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

Hawaiian Electric Industries (NYSE:HE) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a research note issued on Friday.

Several other equities analysts also recently weighed in on HE. Evercore ISI dropped their price target on Hawaiian Electric Industries from $11.00 to $10.00 and set an “in-line” rating for the company in a research report on Tuesday, November 19th. Wells Fargo & Company reduced their target price on shares of Hawaiian Electric Industries from $14.00 to $11.50 and set an “equal weight” rating on the stock in a report on Monday, September 30th. Finally, Jefferies Financial Group assumed coverage on shares of Hawaiian Electric Industries in a research report on Tuesday, December 3rd. They issued a “hold” rating and a $11.50 price objective for the company.

Hawaiian Electric Industries Stock Down 1.3 %

Hawaiian Electric Industries stock opened at $9.33 on Friday. The firm has a market capitalization of $1.61 billion, a price-to-earnings ratio of -0.79 and a beta of 0.53. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.18 and a current ratio of 0.18. Hawaiian Electric Industries has a fifty-two week low of $7.61 and a fifty-two week high of $18.19. The stock’s fifty day moving average is $10.19 and its two-hundred day moving average is $11.05.

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

Institutional Investors Weigh In On Hawaiian Electric Industries

Several hedge funds have recently modified their holdings of the stock. KBC Group NV raised its position in shares of Hawaiian Electric Industries by 34.8% in the 3rd quarter. KBC Group NV now owns 3,956 shares of the utilities provider’s stock worth $38,000 after buying an additional 1,021 shares during the period. UMB Bank n.a. acquired a new stake in Hawaiian Electric Industries during the third quarter worth about $42,000. Quarry LP raised its holdings in shares of Hawaiian Electric Industries by 156.6% in the 3rd quarter. Quarry LP now owns 4,503 shares of the utilities provider’s stock worth $44,000 after purchasing an additional 2,748 shares during the period. Millburn Ridgefield Corp purchased a new stake in shares of Hawaiian Electric Industries during the 3rd quarter worth about $55,000. Finally, Quest Partners LLC increased its position in Hawaiian Electric Industries by 126.1% during the 3rd quarter. Quest Partners LLC now owns 7,983 shares of the utilities provider’s stock worth $77,000 after purchasing an additional 4,453 shares in the last quarter. 59.91% of the stock is owned by institutional investors and hedge funds.

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.