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 published on Tuesday.

Several other analysts have also recently issued reports on the company. Evercore ISI reduced their price objective on Hawaiian Electric Industries from $11.00 to $10.00 and set an “in-line” rating on the stock in a research note on Tuesday, November 19th. Barclays began coverage on Hawaiian Electric Industries in a research note on Thursday, February 6th. They issued an “equal weight” rating and a $10.00 price objective on the stock. Finally, Jefferies Financial Group reduced their price objective on Hawaiian Electric Industries from $11.50 to $10.50 and set a “hold” rating on the stock in a research note on Friday, January 3rd. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $10.50.

Hawaiian Electric Industries Stock Down 4.5 %

NYSE:HE opened at $10.37 on Tuesday. The company has a quick ratio of 0.18, a current ratio of 0.18 and a debt-to-equity ratio of 1.80. The stock’s fifty day moving average is $9.54 and its two-hundred day moving average is $10.69. Hawaiian Electric Industries has a 52 week low of $7.61 and a 52 week high of $18.19. The stock has a market capitalization of $1.79 billion, a price-to-earnings ratio of -0.88 and a beta of 0.53.

Hedge Funds Weigh In On Hawaiian Electric Industries

Large investors have recently bought and sold shares of the business. Blue Trust Inc. grew its holdings in shares of Hawaiian Electric Industries by 203.0% during the fourth quarter. Blue Trust Inc. now owns 3,078 shares of the utilities provider’s stock worth $30,000 after purchasing an additional 2,062 shares during the last quarter. R Squared Ltd purchased a new position in shares of Hawaiian Electric Industries during the fourth quarter worth about $36,000. KBC Group NV grew its holdings in shares of Hawaiian Electric Industries by 34.8% during the third quarter. KBC Group NV now owns 3,956 shares of the utilities provider’s stock worth $38,000 after buying an additional 1,021 shares during the last quarter. UMB Bank n.a. purchased a new position in shares of Hawaiian Electric Industries during the third quarter worth about $42,000. Finally, Quarry LP grew its holdings in shares of Hawaiian Electric Industries by 156.6% during the third quarter. Quarry LP now owns 4,503 shares of the utilities provider’s stock worth $44,000 after buying an additional 2,748 shares during the last quarter. Hedge funds and other institutional investors own 59.91% of the company’s stock.

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.