Hawaiian Electric Industries (NYSE:HE) Stock Price Crosses Above 200-Day Moving Average – Should You Sell?
by Sarita Garza · The Markets DailyHawaiian Electric Industries, Inc. (NYSE:HE – Get Free Report) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $13.07 and traded as high as $14.75. Hawaiian Electric Industries shares last traded at $14.5680, with a volume of 2,259,276 shares.
Analyst Upgrades and Downgrades
HE has been the subject of several analyst reports. Jefferies Financial Group downgraded shares of Hawaiian Electric Industries from a “hold” rating to an “underperform” rating and reduced their price target for the company from $13.50 to $12.50 in a research report on Tuesday, January 20th. Zacks Research upgraded Hawaiian Electric Industries to a “hold” rating in a research note on Monday, February 9th. Barclays lifted their target price on Hawaiian Electric Industries from $13.00 to $14.00 and gave the stock an “equal weight” rating in a report on Monday, March 2nd. Weiss Ratings upgraded Hawaiian Electric Industries from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, March 2nd. Finally, Wall Street Zen raised Hawaiian Electric Industries from a “hold” rating to a “buy” rating in a report on Saturday, March 7th. Three analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average target price of $13.25.
Get Our Latest Stock Analysis on HE
Hawaiian Electric Industries Price Performance
The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 1.74. The firm’s fifty day moving average price is $15.44 and its two-hundred day moving average price is $13.10. The stock has a market capitalization of $2.59 billion, a PE ratio of 21.12 and a beta of 0.62.
Hawaiian Electric Industries (NYSE:HE – Get Free Report) last issued its earnings results on Friday, February 27th. The utilities provider reported $0.24 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.24. Hawaiian Electric Industries had a net margin of 4.09% and a return on equity of 9.82%. The company had revenue of $805.82 million for the quarter. On average, equities analysts predict that Hawaiian Electric Industries, Inc. will post 1.71 earnings per share for the current year.
Institutional Trading of Hawaiian Electric Industries
Large investors have recently modified their holdings of the company. Caitong International Asset Management Co. Ltd lifted its holdings in Hawaiian Electric Industries by 199,800.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,999 shares of the utilities provider’s stock valued at $25,000 after acquiring an additional 1,998 shares during the period. Navalign LLC purchased a new position in Hawaiian Electric Industries in the fourth quarter worth about $25,000. Northwestern Mutual Wealth Management Co. grew its stake in shares of Hawaiian Electric Industries by 142.2% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 2,325 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 1,365 shares during the period. Tucker Asset Management LLC purchased a new stake in shares of Hawaiian Electric Industries during the 4th quarter valued at about $32,000. Finally, Smartleaf Asset Management LLC lifted its stake in shares of Hawaiian Electric Industries by 334.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 2,576 shares of the utilities provider’s stock worth $32,000 after purchasing an additional 1,983 shares during the period. 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.