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

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

Other equities research analysts also recently issued research reports about the company. Jefferies Financial Group initiated coverage on Hawaiian Electric Industries in a report on Tuesday, December 3rd. They issued a “hold” rating and a $11.50 price objective for the company. Evercore ISI dropped their price target on shares of Hawaiian Electric Industries from $11.00 to $10.00 and set an “in-line” rating on the stock in a research report on Tuesday, November 19th. Finally, Wells Fargo & Company decreased their price objective on shares of Hawaiian Electric Industries from $14.00 to $11.50 and set an “equal weight” rating for the company in a research report on Monday, September 30th.

Hawaiian Electric Industries Trading Down 1.3 %

Shares of NYSE:HE opened at $9.33 on Friday. The firm has a market cap of $1.61 billion, a price-to-earnings ratio of -0.79 and a beta of 0.53. Hawaiian Electric Industries has a 12 month low of $7.61 and a 12 month high of $18.19. The company’s fifty day simple moving average is $10.19 and its 200 day simple moving average is $11.05. The company has a quick ratio of 0.18, a current ratio of 0.18 and a debt-to-equity ratio of 1.80.

Hawaiian Electric Industries (NYSE:HE) last posted its quarterly earnings data on Friday, November 8th. The utilities provider reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.07). The firm 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 business’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.37 EPS. As a group, research analysts forecast that Hawaiian Electric Industries will post 1.71 EPS for the current fiscal year.

Hedge Funds Weigh In On Hawaiian Electric Industries

Hedge funds and other institutional investors have recently made changes to their positions in the company. KBC Group NV raised its holdings in shares of Hawaiian Electric Industries by 34.8% during the 3rd quarter. KBC Group NV now owns 3,956 shares of the utilities provider’s stock worth $38,000 after buying an additional 1,021 shares in the last quarter. UMB Bank n.a. acquired a new position in Hawaiian Electric Industries during the third quarter worth about $42,000. Quarry LP raised its stake in Hawaiian Electric Industries by 156.6% during the third quarter. Quarry LP now owns 4,503 shares of the utilities provider’s stock worth $44,000 after acquiring an additional 2,748 shares in the last quarter. Millburn Ridgefield Corp bought a new position in shares of Hawaiian Electric Industries in the third quarter worth about $55,000. Finally, Quest Partners LLC boosted its stake in shares of Hawaiian Electric Industries by 126.1% in the 3rd quarter. Quest Partners LLC now owns 7,983 shares of the utilities provider’s stock valued at $77,000 after purchasing an additional 4,453 shares in the last quarter. 59.91% of the stock is currently owned by institutional investors and hedge funds.

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.