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

StockNews.com downgraded shares of Hawaiian Electric Industries (NYSE:HE) from a hold rating to a sell rating in a report released on Friday.

HE has been the subject of a number of other research reports. Wells Fargo & Company dropped their price target on 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 dropped their target price on shares of Hawaiian Electric Industries from $11.00 to $10.00 and set an “in-line” rating for the company in a report on Tuesday, November 19th. Finally, Jefferies Financial Group began coverage on shares of Hawaiian Electric Industries in a report on Tuesday, December 3rd. They issued a “hold” rating and a $11.50 price target on the stock.

Hawaiian Electric Industries Stock Performance

Shares of HE opened at $9.33 on Friday. The company has a market capitalization of $1.61 billion, a PE ratio of -0.79 and a beta of 0.53. Hawaiian Electric Industries has a 52-week low of $7.61 and a 52-week high of $18.19. The company has a 50-day simple moving average of $10.19 and a 200-day simple moving average of $11.06. The company has a quick ratio of 0.18, a current ratio of 0.18 and a debt-to-equity ratio of 1.80.

Hawaiian Electric Industries (NYSE:HE) last posted its quarterly earnings results on Friday, November 8th. The utilities provider reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.07). The company had revenue of $983.38 million for the quarter. Hawaiian Electric Industries had a negative net margin of 35.38% and a positive return on equity of 11.12%. The company’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same period last year, the firm posted $0.37 EPS. Equities research analysts predict that Hawaiian Electric Industries will post 1.71 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Zimmer Partners LP acquired a new position in shares of Hawaiian Electric Industries in the third quarter valued at approximately $145,200,000. AQR Capital Management LLC raised its holdings in Hawaiian Electric Industries by 52.8% in the 2nd quarter. AQR Capital Management LLC now owns 6,693,424 shares of the utilities provider’s stock valued at $60,308,000 after acquiring an additional 2,312,950 shares during the last quarter. FMR LLC lifted its stake in shares of Hawaiian Electric Industries by 7,986.3% during the 3rd quarter. FMR LLC now owns 5,340,679 shares of the utilities provider’s stock worth $51,698,000 after purchasing an additional 5,274,633 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Hawaiian Electric Industries by 49.3% during the third quarter. Geode Capital Management LLC now owns 3,793,142 shares of the utilities provider’s stock worth $36,725,000 after purchasing an additional 1,253,143 shares during the last quarter. Finally, State Street Corp grew its position in shares of Hawaiian Electric Industries by 19.8% in the third quarter. State Street Corp now owns 3,368,096 shares of the utilities provider’s stock valued at $32,603,000 after purchasing an additional 556,747 shares during the period. 59.91% of the stock is currently 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.