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

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

A number of other research analysts have also weighed in on the stock. Evercore ISI dropped their price objective on shares of Hawaiian Electric Industries from $11.00 to $10.00 and set an “in-line” rating on the stock in a research note on Tuesday, November 19th. Jefferies Financial Group began 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 target on the stock. Finally, Wells Fargo & Company cut their price target on Hawaiian Electric Industries from $14.00 to $11.50 and set an “equal weight” rating for the company in a research note on Monday, September 30th.

Hawaiian Electric Industries Price Performance

Hawaiian Electric Industries stock opened at $9.45 on Friday. The stock’s 50 day moving average price is $10.19 and its two-hundred day moving average price is $11.05. The stock has a market capitalization of $1.63 billion, a price-to-earnings ratio of -0.80 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 52-week low of $7.61 and a 52-week high of $18.19.

Hawaiian Electric Industries (NYSE:HE) last issued its 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 in the previous year, the company posted $0.37 earnings per share. The firm’s quarterly revenue was up 9.0% compared to the same quarter last year. On average, equities analysts predict that Hawaiian Electric Industries will post 1.71 earnings per share for the current year.

Institutional Trading of Hawaiian Electric Industries

A number of large investors have recently bought and sold shares of HE. Franklin Resources Inc. lifted its holdings in Hawaiian Electric Industries by 656.7% during 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 last quarter. Peapack Gladstone Financial Corp purchased a new stake in shares of Hawaiian Electric Industries during the 3rd quarter valued at approximately $184,000. Sanctuary Advisors LLC bought a new position in Hawaiian Electric Industries in the 3rd quarter worth approximately $112,000. Virtu Financial LLC purchased a new position in Hawaiian Electric Industries in the 3rd quarter valued at approximately $821,000. Finally, Geode Capital Management LLC grew its stake in Hawaiian Electric Industries by 49.3% in the 3rd quarter. Geode Capital Management LLC now owns 3,793,142 shares of the utilities provider’s stock valued at $36,725,000 after buying an additional 1,253,143 shares in the last quarter. 59.91% of the stock is 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.