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

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

Other equities research analysts have also issued research reports about the company. Evercore ISI reduced their price target on Hawaiian Electric Industries from $16.00 to $9.00 and set an “in-line” rating on the stock in a research report on Tuesday, September 24th. Wells Fargo & Company cut their price objective on Hawaiian Electric Industries from $14.00 to $11.50 and set an “equal weight” rating on the stock in a research note on Monday.

Hawaiian Electric Industries Trading Up 5.7 %

NYSE HE opened at $9.78 on Friday. The company has a market cap of $1.08 billion, a price-to-earnings ratio of 5.79 and a beta of 0.54. Hawaiian Electric Industries has a twelve month low of $7.61 and a twelve month high of $18.19. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 2.62. The business’s fifty day moving average is $12.40 and its 200 day moving average is $11.29.

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

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Treasurer of the State of North Carolina lifted its position in shares of Hawaiian Electric Industries by 0.6% during the 4th quarter. Treasurer of the State of North Carolina now owns 159,290 shares of the utilities provider’s stock valued at $2,260,000 after acquiring an additional 984 shares during the period. Abich Financial Wealth Management LLC increased its stake in Hawaiian Electric Industries by 54.4% in the first quarter. Abich Financial Wealth Management LLC now owns 3,226 shares of the utilities provider’s stock valued at $36,000 after purchasing an additional 1,137 shares in the last quarter. IMS Capital Management raised its holdings in shares of Hawaiian Electric Industries by 2.5% during the second quarter. IMS Capital Management now owns 51,957 shares of the utilities provider’s stock valued at $469,000 after purchasing an additional 1,257 shares during the period. CANADA LIFE ASSURANCE Co boosted its position in shares of Hawaiian Electric Industries by 17.0% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 12,172 shares of the utilities provider’s stock worth $137,000 after purchasing an additional 1,766 shares in the last quarter. Finally, Signaturefd LLC grew its stake in shares of Hawaiian Electric Industries by 30.8% in 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. 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.