Hawaiian Electric Industries (NYSE:HE) Sets New 52-Week High – Time to Buy?

Hawaiian Electric Industries, Inc. (NYSE:HE)’s stock price hit a new 52-week high on Thursday . The stock traded as high as $16.70 and last traded at $16.6650, with a volume of 919683 shares changing hands. The stock had previously closed at $16.47.

Analyst Ratings Changes

Several analysts have recently commented on HE shares. Jefferies Financial Group downgraded shares of Hawaiian Electric Industries from a “hold” rating to an “underperform” rating and decreased their price objective for the company from $13.50 to $12.50 in a research report on Tuesday, January 20th. Barclays raised their price target on Hawaiian Electric Industries from $11.00 to $13.00 and gave the company a “positive” rating in a report on Monday, January 26th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Hawaiian Electric Industries in a research report on Monday, December 29th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $13.00.

Hawaiian Electric Industries Price Performance

The firm’s 50-day moving average is $13.14 and its two-hundred day moving average is $12.10. The company has a debt-to-equity ratio of 1.79, a current ratio of 1.35 and a quick ratio of 1.35. The company has a market cap of $2.90 billion, a P/E ratio of 209.71 and a beta of 0.63.

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

Hedge Funds Weigh In On Hawaiian Electric Industries

Large investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its position in shares of Hawaiian Electric Industries by 9.2% in the 4th quarter. Vanguard Group Inc. now owns 19,410,325 shares of the utilities provider’s stock valued at $238,747,000 after purchasing an additional 1,628,307 shares during the last quarter. Horizon Kinetics Asset Management LLC raised its position in Hawaiian Electric Industries by 28.6% during the 2nd quarter. Horizon Kinetics Asset Management LLC now owns 16,281,709 shares of the utilities provider’s stock worth $173,075,000 after buying an additional 3,624,709 shares during the last quarter. Geode Capital Management LLC lifted its position in Hawaiian Electric Industries by 1.2% during 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 purchasing an additional 48,686 shares during the period. Franklin Resources Inc. lifted its holdings in shares of Hawaiian Electric Industries by 1.3% in the 2nd quarter. Franklin Resources Inc. now owns 2,744,843 shares of the utilities provider’s stock valued at $29,178,000 after buying an additional 34,535 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in Hawaiian Electric Industries by 10.5% in the third quarter. Dimensional Fund Advisors LP now owns 2,061,759 shares of the utilities provider’s stock valued at $22,762,000 after acquiring an additional 195,327 shares during the period. Institutional investors own 59.91% of the company’s stock.

Hawaiian Electric Industries Company Profile

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.