Hawaiian Electric Industries (NYSE:HE) Downgraded by StockNews.com to “Sell”

StockNews.com lowered shares of Hawaiian Electric Industries (NYSE:HE) from a hold rating to a sell rating in a report issued on Tuesday morning.

A number of other research analysts have also recently weighed in on the stock. Barclays assumed coverage on shares of Hawaiian Electric Industries in a research note on Thursday, February 6th. They set an “equal weight” rating and a $10.00 price objective for the company. Jefferies Financial Group lowered their price objective on shares of 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. Finally, Evercore ISI lowered their price objective on shares of Hawaiian Electric Industries from $11.00 to $10.00 and set an “in-line” rating for the company in a research note on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $10.50.

Hawaiian Electric Industries Price Performance

HE stock opened at $10.37 on Tuesday. The firm has a 50 day moving average of $9.54 and a 200-day moving average of $10.69. Hawaiian Electric Industries has a 12-month low of $7.61 and a 12-month high of $18.19. The company has a current ratio of 0.18, a quick ratio of 0.18 and a debt-to-equity ratio of 1.80. The company has a market cap of $1.79 billion, a price-to-earnings ratio of -0.88 and a beta of 0.53.

Hedge Funds Weigh In On Hawaiian Electric Industries

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Blue Trust Inc. raised its stake in shares of Hawaiian Electric Industries by 203.0% in the 4th quarter. Blue Trust Inc. now owns 3,078 shares of the utilities provider’s stock valued at $30,000 after purchasing an additional 2,062 shares in the last quarter. R Squared Ltd acquired a new stake in shares of Hawaiian Electric Industries in the 4th quarter valued at about $36,000. KBC Group NV raised its stake in shares of Hawaiian Electric Industries by 34.8% in 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. UMB Bank n.a. acquired a new stake in shares of Hawaiian Electric Industries in the 3rd quarter valued at about $42,000. Finally, Quarry LP raised its stake in shares of Hawaiian Electric Industries by 156.6% in the 3rd quarter. Quarry LP now owns 4,503 shares of the utilities provider’s stock valued at $44,000 after purchasing an additional 2,748 shares in the last quarter. Institutional investors and hedge funds own 59.91% of the company’s stock.

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.