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

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

Separately, Wells Fargo & Company raised their target price on shares of Hawaiian Electric Industries from $8.50 to $9.00 and gave the stock an “underweight” rating in a report on Monday, May 13th. Three research analysts have rated the stock with a sell rating and one has assigned a hold rating to the company’s stock. According to MarketBeat.com, Hawaiian Electric Industries currently has an average rating of “Reduce” and an average target price of $11.63.

Hawaiian Electric Industries Stock Performance

NYSE HE traded up $1.57 during trading hours on Tuesday, reaching $12.15. The company’s stock had a trading volume of 7,257,282 shares, compared to its average volume of 2,756,332. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 1.19. The business has a 50-day simple moving average of $10.06 and a 200 day simple moving average of $11.37. Hawaiian Electric Industries has a 52 week low of $7.61 and a 52 week high of $40.16. The stock has a market cap of $1.34 billion, a PE ratio of 7.19 and a beta of 0.58.

Hawaiian Electric Industries (NYSE:HE) last issued its earnings results on Friday, May 10th. The utilities provider reported $0.45 earnings per share (EPS) for the quarter. Hawaiian Electric Industries had a net margin of 5.16% and a return on equity of 9.58%. The firm had revenue of $897.16 million for the quarter.

Institutional Investors Weigh In On Hawaiian Electric Industries

Several large investors have recently made changes to their positions in HE. Wedmont Private Capital acquired a new position in shares of Hawaiian Electric Industries during the fourth quarter valued at approximately $183,000. SG Americas Securities LLC increased its stake in shares of Hawaiian Electric Industries by 303.1% during the fourth quarter. SG Americas Securities LLC now owns 36,834 shares of the utilities provider’s stock valued at $523,000 after acquiring an additional 27,697 shares during the period. Raymond James Financial Services Advisors Inc. increased its stake in shares of Hawaiian Electric Industries by 44.2% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 42,824 shares of the utilities provider’s stock valued at $608,000 after acquiring an additional 13,128 shares during the period. Assenagon Asset Management S.A. acquired a new position in shares of Hawaiian Electric Industries during the fourth quarter valued at approximately $19,015,000. Finally, International Assets Investment Management LLC grew its position in Hawaiian Electric Industries by 1,439.8% in the fourth quarter. International Assets Investment Management LLC now owns 180,867 shares of the utilities provider’s stock worth $2,567,000 after buying an additional 169,121 shares during 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.