric Industries has a 12 month low of $8.14 and a 12 month high of $13.41.

Analyst Ratings Changes

HE has been the subject of several analyst reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Hawaiian Electric Industries in a research report on Wednesday, October 8th. Jefferies Financial Group upgraded Hawaiian Electric Industries to a “hold” rating in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Hawaiian Electric Industries presently has a consensus rating of “Hold” and a consensus price target of $11.94.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Comerica Bank increased 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 worth $67,000 after buying an additional 1,886 shares in the last quarter. Evergreen Capital Management LLC boosted its stake 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 worth $184,000 after acquiring an additional 1,281 shares during the period. Sei Investments Co. purchased a new stake in shares of Hawaiian Electric Industries during the second quarter worth about $190,000. Tower Research Capital LLC TRC raised its stake in Hawaiian Electric Industries by 297.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 22,810 shares of the utilities provider’s stock valued at $242,000 after purchasing an additional 17,068 shares during the period. Finally, State of Wyoming purchased a new position in Hawaiian Electric Industries in the 2nd quarter worth approximately $279,000. Institutional investors 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.