Hawaiian Electric Industries, Inc. (NYSE:HE) Receives Consensus Recommendation of “Strong Sell” from Analysts

Shares of Hawaiian Electric Industries, Inc. (NYSE:HE) have received an average recommendation of “Strong Sell” from the five research firms that are presently covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a sell rating and two have issued a hold rating on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $10.25.

A number of brokerages have commented on HE. LADENBURG THALM/SH SH assumed coverage on Hawaiian Electric Industries in a research note on Tuesday, September 8th. They issued a “sell” rating and a $7.00 target price on the stock. Barclays cut 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 note 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. Jefferies Financial Group dropped their price objective on Hawaiian Electric Industries from $13.75 to $11.75 and set an “underperform” rating on the stock in a report on Monday, July 6th. Finally, Zacks Research lowered shares of Hawaiian Electric Industries from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 11th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. EverSource Wealth Advisors LLC raised its stake in shares of Hawaiian Electric Industries by 37.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,682 shares of the utilities provider’s stock valued at $33,000 after acquiring an additional 737 shares in the last quarter. SBI Securities Co. Ltd. lifted its holdings in Hawaiian Electric Industries by 9.4% in the 4th quarter. SBI Securities Co. Ltd. now owns 9,523 shares of the utilities provider’s stock worth $117,000 after purchasing an additional 816 shares during the last quarter. CWM LLC boosted its position in Hawaiian Electric Industries by 41.3% during the fourth quarter. CWM LLC now owns 3,210 shares of the utilities provider’s stock worth $39,000 after purchasing an additional 939 shares during the period. Bleakley Financial Group LLC boosted its position in Hawaiian Electric Industries by 1.8% during the first quarter. Bleakley Financial Group LLC now owns 56,974 shares of the utilities provider’s stock worth $845,000 after purchasing an additional 985 shares during the period. Finally, Truist Financial Corp grew its holdings in Hawaiian Electric Industries by 6.3% during the fourth quarter. Truist Financial Corp now owns 16,929 shares of the utilities provider’s stock valued at $208,000 after purchasing an additional 1,004 shares during the last quarter. Institutional investors own 59.91% of the company’s stock.

Hawaiian Electric Industries Stock Down 0.3%

HE stock opened at $10.35 on Tuesday. Hawaiian Electric Industries has a 12-month low of $10.28 and a 12-month high of $17.38. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.57. The company has a market cap of $1.79 billion, a price-to-earnings ratio of 7.96 and a beta of 0.48. The company has a 50 day moving average of $12.21 and a two-hundred day moving average of $13.62.

Hawaiian Electric Industries (NYSE:HE) last posted its quarterly 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 company had revenue of $939.70 million for the quarter, compared to analysts’ expectations of $939.70 million. During the same quarter in the prior year, the firm earned $0.15 earnings per share. On average, equities analysts anticipate that Hawaiian Electric Industries will post 0.8 earnings per share for the current fiscal year.

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.