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

StockNews.com downgraded shares of Hawaiian Electric Industries (NYSE:HE) from a hold rating to a sell rating in a research report report published on Wednesday.

Other research analysts have also recently issued research reports about the company. Evercore ISI lowered their price objective on Hawaiian Electric Industries from $11.00 to $10.00 and set an “in-line” rating for the company in a research note on Tuesday, November 19th. Jefferies Financial Group lowered their target price 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.

Hawaiian Electric Industries Trading Down 2.0 %

Shares of Hawaiian Electric Industries stock opened at $8.80 on Wednesday. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.18 and a current ratio of 0.18. The company’s fifty day simple moving average is $9.71 and its 200-day simple moving average is $11.04. Hawaiian Electric Industries has a 1 year low of $7.61 and a 1 year high of $18.19.

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

Institutional Investors Weigh In On Hawaiian Electric Industries

A number of hedge funds have recently added to or reduced their stakes in the company. Virtu Financial LLC purchased a new position in Hawaiian Electric Industries during the third quarter worth about $821,000. FORA Capital LLC purchased a new stake in shares of Hawaiian Electric Industries during the 3rd quarter valued at about $692,000. Franklin Resources Inc. boosted its stake in shares of Hawaiian Electric Industries by 656.7% in the third quarter. Franklin Resources Inc. now owns 2,722,668 shares of the utilities provider’s stock valued at $27,499,000 after purchasing an additional 2,362,863 shares during the period. Seven Grand Managers LLC purchased a new stake in shares of Hawaiian Electric Industries during the third quarter worth about $4,888,000. Finally, FMR LLC increased its stake in shares of Hawaiian Electric Industries by 7,986.3% in the third quarter. FMR LLC now owns 5,340,679 shares of the utilities provider’s stock worth $51,698,000 after buying an additional 5,274,633 shares during the last quarter. Institutional investors and hedge funds 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.