Hawaiian Electric Industries Target of Unusually High Options Trading (NYSE:HE)

Hawaiian Electric Industries, Inc. (NYSE:HE) was the target of some unusual options trading on Tuesday. Investors bought 8,337 put options on the company. This is an increase of approximately 91% compared to the average daily volume of 4,361 put options.

Analysts Set New Price Targets

Several research analysts recently commented on HE shares. Evercore ISI raised their price target on shares of Hawaiian Electric Industries from $7.00 to $11.00 and gave the company an “in-line” rating in a report on Thursday, February 15th. StockNews.com upgraded Hawaiian Electric Industries from a “sell” rating to a “hold” rating in a report on Monday. Two equities research analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $11.50.

Hawaiian Electric Industries Stock Performance

Shares of HE opened at $9.52 on Wednesday. Hawaiian Electric Industries has a 1 year low of $8.74 and a 1 year high of $40.16. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.13 and a current ratio of 0.13. The company has a market cap of $1.05 billion, a price-to-earnings ratio of 5.25 and a beta of 0.53. The firm has a fifty day moving average of $11.80 and a 200-day moving average of $12.72.

Hawaiian Electric Industries (NYSE:HE) last released its earnings results on Tuesday, February 13th. The utilities provider reported $0.48 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.48. Hawaiian Electric Industries had a return on equity of 9.99% and a net margin of 5.45%. The firm had revenue of $961.40 million for the quarter. During the same period in the previous year, the firm earned $0.52 earnings per share. Hawaiian Electric Industries’s revenue was down 5.7% on a year-over-year basis. As a group, equities analysts anticipate that Hawaiian Electric Industries will post 1.98 earnings per share for the current year.

Institutional Investors Weigh In On Hawaiian Electric Industries

Several institutional investors and hedge funds have recently modified their holdings of the business. Counterpoint Mutual Funds LLC bought a new position in Hawaiian Electric Industries in the 1st quarter worth approximately $707,000. Alaska Permanent Fund Corp grew its position in Hawaiian Electric Industries by 150.0% in the 1st quarter. Alaska Permanent Fund Corp now owns 137,406 shares of the utilities provider’s stock worth $1,549,000 after purchasing an additional 82,442 shares during the last quarter. Quadrature Capital Ltd raised its position in shares of Hawaiian Electric Industries by 16.5% during the fourth quarter. Quadrature Capital Ltd now owns 157,903 shares of the utilities provider’s stock valued at $2,241,000 after buying an additional 22,363 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of Hawaiian Electric Industries by 44.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 14,601 shares of the utilities provider’s stock valued at $207,000 after buying an additional 4,515 shares during the period. Finally, Wellington Management Group LLP acquired a new stake in Hawaiian Electric Industries during the fourth quarter worth about $2,370,000. Institutional investors and hedge funds 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.