Hawaiian Electric Industries (NYSE:HE) Stock Rating Lowered by StockNews.com

Hawaiian Electric Industries (NYSE:HE) was downgraded by investment analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Wednesday.

A number of other analysts have also weighed in on the stock. Evercore ISI decreased their target price on shares of Hawaiian Electric Industries from $16.00 to $9.00 and set an “in-line” rating on the stock in a report on Tuesday. Wells Fargo & Company raised shares of Hawaiian Electric Industries from an “underweight” rating to an “equal weight” rating and set a $14.00 price target on the stock in a report on Friday, August 23rd.

Hawaiian Electric Industries Price Performance

HE opened at $9.85 on Wednesday. The firm has a 50-day moving average price of $13.09 and a 200-day moving average price of $11.35. Hawaiian Electric Industries has a twelve month low of $7.61 and a twelve month 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 company has a market capitalization of $1.09 billion, a price-to-earnings ratio of 5.83 and a beta of 0.55.

Hawaiian Electric Industries (NYSE:HE) last released its quarterly earnings data 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). The business 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 firm’s revenue for the quarter was down .2% compared to the same quarter last year.

Hedge Funds Weigh In On Hawaiian Electric Industries

A number of hedge funds and other institutional investors have recently bought and sold shares of HE. AQR Capital Management LLC lifted its stake 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 purchasing an additional 2,312,950 shares during the last quarter. Millennium Management LLC lifted its position in Hawaiian Electric Industries by 79.0% in the 2nd quarter. Millennium Management LLC now owns 1,870,088 shares of the utilities provider’s stock worth $16,868,000 after buying an additional 825,073 shares during the last quarter. Verition Fund Management LLC purchased a new stake in Hawaiian Electric Industries in the fourth quarter worth approximately $8,944,000. Wellington Management Group LLP bought a new position in Hawaiian Electric Industries during the fourth quarter valued at approximately $2,370,000. Finally, Panagora Asset Management Inc. raised its stake in shares of Hawaiian Electric Industries by 716.5% during the second quarter. Panagora Asset Management Inc. now owns 187,690 shares of the utilities provider’s stock worth $1,693,000 after acquiring an additional 164,702 shares in 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.