Hawaiian Electric Industries (NYSE:HE) Downgraded to Sell at 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 Monday.

Several other analysts also recently weighed in on the stock. Evercore ISI reaffirmed an in-line rating and issued a $16.00 target price on shares of Hawaiian Electric Industries in a report on Wednesday, August 14th. Wells Fargo & Company raised shares of Hawaiian Electric Industries from an underweight rating to an equal weight rating and set a $14.00 target price on the stock in a report on Friday, August 23rd.

Hawaiian Electric Industries Trading Up 5.2 %

NYSE HE opened at $12.23 on Monday. The company has a debt-to-equity ratio of 2.62, a quick ratio of 0.11 and a current ratio of 0.11. The firm has a market cap of $1.35 billion, a PE ratio of 7.24 and a beta of 0.55. Hawaiian Electric Industries has a one year low of $7.61 and a one year high of $18.19. The firm’s fifty day moving average is $13.12 and its two-hundred day moving average is $11.39.

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 the consensus estimate of $0.49 by ($0.05). The firm had revenue of $792.30 million during the quarter. Hawaiian Electric Industries had a negative net margin of 31.76% and a positive return on equity of 10.69%. The company’s quarterly revenue was down .2% on a year-over-year basis.

Institutional Trading of Hawaiian Electric Industries

A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in Hawaiian Electric Industries by 1.5% during the first quarter. Vanguard Group Inc. now owns 11,059,244 shares of the utilities provider’s stock worth $124,638,000 after buying an additional 160,815 shares in the last quarter. AQR Capital Management LLC raised its position in Hawaiian Electric Industries by 52.8% during the second quarter. AQR Capital Management LLC now owns 6,693,424 shares of the utilities provider’s stock worth $60,308,000 after acquiring an additional 2,312,950 shares during the last quarter. Millennium Management LLC raised its position in Hawaiian Electric Industries by 79.0% during the second quarter. Millennium Management LLC now owns 1,870,088 shares of the utilities provider’s stock worth $16,868,000 after acquiring an additional 825,073 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Hawaiian Electric Industries by 21.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,621,304 shares of the utilities provider’s stock worth $23,006,000 after acquiring an additional 285,955 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in Hawaiian Electric Industries by 23.2% during the second quarter. Bank of New York Mellon Corp now owns 638,156 shares of the utilities provider’s stock worth $5,756,000 after acquiring an additional 120,208 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.