Hawaiian Electric Industries (NYSE:HE) Earns Sell Rating from Analysts at LADENBURG THALM/SH SH

by · The Markets Daily

LADENBURG THALM/SH SH began coverage on shares of Hawaiian Electric Industries (NYSE:HE – Free Report) in a research report sent to investors on Tuesday, MarketBeat Ratings reports. The firm issued a sell rating and a $7.00 price target on the utilities provider’s stock.

Several other analysts have also recently issued reports on HE. Jefferies Financial Group decreased their target price on shares of Hawaiian Electric Industries from $13.75 to $11.75 and set an “underperform” rating on the stock in a research report on Monday, July 6th. Barclays dropped their price target on 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. Weiss Ratings raised Hawaiian Electric Industries from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, August 11th. Finally, Zacks Research downgraded Hawaiian Electric Industries from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 11th. Two research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, Hawaiian Electric Industries has a consensus rating of “Strong Sell” and a consensus target price of $10.25.

Get Our Latest Stock Analysis on Hawaiian Electric Industries

Hawaiian Electric Industries Stock Performance

NYSE HE opened at $10.46 on Tuesday. The company has a debt-to-equity ratio of 1.57, a current ratio of 0.99 and a quick ratio of 0.99. Hawaiian Electric Industries has a 1-year low of $10.28 and a 1-year high of $17.38. The business has a 50 day simple moving average of $12.34 and a two-hundred day simple moving average of $13.70. The stock has a market capitalization of $1.81 billion, a PE ratio of 8.05 and a beta of 0.48.

Hawaiian Electric Industries (NYSE:HE – Get Free Report) last issued its quarterly earnings data on Friday, August 7th. The utilities provider reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.08). The firm had revenue of $939.70 million for the quarter, compared to analysts’ expectations of $939.70 million. Hawaiian Electric Industries had a return on equity of 7.90% and a net margin of 6.89%.During the same period last year, the company earned $0.15 earnings per share. On average, research analysts predict that Hawaiian Electric Industries will post 0.8 EPS for the current fiscal year.

Hedge Funds Weigh In On Hawaiian Electric Industries

A number of large investors have recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in Hawaiian Electric Industries in the 2nd quarter worth about $358,318,000. Horizon Kinetics Asset Management LLC boosted its position in shares of Hawaiian Electric Industries by 6.2% during the fourth quarter. Horizon Kinetics Asset Management LLC now owns 19,392,363 shares of the utilities provider’s stock valued at $238,526,000 after buying an additional 1,134,646 shares during the period. State Street Corp grew its stake in shares of Hawaiian Electric Industries by 56.9% during the fourth quarter. State Street Corp now owns 7,005,768 shares of the utilities provider’s stock valued at $86,171,000 after buying an additional 2,540,134 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Hawaiian Electric Industries by 5.3% during the fourth quarter. Geode Capital Management LLC now owns 4,125,284 shares of the utilities provider’s stock valued at $50,750,000 after buying an additional 209,192 shares during the last quarter. Finally, Quantinno Capital Management LP raised its holdings in shares of Hawaiian Electric Industries by 8.3% in the first quarter. Quantinno Capital Management LP now owns 3,512,517 shares of the utilities provider’s stock worth $52,126,000 after buying an additional 270,546 shares during the period. 59.91% of the stock is owned by hedge funds and other institutional investors.

About Hawaiian Electric Industries

(Get Free Report)

Hawaiian Electric Industries, Inc is a diversified holding company operating in the energy and financial services sectors in the state of Hawaii. Its principal subsidiary, Hawaiian Electric Company, provides generation, transmission, distribution and customer service to the island of Oahu, while its Maui Electric and Hawaii Electric Light Company subsidiaries serve Maui, Molokai, Lanai and Hawaii Island. The roots of the electric utility business trace back to 1891 when service first commenced in Honolulu.

Through its subsidiary Hawaii Gas, HEI extends its energy portfolio to include the distribution of natural gas and propane, supporting residential, commercial and industrial customers across the islands.

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