Hawaiian Electric Industries (NYSE:HE) Upgraded by Jefferies Financial Group to Moderate Sell Rating

Jefferies Financial Group upgraded shares of Hawaiian Electric Industries (NYSE:HE) to a moderate sell rating in a research report report published on Thursday,Zacks reports.

Other equities research analysts also recently issued reports about the stock. Barclays decreased their target price on shares of Hawaiian Electric Industries from $13.00 to $12.00 and set an “equal weight” rating for the company in a research report on Tuesday, August 11th. Zacks Research downgraded Hawaiian Electric Industries from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 11th. LADENBURG THALM/SH SH began coverage on Hawaiian Electric Industries in a report on Tuesday, September 8th. They set a “sell” rating and a $7.00 price objective for the company. Finally, Weiss Ratings raised Hawaiian Electric Industries from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, August 11th. Two research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Strong Sell” and a consensus target price of $9.25.

Hawaiian Electric Industries Trading Down 2.8%

HE opened at $9.80 on Thursday. The company has a fifty day moving average price of $11.94 and a two-hundred day moving average price of $13.48. Hawaiian Electric Industries has a 1-year low of $9.79 and a 1-year high of $17.38. The company has a market cap of $1.69 billion, a P/E ratio of 7.54 and a beta of 0.48. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.57.

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

Institutional Trading of Hawaiian Electric Industries

Large investors have recently bought and sold shares of the company. BlackRock Inc. bought a new stake in shares of Hawaiian Electric Industries during the second quarter valued at about $358,318,000. Horizon Kinetics Asset Management LLC increased its holdings in Hawaiian Electric Industries by 6.2% during the 4th quarter. Horizon Kinetics Asset Management LLC now owns 19,392,363 shares of the utilities provider’s stock worth $238,526,000 after acquiring an additional 1,134,646 shares during the period. Quantinno Capital Management LP boosted its holdings in Hawaiian Electric Industries by 8.3% in the 1st quarter. Quantinno Capital Management LP now owns 3,512,517 shares of the utilities provider’s stock valued at $52,126,000 after purchasing an additional 270,546 shares during the period. Bank of America Corp DE boosted its holdings in Hawaiian Electric Industries by 111.6% in the 1st quarter. Bank of America Corp DE now owns 2,734,135 shares of the utilities provider’s stock valued at $40,575,000 after purchasing an additional 1,442,031 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in shares of Hawaiian Electric Industries by 15.9% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,563,708 shares of the utilities provider’s stock valued at $38,045,000 after purchasing an additional 351,602 shares in the last quarter. 59.91% of the stock is owned by hedge funds and other institutional investors.

Hawaiian Electric Industries Company Profile

Hawaiian Electric Industries, Inc (NYSE: HE) is a Hawaii-based holding company whose principal businesses are electric utility operations and banking. Through its utility subsidiaries, the company generates, purchases, transmits and distributes electricity to residential, commercial and industrial customers across the Hawaiian Islands.

Hawaiian Electric Company serves Oahu, while Maui Electric Company provides service on Maui, Molokai and Lanai. Hawaii Electric Light serves customers on the island of Hawaii.