Hawaiian Electric Industries (NYSE:HE) Downgraded to “Sell” at 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 note issued to investors on Wednesday.

A number of other equities research analysts have also weighed in on HE. Wells Fargo & Company raised shares of Hawaiian Electric Industries from an “underweight” rating to an “equal weight” rating and set a $14.00 target price on the stock in a research note on Friday, August 23rd. Evercore ISI cut their price objective on Hawaiian Electric Industries from $16.00 to $9.00 and set an “in-line” rating on the stock in a research report on Tuesday.

Hawaiian Electric Industries Stock Down 1.3 %

NYSE HE opened at $9.85 on Wednesday. Hawaiian Electric Industries has a 1 year low of $7.61 and a 1 year high of $18.19. The stock has a market capitalization of $1.09 billion, a PE ratio of 5.83 and a beta of 0.55. The company has a debt-to-equity ratio of 2.62, a current ratio of 0.11 and a quick ratio of 0.11. The business’s 50-day moving average is $13.09 and its 200 day moving average is $11.35.

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of HE. New Covenant Trust Company N.A. bought a new stake in shares of Hawaiian Electric Industries in the 1st quarter worth approximately $32,000. Abich Financial Wealth Management LLC lifted its position in Hawaiian Electric Industries by 54.4% during the first quarter. Abich Financial Wealth Management LLC now owns 3,226 shares of the utilities provider’s stock valued at $36,000 after purchasing an additional 1,137 shares in the last quarter. Fidelis Capital Partners LLC purchased a new position in shares of Hawaiian Electric Industries during the 1st quarter valued at about $42,000. Cape Investment Advisory Inc. bought a new position in shares of Hawaiian Electric Industries in the fourth quarter worth approximately $43,000. Finally, Signaturefd LLC lifted its stake in shares of Hawaiian Electric Industries by 30.8% during the 2nd quarter. Signaturefd LLC now owns 8,437 shares of the utilities provider’s stock valued at $76,000 after buying an additional 1,986 shares in the last quarter. 59.91% of the stock is currently owned by institutional investors.

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.