Hawaiian Electric Industries (NYSE:HE) Trading Down 3% – Time to Sell?

Hawaiian Electric Industries, Inc. (NYSE:HE) traded down 3% during mid-day trading on Thursday . The company traded as low as $9.39 and last traded at $9.44. 599,457 shares traded hands during trading, a decline of 74% from the average session volume of 2,286,314 shares. The stock had previously closed at $9.73.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on HE. StockNews.com lowered shares of Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a research note on Friday. Evercore ISI cut 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 report on Tuesday, November 19th. Wells Fargo & Company reduced their target price 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. Finally, Jefferies Financial Group dropped their price target on Hawaiian Electric Industries from $11.50 to $10.50 and set a “hold” rating on the stock in a research note on Friday.

Hawaiian Electric Industries Trading Down 1.3 %

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 $10.19 and a 200-day moving average of $11.05. 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 (NYSE:HE) last posted its quarterly earnings results on Friday, November 8th. The utilities provider reported $0.46 EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $983.38 million for the quarter. During the same period in the prior year, the firm earned $0.37 EPS. The business’s revenue for the quarter was up 9.0% compared to the same quarter last year. Research analysts anticipate that Hawaiian Electric Industries, Inc. will post 1.71 EPS for the current year.

Hedge Funds Weigh In On Hawaiian Electric Industries

A number of hedge funds have recently bought and sold shares of the business. KBC Group NV raised its stake in 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 in the last quarter. UMB Bank n.a. acquired a new position in shares of Hawaiian Electric Industries in the 3rd quarter valued at approximately $42,000. Quarry LP raised its position in shares of Hawaiian Electric Industries by 156.6% in the 3rd quarter. Quarry LP now owns 4,503 shares of the utilities provider’s stock valued at $44,000 after buying an additional 2,748 shares in the last quarter. Millburn Ridgefield Corp bought a new stake in shares of Hawaiian Electric Industries during the 3rd quarter worth approximately $55,000. Finally, Quest Partners LLC boosted its position in shares of Hawaiian Electric Industries by 126.1% during the 3rd quarter. Quest Partners LLC now owns 7,983 shares of the utilities provider’s stock worth $77,000 after acquiring an additional 4,453 shares in the last quarter. 59.91% of the stock is owned by 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.