Hawaiian Electric Industries (NYSE:HE) Rating Lowered to "Sell" at StockNews.com

StockNews.com cut shares of Hawaiian Electric Industries (NYSE:HE - Free Report) from a hold rating to a sell rating in a report released on Tuesday morning.

HE has been the topic of several other reports. Evercore ISI lowered their price objective on shares of Hawaiian Electric Industries from $11.00 to $10.00 and set an "in-line" rating on the stock in a research report on Tuesday, November 19th. Barclays started coverage on shares of Hawaiian Electric Industries in a research report on Thursday, February 6th. They set an "equal weight" rating and a $10.00 price objective on the stock. Finally, Jefferies Financial Group reduced their price objective on Hawaiian Electric Industries from $11.50 to $10.50 and set a "hold" rating for the company in a research note on Friday, January 3rd. One research analyst has rated the stock with a sell rating and four have given a hold rating to the company's stock. According to MarketBeat, Hawaiian Electric Industries currently has a consensus rating of "Hold" and a consensus price target of $10.50.

Hawaiian Electric Industries Trading Down 1.9 %

HE stock traded down $0.20 during mid-day trading on Tuesday, reaching $10.16. 2,689,166 shares of the stock traded hands, compared to its average volume of 3,137,249. The company has a current ratio of 0.18, a quick ratio of 0.18 and a debt-to-equity ratio of 1.80. Hawaiian Electric Industries has a 52-week low of $7.61 and a 52-week high of $18.19. The company has a market cap of $1.75 billion, a P/E ratio of -0.86 and a beta of 0.53. The stock's fifty day moving average is $9.54 and its 200-day moving average is $10.69.

Institutional Trading of Hawaiian Electric Industries

Several hedge funds and other institutional investors have recently modified their holdings of HE. KBC Group NV raised its holdings in shares of Hawaiian Electric Industries by 34.8% during the 3rd quarter. KBC Group NV now owns 3,956 shares of the utilities provider's stock valued at $38,000 after purchasing an additional 1,021 shares in the last quarter. Commonwealth Equity Services LLC raised its holdings in shares of Hawaiian Electric Industries by 3.6% during the 4th quarter. Commonwealth Equity Services LLC now owns 31,078 shares of the utilities provider's stock valued at $302,000 after purchasing an additional 1,080 shares in the last quarter. Xponance Inc. raised its holdings in shares of Hawaiian Electric Industries by 10.9% during the 4th quarter. Xponance Inc. now owns 11,935 shares of the utilities provider's stock valued at $116,000 after purchasing an additional 1,171 shares in the last quarter. Diversified Trust Co boosted its stake in shares of Hawaiian Electric Industries by 2.9% during the 4th quarter. Diversified Trust Co now owns 41,455 shares of the utilities provider's stock worth $403,000 after acquiring an additional 1,184 shares in the last quarter. Finally, Comerica Bank boosted its stake in shares of Hawaiian Electric Industries by 69.3% during the 4th quarter. Comerica Bank now owns 4,189 shares of the utilities provider's stock worth $41,000 after acquiring an additional 1,715 shares in the last quarter. 59.91% of the stock is currently owned by hedge funds and other 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.