Hawaiian Electric Industries, Inc. (NYSE:HE) Given Consensus Rating of “Strong Sell” by Analysts

Shares of Hawaiian Electric Industries, Inc. (NYSE:HE) have been given a consensus rating of “Strong Sell” by the five ratings firms that are currently covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a sell recommendation and two have given a hold recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $10.25.

Several research firms have issued reports on HE. Zacks Research cut shares of Hawaiian Electric Industries from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 11th. Barclays reduced their target price on shares of Hawaiian Electric Industries from $13.00 to $12.00 and set an “equal weight” rating on the stock in a research report on Tuesday, August 11th. Weiss Ratings raised shares of Hawaiian Electric Industries from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, August 11th. Jefferies Financial Group lowered their price target on Hawaiian Electric Industries from $13.75 to $11.75 and set an “underperform” rating for the company in a report on Monday, July 6th. Finally, LADENBURG THALM/SH SH assumed coverage on Hawaiian Electric Industries in a research note on Tuesday. They issued a “sell” rating and a $7.00 price objective on the stock.

Hawaiian Electric Industries Trading Down 1.7%

Shares of NYSE:HE traded down $0.18 on Tuesday, hitting $10.90. 181,680 shares of the company’s stock were exchanged, compared to its average volume of 2,258,317. Hawaiian Electric Industries has a 12 month low of $10.76 and a 12 month high of $17.38. The stock has a market capitalization of $1.88 billion, a price-to-earnings ratio of 8.36 and a beta of 0.48. The business’s 50 day simple moving average is $12.52 and its two-hundred day simple moving average is $13.81. The company has a debt-to-equity ratio of 1.57, a current ratio of 0.99 and a quick ratio of 0.99.

Hawaiian Electric Industries (NYSE:HE) last posted its quarterly earnings results on Friday, August 7th. The utilities provider reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.08). The company had revenue of $939.70 million during the quarter, compared to the consensus estimate of $939.70 million. Hawaiian Electric Industries had a return on equity of 7.90% and a net margin of 6.89%.During the same quarter in the previous year, the company posted $0.15 earnings per share. Analysts anticipate that Hawaiian Electric Industries will post 0.99 EPS for the current fiscal year.

Institutional Trading of Hawaiian Electric Industries

Several institutional investors and hedge funds have recently made changes to their positions in the company. Navalign LLC purchased a new stake in Hawaiian Electric Industries in the fourth quarter worth about $25,000. Caitong International Asset Management Co. Ltd increased its position in Hawaiian Electric Industries by 199,800.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,999 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 1,998 shares during the period. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Hawaiian Electric Industries by 142.2% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 2,325 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 1,365 shares in the last quarter. Larson Financial Group LLC raised its holdings in shares of Hawaiian Electric Industries by 242.2% in the 3rd quarter. Larson Financial Group LLC now owns 2,741 shares of the utilities provider’s stock valued at $30,000 after purchasing an additional 1,940 shares in the last quarter. Finally, Tucker Asset Management LLC purchased a new stake in shares of Hawaiian Electric Industries in the 4th quarter worth approximately $32,000. 59.91% of the stock is currently owned by institutional investors.

Hawaiian Electric Industries Company Profile

Hawaiian Electric Industries, Inc is a diversified holding company operating in the energy and financial services sectors in the state of Hawaii. Its principal subsidiary, Hawaiian Electric Company, provides generation, transmission, distribution and customer service to the island of Oahu, while its Maui Electric and Hawaii Electric Light Company subsidiaries serve Maui, Molokai, Lanai and Hawaii Island. The roots of the electric utility business trace back to 1891 when service first commenced in Honolulu.

Through its subsidiary Hawaii Gas, HEI extends its energy portfolio to include the distribution of natural gas and propane, supporting residential, commercial and industrial customers across the islands.