Hawaiian Electric Industries, Inc. (NYSE:HE) Stock Now Rated “Strong Sell” by Sell-Side Analysts

Hawaiian Electric Industries, Inc. (NYSE:HE) has received a consensus recommendation of “Strong Sell” from the five ratings firms that are presently covering the company, MarketBeat.com reports. Four analysts have rated the stock with a sell rating and one has issued a hold rating on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $8.25.

Several analysts have recently weighed in on the stock. Weiss Ratings lowered shares of Hawaiian Electric Industries from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, September 25th. Jefferies Financial Group raised Hawaiian Electric Industries to a “moderate sell” rating in a research report on Thursday, September 17th. Barclays cut their target price on Hawaiian Electric Industries from $12.00 to $9.00 and set an “equal weight” rating on the stock in a report on Wednesday. LADENBURG THALM/SH SH began coverage on shares of Hawaiian Electric Industries in a research report on Tuesday, September 8th. They issued a “sell” rating and a $7.00 price target for the company. Finally, Zacks Research lowered shares of Hawaiian Electric Industries from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 11th.

Hedge Funds Weigh In On Hawaiian Electric Industries

A number of hedge funds have recently added to or reduced their stakes in the stock. Pecaut & CO. lifted its stake in Hawaiian Electric Industries by 3.3% during the 2nd quarter. Pecaut & CO. now owns 41,300 shares of the utilities provider’s stock valued at $559,000 after acquiring an additional 1,300 shares in the last quarter. WINTON GROUP Ltd grew its stake in shares of Hawaiian Electric Industries by 2.0% in the 2nd quarter. WINTON GROUP Ltd now owns 83,880 shares of the utilities provider’s stock worth $1,135,000 after acquiring an additional 1,619 shares in the last quarter. Integrated Wealth Concepts LLC bought a new stake in shares of Hawaiian Electric Industries in the 2nd quarter worth $87,000. Nykredit A S purchased a new stake in shares of Hawaiian Electric Industries in the second quarter valued at about $88,000. Finally, Corient Private Wealth LP raised its holdings in shares of Hawaiian Electric Industries by 41.6% in the second quarter. Corient Private Wealth LP now owns 490,229 shares of the utilities provider’s stock valued at $6,633,000 after purchasing an additional 144,124 shares during the last quarter. Institutional investors and hedge funds own 59.91% of the company’s stock.

Hawaiian Electric Industries Trading Down 0.4%

NYSE HE opened at $8.89 on Friday. The stock has a market capitalization of $1.54 billion, a P/E ratio of 6.84 and a beta of 0.49. The business has a 50 day simple moving average of $11.07 and a 200 day simple moving average of $13.06. 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 has a one year low of $8.68 and a one year high of $17.38.

Hawaiian Electric Industries (NYSE:HE) last issued its quarterly earnings results on Friday, August 7th. The utilities provider reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.08). The business had revenue of $939.70 million during the quarter, compared to analyst estimates of $939.70 million. Hawaiian Electric Industries had a net margin of 6.89% and a return on equity of 7.90%. During the same period last year, the firm posted $0.15 earnings per share. Research analysts expect that Hawaiian Electric Industries will post 0.8 earnings per share for the current year.

Hawaiian Electric Industries Company Profile

Hawaiian Electric Industries, Inc (NYSE: HE) is a Hawaii-based holding company whose principal business is the generation, transmission, distribution and sale of electricity through its operating utility subsidiaries. Hawaiian Electric serves customers on the islands of Oahu, Maui, Molokai, Lanai and Hawaii Island.

The company’s electric utilities include Hawaiian Electric Company, Hawaii Electric Light and Maui Electric. Their operations include maintaining the state’s electric grid, integrating renewable energy resources and supporting the transition toward cleaner power generation.