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

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

Several other brokerages have also recently commented on HE. 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 research report on Friday, August 23rd. Evercore ISI reiterated an “in-line” rating and set a $16.00 target price on shares of Hawaiian Electric Industries in a report on Wednesday, August 14th.

Hawaiian Electric Industries Stock Up 5.2 %

Shares of HE stock traded up $0.61 on Monday, hitting $12.23. 5,060,510 shares of the stock were exchanged, compared to its average volume of 3,092,126. The business has a 50-day moving average of $13.12 and a 200 day moving average of $11.39. Hawaiian Electric Industries has a fifty-two week low of $7.61 and a fifty-two week high of $18.19. The firm has a market capitalization of $1.35 billion, a P/E ratio of 7.24 and a beta of 0.55. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 2.62.

Hawaiian Electric Industries (NYSE:HE) last posted its quarterly earnings data on Friday, August 9th. The utilities provider reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.05). Hawaiian Electric Industries had a negative net margin of 31.76% and a positive return on equity of 10.69%. The business had revenue of $792.30 million during the quarter. The business’s quarterly revenue was down .2% compared to the same quarter last year.

Institutional Trading of Hawaiian Electric Industries

Several institutional investors and hedge funds have recently added to or reduced their stakes in HE. AQR Capital Management LLC grew its position in shares of Hawaiian Electric Industries by 52.8% in the 2nd quarter. AQR Capital Management LLC now owns 6,693,424 shares of the utilities provider’s stock valued at $60,308,000 after acquiring an additional 2,312,950 shares during the period. Millennium Management LLC lifted its holdings in Hawaiian Electric Industries by 79.0% during the 2nd quarter. Millennium Management LLC now owns 1,870,088 shares of the utilities provider’s stock worth $16,868,000 after purchasing an additional 825,073 shares during the last quarter. Verition Fund Management LLC acquired a new position in Hawaiian Electric Industries in the 4th quarter valued at $8,944,000. Charles Schwab Investment Management Inc. increased its position in Hawaiian Electric Industries by 21.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,621,304 shares of the utilities provider’s stock worth $23,006,000 after buying an additional 285,955 shares during the period. Finally, Wellington Management Group LLP acquired a new stake in shares of Hawaiian Electric Industries during the fourth quarter worth $2,370,000. 59.91% of the stock is owned by institutional investors.

About Hawaiian Electric Industries

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.