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

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

HE has been the subject of several other reports. Evercore ISI decreased their price objective on shares of Hawaiian Electric Industries from $16.00 to $9.00 and set an in-line rating for the company in a research report on Tuesday, September 24th. Wells Fargo & Company lowered 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 report on Monday, September 30th.

Hawaiian Electric Industries Price Performance

NYSE:HE opened at $9.76 on Friday. The business has a 50 day simple moving average of $12.26 and a 200-day simple moving average of $11.29. Hawaiian Electric Industries has a 1 year low of $7.61 and a 1 year high of $18.19. The firm has a market capitalization of $1.08 billion, a price-to-earnings ratio of 5.78 and a beta of 0.54. The company has a debt-to-equity ratio of 2.62, a current ratio of 0.11 and a quick ratio of 0.11.

Hawaiian Electric Industries (NYSE:HE) last issued its earnings results on Friday, August 9th. The utilities provider reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates 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 for the quarter. Hawaiian Electric Industries’s revenue for the quarter was down .2% compared to the same quarter last year.

Hedge Funds Weigh In On Hawaiian Electric Industries

Several large investors have recently modified their holdings of the business. Treasurer of the State of North Carolina increased its position in shares of Hawaiian Electric Industries by 0.6% during the fourth quarter. Treasurer of the State of North Carolina now owns 159,290 shares of the utilities provider’s stock worth $2,260,000 after acquiring an additional 984 shares during the period. Bank of Nova Scotia purchased a new position in Hawaiian Electric Industries during the 4th quarter worth approximately $1,202,000. Campbell & CO Investment Adviser LLC acquired a new position in Hawaiian Electric Industries in the fourth quarter valued at $643,000. Quadrature Capital Ltd raised its stake in Hawaiian Electric Industries by 16.5% during the 4th quarter. Quadrature Capital Ltd now owns 157,903 shares of the utilities provider’s stock valued at $2,241,000 after acquiring an additional 22,363 shares during the last quarter. Finally, Verition Fund Management LLC purchased a new stake in shares of Hawaiian Electric Industries during the fourth quarter worth approximately $8,944,000. Institutional investors and hedge funds own 59.91% of the company’s stock.

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.