Hawaiian Electric Industries (NYSE:HE) Downgraded to “Sell” Rating by StockNews.com

Hawaiian Electric Industries (NYSE:HE) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday.

Other research analysts have also issued research reports about the stock. Jefferies Financial Group reduced their price objective on shares of Hawaiian Electric Industries from $11.50 to $10.50 and set a “hold” rating on the stock in a research note on Friday, January 3rd. Evercore ISI reduced their price target on shares of Hawaiian Electric Industries from $11.00 to $10.00 and set an “in-line” rating on the stock in a research report on Tuesday, November 19th.

Hawaiian Electric Industries Price Performance

Shares of HE traded down $0.18 during trading hours on Wednesday, hitting $8.80. The stock had a trading volume of 2,429,994 shares, compared to its average volume of 2,953,405. Hawaiian Electric Industries has a 52 week low of $7.61 and a 52 week high of $18.19. The company’s fifty day moving average is $9.71 and its two-hundred day moving average is $11.04. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.18 and a quick ratio of 0.18. The stock has a market capitalization of $1.52 billion, a price-to-earnings ratio of -0.74 and a beta of 0.53.

Hawaiian Electric Industries (NYSE:HE) last issued its quarterly earnings results on Friday, November 8th. The utilities provider reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.07). Hawaiian Electric Industries had a positive return on equity of 11.12% and a negative net margin of 35.38%. The company had revenue of $983.38 million for the quarter. During the same quarter last year, the business posted $0.37 EPS. The firm’s quarterly revenue was up 9.0% compared to the same quarter last year. On average, analysts anticipate that Hawaiian Electric Industries will post 1.71 EPS for the current year.

Institutional Investors Weigh In On Hawaiian Electric Industries

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Blue Trust Inc. raised its stake in shares of Hawaiian Electric Industries by 203.0% during the fourth quarter. Blue Trust Inc. now owns 3,078 shares of the utilities provider’s stock valued at $30,000 after acquiring an additional 2,062 shares during the last quarter. R Squared Ltd bought a new stake in shares of Hawaiian Electric Industries in the 4th quarter valued at about $36,000. KBC Group NV increased its stake in shares of Hawaiian Electric Industries by 34.8% in the third quarter. KBC Group NV now owns 3,956 shares of the utilities provider’s stock valued at $38,000 after buying an additional 1,021 shares during the period. UMB Bank n.a. bought a new position in shares of Hawaiian Electric Industries during the third quarter worth about $42,000. Finally, Quarry LP lifted its stake in shares of Hawaiian Electric Industries by 156.6% in the third quarter. Quarry LP now owns 4,503 shares of the utilities provider’s stock worth $44,000 after acquiring an additional 2,748 shares during the period. 59.91% of the stock is owned by institutional investors.

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.