StockNews.com downgraded shares of Hawaiian Electric Industries (NYSE:HE - Free Report) from a hold rating to a sell rating in a report released on Friday morning.
Several other research analysts have also weighed in on HE. Jefferies Financial Group assumed coverage on Hawaiian Electric Industries in a research report on Tuesday, December 3rd. They set a "hold" rating and a $11.50 price target on the stock. Evercore ISI lowered their target price on shares of Hawaiian Electric Industries from $11.00 to $10.00 and set an "in-line" rating on the stock in a report on Tuesday, November 19th. Finally, Wells Fargo & Company cut their price target on shares of Hawaiian Electric Industries from $14.00 to $11.50 and set an "equal weight" rating for the company in a research note on Monday, September 30th.
Check Out Our Latest Research Report on HE
Hawaiian Electric Industries Price Performance
Shares of NYSE:HE traded down $0.12 during midday trading on Friday, reaching $9.33. The company's stock had a trading volume of 2,816,698 shares, compared to its average volume of 3,171,949. Hawaiian Electric Industries has a fifty-two week low of $7.61 and a fifty-two week high of $18.19. The business's fifty day simple moving average is $10.19 and its 200-day simple moving average is $11.05. The company has a market capitalization of $1.61 billion, a P/E ratio of -0.79 and a beta of 0.53. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.18 and a quick ratio of 0.18.
Hawaiian Electric Industries (NYSE:HE - Get Free Report) last issued its quarterly earnings data on Friday, November 8th. The utilities provider reported $0.46 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.53 by ($0.07). The firm had revenue of $983.38 million for the quarter. Hawaiian Electric Industries had a negative net margin of 35.38% and a positive return on equity of 11.12%. The business's revenue for the quarter was up 9.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.37 EPS. As a group, equities research analysts expect that Hawaiian Electric Industries will post 1.71 EPS for the current fiscal year.
Institutional Trading of Hawaiian Electric Industries
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HE. Bank of New York Mellon Corp boosted its position in Hawaiian Electric Industries by 23.2% in 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 purchasing an additional 120,208 shares during the last quarter. Principal Financial Group Inc. bought a new position in Hawaiian Electric Industries during the second quarter valued at approximately $98,000. Van ECK Associates Corp lifted its stake in shares of Hawaiian Electric Industries by 9.5% in the 2nd quarter. Van ECK Associates Corp now owns 28,481 shares of the utilities provider's stock valued at $257,000 after acquiring an additional 2,482 shares during the last quarter. Rhumbline Advisers increased its position in shares of Hawaiian Electric Industries by 56.2% in the second quarter. Rhumbline Advisers now owns 175,675 shares of the utilities provider's stock valued at $1,585,000 after acquiring an additional 63,241 shares during the period. Finally, Victory Capital Management Inc. raised its holdings in shares of Hawaiian Electric Industries by 62.0% during the second quarter. Victory Capital Management Inc. now owns 62,952 shares of the utilities provider's stock valued at $568,000 after acquiring an additional 24,087 shares in the last quarter. 59.91% of the stock is owned by institutional investors.
Hawaiian Electric Industries Company Profile
(
Get Free Report)
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.
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