StockNews.com Downgrades Hawaiian Electric Industries (NYSE:HE) to Sell

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

A number of other equities analysts have also issued reports on the stock. Wells Fargo & Company reduced their price target on shares of Hawaiian Electric Industries from $14.00 to $11.50 and set an “equal weight” rating for the company in a research report on Monday, September 30th. Evercore ISI cut their price objective on shares of Hawaiian Electric Industries from $16.00 to $9.00 and set an “in-line” rating on the stock in a research note on Tuesday, September 24th.

Hawaiian Electric Industries Trading Down 0.1 %

NYSE:HE opened at $9.76 on Friday. The company has a market capitalization of $1.08 billion, a P/E ratio of 5.78 and a beta of 0.54. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 2.62. Hawaiian Electric Industries has a 12 month low of $7.61 and a 12 month high of $18.19. The firm has a fifty day simple moving average of $12.26 and a 200-day simple moving average of $11.29.

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Treasurer of the State of North Carolina increased its holdings 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 purchasing an additional 984 shares in the last quarter. Bank of Nova Scotia purchased a new position in Hawaiian Electric Industries in the fourth quarter valued at $1,202,000. Campbell & CO Investment Adviser LLC acquired a new position in shares of Hawaiian Electric Industries in the fourth quarter worth about $643,000. Quadrature Capital Ltd boosted its stake in shares of Hawaiian Electric Industries by 16.5% during the 4th quarter. Quadrature Capital Ltd now owns 157,903 shares of the utilities provider’s stock worth $2,241,000 after acquiring an additional 22,363 shares in the last quarter. Finally, Verition Fund Management LLC acquired a new stake in shares of Hawaiian Electric Industries during the 4th quarter valued at about $8,944,000. 59.91% of the stock is currently owned by hedge funds and other 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.