BidaskClub lowered shares of Hawaiian Electric Industries, Inc. (NYSE:HE) from a sell rating to a strong sell rating in a research note issued to investors on Wednesday.

A number of other equities research analysts have also recently commented on HE. Barclays PLC restated an underweight rating and set a $29.00 target price (up previously from $27.00) on shares of Hawaiian Electric Industries in a research note on Sunday, April 23rd. Zacks Investment Research lowered shares of Hawaiian Electric Industries from a hold rating to a sell rating in a report on Friday, May 26th.

Shares of Hawaiian Electric Industries (NYSE HE) traded up 1.06% during midday trading on Wednesday, reaching $32.31. 73,630 shares of the company’s stock traded hands. The stock’s 50-day moving average price is $32.89 and its 200 day moving average price is $33.12. Hawaiian Electric Industries has a one year low of $28.31 and a one year high of $34.08. The firm has a market capitalization of $3.51 billion, a PE ratio of 14.07 and a beta of 0.45.

Hawaiian Electric Industries (NYSE:HE) last released its earnings results on Friday, May 5th. The utilities provider reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.02. Hawaiian Electric Industries had a net margin of 10.41% and a return on equity of 9.35%. The company had revenue of $591.56 million for the quarter, compared to analysts’ expectations of $555.45 million. On average, equities research analysts expect that Hawaiian Electric Industries will post $1.64 earnings per share for the current fiscal year.

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A number of large investors have recently made changes to their positions in HE. Envestnet Asset Management Inc. raised its stake in shares of Hawaiian Electric Industries by 25.9% in the fourth quarter. Envestnet Asset Management Inc. now owns 3,057 shares of the utilities provider’s stock worth $101,000 after buying an additional 628 shares during the period. Airain ltd bought a new stake in shares of Hawaiian Electric Industries during the first quarter worth about $203,000. NTV Asset Management LLC bought a new stake in shares of Hawaiian Electric Industries during the first quarter worth about $209,000. World Asset Management Inc raised its stake in shares of Hawaiian Electric Industries by 2.0% in the first quarter. World Asset Management Inc now owns 6,723 shares of the utilities provider’s stock worth $224,000 after buying an additional 135 shares during the period. Finally, State of Alaska Department of Revenue raised its stake in shares of Hawaiian Electric Industries by 4.7% in the first quarter. State of Alaska Department of Revenue now owns 6,823 shares of the utilities provider’s stock worth $227,000 after buying an additional 306 shares during the period. 48.28% of the stock is owned by institutional investors and hedge funds.

Hawaiian Electric Industries Company Profile

Hawaiian Electric Industries, Inc is a holding company with its principal subsidiaries engaged in electric utility and banking businesses operating primarily in the State of Hawaii. The Company’s subsidiaries include Hawaiian Electric Company, Inc (Hawaiian Electric) and ASB Hawaii, Inc (ASB Hawaii).

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