Hawaiian Electric Industries (NYSE:HE) Stock Rating Lowered by StockNews.com

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

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

Hawaiian Electric Industries Trading Down 1.3 %

Shares of HE stock opened at $9.33 on Friday. 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 has a fifty-two week low of $7.61 and a fifty-two week high of $18.19. The firm’s 50 day moving average price is $10.19 and its two-hundred day moving average price is $11.06. The stock 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 earnings results on Friday, November 8th. The utilities provider reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.07). Hawaiian Electric Industries had a negative net margin of 35.38% and a positive return on equity of 11.12%. The business had revenue of $983.38 million for the quarter. During the same quarter last year, the firm earned $0.37 EPS. The company’s quarterly revenue was up 9.0% on a year-over-year basis. On average, analysts anticipate that Hawaiian Electric Industries will post 1.71 EPS for the current year.

Institutional Trading of Hawaiian Electric Industries

Several large investors have recently added to or reduced their stakes in the business. FORA Capital LLC bought a new position in shares of Hawaiian Electric Industries in the third quarter valued at $692,000. Virtu Financial LLC acquired a new position in shares of Hawaiian Electric Industries in the 3rd quarter worth $821,000. Franklin Resources Inc. raised its position in shares of Hawaiian Electric Industries by 656.7% during the third quarter. Franklin Resources Inc. now owns 2,722,668 shares of the utilities provider’s stock worth $27,499,000 after purchasing an additional 2,362,863 shares during the period. Seven Grand Managers LLC purchased a new stake in shares of Hawaiian Electric Industries during the third quarter valued at $4,888,000. Finally, Bank of New York Mellon Corp boosted its position in shares of Hawaiian Electric Industries by 23.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 638,156 shares of the utilities provider’s stock valued at $5,756,000 after purchasing an additional 120,208 shares during the period. 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.