Hawaiian Electric Industries (NYSE:HE) Sets New 12-Month Low – Time to Sell?

Hawaiian Electric Industries, Inc. (NYSE:HE)’s share price reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $10.76 and last traded at $10.8780, with a volume of 166395 shares trading hands. The stock had previously closed at $11.09.

Analysts Set New Price Targets

Several brokerages have recently issued reports on HE. Zacks Research cut shares of Hawaiian Electric Industries from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 11th. Weiss Ratings raised Hawaiian Electric Industries from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, August 11th. LADENBURG THALM/SH SH began coverage on Hawaiian Electric Industries in a research report on Tuesday. They set a “sell” rating and a $7.00 target price on the stock. Barclays lowered their price target on Hawaiian Electric Industries from $13.00 to $12.00 and set an “equal weight” rating for the company in a research report on Tuesday, August 11th. Finally, Jefferies Financial Group cut their price objective on shares of Hawaiian Electric Industries from $13.75 to $11.75 and set an “underperform” rating on the stock in a research report on Monday, July 6th. Two equities research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Strong Sell” and an average price target of $10.25.

Hawaiian Electric Industries Stock Down 1.6%

The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.99 and a current ratio of 0.99. The company has a market cap of $1.89 billion, a P/E ratio of 8.39 and a beta of 0.48. The business’s fifty day moving average is $12.52 and its two-hundred day moving average is $13.81.

Hawaiian Electric Industries (NYSE:HE) last posted its quarterly earnings results on Friday, August 7th. The utilities provider reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.08). The company had revenue of $939.70 million for the quarter, compared to the consensus estimate of $939.70 million. Hawaiian Electric Industries had a net margin of 6.89% and a return on equity of 7.90%. During the same period in the prior year, the firm posted $0.15 EPS. Equities analysts predict that Hawaiian Electric Industries, Inc. will post 0.99 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC raised its holdings in shares of Hawaiian Electric Industries by 37.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,682 shares of the utilities provider’s stock valued at $33,000 after purchasing an additional 737 shares in the last quarter. SBI Securities Co. Ltd. raised its stake in Hawaiian Electric Industries by 9.4% in the fourth quarter. SBI Securities Co. Ltd. now owns 9,523 shares of the utilities provider’s stock worth $117,000 after buying an additional 816 shares in the last quarter. Federated Hermes Inc. lifted its holdings in Hawaiian Electric Industries by 1.3% during the second quarter. Federated Hermes Inc. now owns 72,891 shares of the utilities provider’s stock worth $775,000 after buying an additional 910 shares during the period. Xponance LLC boosted its position in Hawaiian Electric Industries by 5.7% during the 4th quarter. Xponance LLC now owns 17,022 shares of the utilities provider’s stock valued at $209,000 after acquiring an additional 918 shares in the last quarter. Finally, CWM LLC increased its holdings in shares of Hawaiian Electric Industries by 41.3% in the 4th quarter. CWM LLC now owns 3,210 shares of the utilities provider’s stock valued at $39,000 after acquiring an additional 939 shares during the period. 59.91% of the stock is currently owned by institutional investors.

Hawaiian Electric Industries Company Profile

Hawaiian Electric Industries, Inc is a diversified holding company operating in the energy and financial services sectors in the state of Hawaii. Its principal subsidiary, Hawaiian Electric Company, provides generation, transmission, distribution and customer service to the island of Oahu, while its Maui Electric and Hawaii Electric Light Company subsidiaries serve Maui, Molokai, Lanai and Hawaii Island. The roots of the electric utility business trace back to 1891 when service first commenced in Honolulu.

Through its subsidiary Hawaii Gas, HEI extends its energy portfolio to include the distribution of natural gas and propane, supporting residential, commercial and industrial customers across the islands.