StockNews.com Downgrades Hawaiian Electric Industries (NYSE:HE) to Sell

Hawaiian Electric Industries (NYSE:HE) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a report issued on Tuesday.

HE has been the subject of several other reports. Barclays initiated 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 cut their price objective on shares of Hawaiian Electric Industries from $11.50 to $10.50 and set a “hold” rating on the stock in a report on Friday, January 3rd. Finally, Evercore ISI cut 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 report on Tuesday, November 19th. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $10.50.

Hawaiian Electric Industries Stock Performance

Hawaiian Electric Industries stock opened at $10.82 on Tuesday. The company has a quick ratio of 0.18, a current ratio of 0.18 and a debt-to-equity ratio of 1.80. The company has a market capitalization of $1.87 billion, a PE ratio of -0.91 and a beta of 0.53. The firm has a fifty day simple moving average of $9.52 and a two-hundred day simple moving average of $10.69. Hawaiian Electric Industries has a twelve month low of $7.61 and a twelve month high of $18.19.

Institutional Investors Weigh In On Hawaiian Electric Industries

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in Hawaiian Electric Industries by 6.5% in the fourth quarter. Vanguard Group Inc. now owns 18,231,969 shares of the utilities provider’s stock worth $177,397,000 after purchasing an additional 1,112,150 shares during the last quarter. Zimmer Partners LP purchased a new stake in Hawaiian Electric Industries in the third quarter worth approximately $145,200,000. FMR LLC raised its position in Hawaiian Electric Industries by 7,986.3% in the third quarter. FMR LLC now owns 5,340,679 shares of the utilities provider’s stock worth $51,698,000 after acquiring an additional 5,274,633 shares during the period. Geode Capital Management LLC raised its position in Hawaiian Electric Industries by 3.5% in the fourth quarter. Geode Capital Management LLC now owns 3,925,882 shares of the utilities provider’s stock worth $38,208,000 after acquiring an additional 132,740 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in Hawaiian Electric Industries by 14.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,471,522 shares of the utilities provider’s stock worth $33,778,000 after acquiring an additional 449,873 shares during the period. Hedge funds and other institutional investors own 59.91% of the company’s stock.

Hawaiian Electric Industries Company Profile

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.