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

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

A number of other equities research analysts also recently issued reports on HE. Jefferies Financial Group reduced their price target on shares of Hawaiian Electric Industries from $11.50 to $10.50 and set a “hold” rating for the company in a research report on Friday, January 3rd. Barclays began coverage on Hawaiian Electric Industries in a report on Thursday, February 6th. They set an “equal weight” rating and a $10.00 price objective for the company. Finally, Evercore ISI lowered their target price on Hawaiian Electric Industries from $11.00 to $10.00 and set an “in-line” rating on the stock in a report on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $10.50.

Hawaiian Electric Industries Price Performance

Shares of NYSE HE opened at $10.11 on Tuesday. The stock has a fifty day moving average price of $9.53 and a 200 day moving average price of $10.78. Hawaiian Electric Industries has a 1-year low of $7.61 and a 1-year high of $18.19. 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 company has a market cap of $1.74 billion, a PE ratio of -0.85 and a beta of 0.53.

Hawaiian Electric Industries (NYSE:HE) last posted 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 firm had revenue of $983.38 million for the quarter. During the same period in the prior year, the company earned $0.37 earnings per share. The firm’s quarterly revenue was up 9.0% compared to the same quarter last year. Sell-side analysts forecast that Hawaiian Electric Industries will post 1.71 EPS for the current year.

Institutional Trading of Hawaiian Electric Industries

Several institutional investors and hedge funds have recently made changes to their positions in HE. Zimmer Partners LP acquired a new position in Hawaiian Electric Industries in the 3rd quarter valued at about $145,200,000. FMR LLC raised its position 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 valued at $51,698,000 after buying an additional 5,274,633 shares during the last quarter. Geode Capital Management LLC boosted its position in Hawaiian Electric Industries by 49.3% during the third quarter. Geode Capital Management LLC now owns 3,793,142 shares of the utilities provider’s stock worth $36,725,000 after acquiring an additional 1,253,143 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Hawaiian Electric Industries by 14.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,471,522 shares of the utilities provider’s stock worth $33,778,000 after acquiring an additional 449,873 shares during the period. Finally, State Street Corp grew its stake in Hawaiian Electric Industries by 19.8% in the 3rd quarter. State Street Corp now owns 3,368,096 shares of the utilities provider’s stock worth $32,603,000 after acquiring an additional 556,747 shares during the period. 59.91% of the stock is currently owned by hedge funds and other 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.