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

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

A number of other brokerages have also recently commented on HE. Evercore ISI reduced their target price on shares of Hawaiian Electric Industries from $16.00 to $9.00 and set an “in-line” rating for the company in a research report on Tuesday, September 24th. Wells Fargo & Company dropped 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 note on Monday, September 30th.

Hawaiian Electric Industries Price Performance

NYSE:HE opened at $9.76 on Friday. The stock has a 50 day moving average of $12.26 and a two-hundred day moving average of $11.29. Hawaiian Electric Industries has a 12 month low of $7.61 and a 12 month high of $18.19. The firm has a market cap of $1.08 billion, a P/E ratio of 5.78 and a beta of 0.54. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 2.62.

Hawaiian Electric Industries (NYSE:HE) last issued its quarterly earnings results on Friday, August 9th. The utilities provider reported $0.44 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.05). Hawaiian Electric Industries had a positive return on equity of 10.69% and a negative net margin of 31.76%. The firm had revenue of $792.30 million for the quarter. Hawaiian Electric Industries’s revenue was down .2% compared to the same quarter last year.

Institutional Trading of Hawaiian Electric Industries

Several large investors have recently added to or reduced their stakes in the stock. New Covenant Trust Company N.A. purchased a new stake in shares of Hawaiian Electric Industries in the first quarter valued at about $32,000. Abich Financial Wealth Management LLC grew its stake in shares of Hawaiian Electric Industries by 54.4% in the 1st quarter. Abich Financial Wealth Management LLC now owns 3,226 shares of the utilities provider’s stock valued at $36,000 after buying an additional 1,137 shares during the period. Fidelis Capital Partners LLC acquired a new stake in shares of Hawaiian Electric Industries during the 1st quarter worth approximately $42,000. Signaturefd LLC raised its position in shares of Hawaiian Electric Industries by 30.8% during the 2nd quarter. Signaturefd LLC now owns 8,437 shares of the utilities provider’s stock valued at $76,000 after buying an additional 1,986 shares during the period. Finally, GAMMA Investing LLC raised its position in shares of Hawaiian Electric Industries by 82.3% during the 2nd quarter. GAMMA Investing LLC now owns 9,540 shares of the utilities provider’s stock valued at $86,000 after buying an additional 4,308 shares during the period. 59.91% of the stock is currently owned by hedge funds and other institutional investors.

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.