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

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

A number of other equities analysts also recently issued reports on the company. Jefferies Financial Group cut their price target on Hawaiian Electric Industries from $11.50 to $10.50 and set a “hold” rating for the company in a research note on Friday, January 3rd. Evercore ISI cut their target price on Hawaiian Electric Industries from $11.00 to $10.00 and set an “in-line” rating on the stock in a research report on Tuesday, November 19th.

Hawaiian Electric Industries Stock Down 2.0 %

Shares of NYSE HE traded down $0.18 during midday trading on Wednesday, hitting $8.80. 2,429,994 shares of the stock traded hands, compared to its average volume of 2,953,405. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.18 and a current ratio of 0.18. Hawaiian Electric Industries has a one year low of $7.61 and a one year high of $18.19. The business has a 50 day moving average price of $9.71 and a two-hundred day moving average price of $11.04. The company has a market cap of $1.52 billion, a PE ratio of -0.74 and a beta of 0.53.

Hawaiian Electric Industries (NYSE:HE) last announced its quarterly earnings results on Friday, November 8th. The utilities provider reported $0.46 EPS for the quarter, missing analysts’ consensus estimates 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 period in the previous year, the business earned $0.37 EPS. The company’s quarterly revenue was up 9.0% compared to the same quarter last year. On average, equities analysts predict that Hawaiian Electric Industries will post 1.71 EPS for the current year.

Institutional Investors Weigh In On Hawaiian Electric Industries

Large investors have recently made changes to their positions in the business. Marshall Wace LLP raised its holdings in shares of Hawaiian Electric Industries by 96.8% in the 2nd quarter. Marshall Wace LLP now owns 313,255 shares of the utilities provider’s stock worth $2,826,000 after purchasing an additional 154,116 shares during the period. Millennium Management LLC raised its stake in shares of Hawaiian Electric Industries by 79.0% during the 2nd quarter. Millennium Management LLC now owns 1,870,088 shares of the utilities provider’s stock valued at $16,868,000 after purchasing an additional 825,073 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in Hawaiian Electric Industries by 225.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 59,640 shares of the utilities provider’s stock worth $538,000 after purchasing an additional 41,305 shares in the last quarter. Algert Global LLC boosted its stake in Hawaiian Electric Industries by 116.8% in the 2nd quarter. Algert Global LLC now owns 167,484 shares of the utilities provider’s stock worth $1,511,000 after purchasing an additional 90,234 shares during the period. Finally, Creative Planning grew its holdings in Hawaiian Electric Industries by 203.2% during the 2nd quarter. Creative Planning now owns 70,683 shares of the utilities provider’s stock valued at $638,000 after buying an additional 47,372 shares in the last quarter. 59.91% of the stock is owned by hedge funds and other institutional investors.

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.