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

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

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

Hawaiian Electric Industries Stock Up 2.9 %

Shares of Hawaiian Electric Industries stock opened at $9.07 on Wednesday. The company has a market capitalization of $1.56 billion, a P/E ratio of -0.77 and a beta of 0.53. 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 business has a 50-day moving average of $9.71 and a two-hundred day moving average of $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 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.07). The business had revenue of $983.38 million during the quarter. Hawaiian Electric Industries had a negative net margin of 35.38% and a positive return on equity of 11.12%. The business’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.37 EPS. As a group, equities analysts predict that Hawaiian Electric Industries will post 1.71 EPS for the current year.

Hedge Funds Weigh In On Hawaiian Electric Industries

Large investors have recently bought and sold shares of the company. KBC Group NV raised its holdings in shares of Hawaiian Electric Industries by 34.8% in the third quarter. KBC Group NV now owns 3,956 shares of the utilities provider’s stock valued at $38,000 after purchasing an additional 1,021 shares during the last quarter. Diversified Trust Co grew its position in Hawaiian Electric Industries by 2.9% in the fourth quarter. Diversified Trust Co now owns 41,455 shares of the utilities provider’s stock valued at $403,000 after purchasing an additional 1,184 shares in the last quarter. Oppenheimer & Co. Inc. grew its position in Hawaiian Electric Industries by 5.7% in the third quarter. Oppenheimer & Co. Inc. now owns 32,775 shares of the utilities provider’s stock valued at $317,000 after purchasing an additional 1,775 shares in the last quarter. Blue Trust Inc. increased its stake in Hawaiian Electric Industries by 203.0% in the 4th quarter. Blue Trust Inc. now owns 3,078 shares of the utilities provider’s stock valued at $30,000 after buying an additional 2,062 shares during the last quarter. Finally, Choreo LLC lifted its position in Hawaiian Electric Industries by 15.5% during the 4th quarter. Choreo LLC now owns 16,190 shares of the utilities provider’s stock worth $158,000 after buying an additional 2,173 shares in 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.