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

StockNews.com lowered shares of Hawaiian Electric Industries (NYSE:HE) from a hold rating to a sell rating in a research note published on Friday morning.

Several other equities analysts have also commented on the company. Wells Fargo & Company raised their price objective on Hawaiian Electric Industries from $9.00 to $14.00 and gave the company an underweight rating in a research report on Monday, August 12th. Evercore ISI reissued an in-line rating and set a $16.00 price target on shares of Hawaiian Electric Industries in a research report on Wednesday, August 14th.

Hawaiian Electric Industries Trading Down 1.0 %

Shares of HE opened at $13.37 on Friday. Hawaiian Electric Industries has a 1-year low of $7.61 and a 1-year high of $18.19. The firm has a market capitalization of $1.47 billion, a price-to-earnings ratio of 7.91 and a beta of 0.57. The firm’s 50-day moving average price is $12.20 and its 200-day moving average price is $11.63. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 1.19.

Hawaiian Electric Industries (NYSE:HE) last posted its quarterly earnings data on Friday, August 9th. The utilities provider reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.05). Hawaiian Electric Industries had a net margin of 5.16% and a return on equity of 9.58%. The firm had revenue of $792.30 million for the quarter. The company’s revenue was down .2% compared to the same quarter last year.

Hedge Funds Weigh In On Hawaiian Electric Industries

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its position in Hawaiian Electric Industries by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 11,059,244 shares of the utilities provider’s stock valued at $124,638,000 after purchasing an additional 160,815 shares during the last quarter. AQR Capital Management LLC lifted its stake in shares of Hawaiian Electric Industries by 52.8% in the second quarter. AQR Capital Management LLC now owns 6,693,424 shares of the utilities provider’s stock worth $60,308,000 after buying an additional 2,312,950 shares in the last quarter. Millennium Management LLC grew its holdings in shares of Hawaiian Electric Industries by 79.0% during the second quarter. Millennium Management LLC now owns 1,870,088 shares of the utilities provider’s stock valued at $16,868,000 after buying an additional 825,073 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Hawaiian Electric Industries by 21.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,621,304 shares of the utilities provider’s stock valued at $23,006,000 after acquiring an additional 285,955 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its position in shares of Hawaiian Electric Industries by 10.1% during the first quarter. Assenagon Asset Management S.A. now owns 1,475,102 shares of the utilities provider’s stock valued at $16,624,000 after acquiring an additional 135,102 shares in the last quarter. Hedge funds and other institutional investors 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.