Hawaiian Electric Industries (NYSE:HE) Downgraded by StockNews.com

StockNews.com cut shares of Hawaiian Electric Industries (NYSE:HE) from a hold rating to a sell rating in a research note published on Friday.

Several other equities analysts have also commented on HE. Wells Fargo & Company dropped their target price on Hawaiian Electric Industries from $14.00 to $11.50 and set an equal weight rating on the stock in a report on Monday, September 30th. Evercore ISI dropped their price objective on Hawaiian Electric Industries from $16.00 to $9.00 and set an in-line rating on the stock in a report on Tuesday, September 24th.

Hawaiian Electric Industries Price Performance

HE stock opened at $9.72 on Friday. Hawaiian Electric Industries has a 52-week low of $7.61 and a 52-week 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 stock has a market cap of $1.07 billion, a price-to-earnings ratio of 5.75 and a beta of 0.54. The business has a fifty day moving average of $12.13 and a two-hundred day moving average of $11.27.

Hawaiian Electric Industries (NYSE:HE) last released its earnings results on Friday, August 9th. The utilities provider reported $0.44 earnings per share 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% compared to the same quarter last year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. New Covenant Trust Company N.A. acquired a new position in Hawaiian Electric Industries during the first quarter worth $32,000. Abich Financial Wealth Management LLC grew its position in shares of 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 during the period. Fidelis Capital Partners LLC acquired a new position in shares of Hawaiian Electric Industries during the 1st quarter valued at about $42,000. Signaturefd LLC boosted its position in shares of Hawaiian Electric Industries by 30.8% in the second quarter. Signaturefd LLC now owns 8,437 shares of the utilities provider’s stock worth $76,000 after acquiring an additional 1,986 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in shares of Hawaiian Electric Industries by 82.3% during the 2nd quarter. GAMMA Investing LLC now owns 9,540 shares of the utilities provider’s stock valued at $86,000 after buying an additional 4,308 shares during the period. 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.