Hawaiian Electric Industries (NYSE:HE) Cut to Sell at StockNews.com

Hawaiian Electric Industries (NYSE:HE) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a report released on Monday.

HE has been the topic of several other research reports. Wells Fargo & Company raised Hawaiian Electric Industries from an “underweight” rating to an “equal weight” rating and set a $14.00 price target on the stock in a research note on Friday, August 23rd. Evercore ISI reaffirmed an “in-line” rating and issued a $16.00 target price on shares of Hawaiian Electric Industries in a research note on Wednesday, August 14th.

Hawaiian Electric Industries Price Performance

Shares of NYSE HE traded up $0.61 during trading on Monday, reaching $12.23. The company had a trading volume of 5,060,510 shares, compared to its average volume of 3,092,126. Hawaiian Electric Industries has a 52 week low of $7.61 and a 52 week high of $18.19. The business’s 50 day moving average price is $13.12 and its 200-day moving average price is $11.39. The stock has a market cap of $1.35 billion, a PE ratio of 7.24 and a beta of 0.55. The company has a debt-to-equity ratio of 2.62, a quick ratio of 0.11 and a current ratio of 0.11.

Hawaiian Electric Industries (NYSE:HE) last posted its quarterly earnings data on Friday, August 9th. The utilities provider reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.05). The company had revenue of $792.30 million during the quarter. Hawaiian Electric Industries had a positive return on equity of 10.69% and a negative net margin of 31.76%. Hawaiian Electric Industries’s revenue was down .2% on a year-over-year basis.

Institutional Investors Weigh In On Hawaiian Electric Industries

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Mitsubishi UFJ Trust & Banking Corp increased its stake in Hawaiian Electric Industries by 31.2% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 13,265 shares of the utilities provider’s stock valued at $147,000 after purchasing an additional 3,156 shares in the last quarter. Fidelis Capital Partners LLC acquired a new stake in shares of Hawaiian Electric Industries during the first quarter worth about $42,000. State Board of Administration of Florida Retirement System grew its position in shares of Hawaiian Electric Industries by 18.4% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 156,734 shares of the utilities provider’s stock valued at $1,766,000 after purchasing an additional 24,328 shares during the period. Vanguard Group Inc. increased its stake in Hawaiian Electric Industries by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 11,059,244 shares of the utilities provider’s stock worth $124,638,000 after purchasing an additional 160,815 shares in the last quarter. Finally, Acadian Asset Management LLC raised its holdings in Hawaiian Electric Industries by 470.4% during the 1st quarter. Acadian Asset Management LLC now owns 10,780 shares of the utilities provider’s stock worth $121,000 after buying an additional 8,890 shares during the period. Institutional investors own 59.91% of the company’s stock.

Hawaiian Electric Industries Company Profile

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.