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

Investment analysts at LADENBURG THALM/SH SH initiated coverage on shares of Hawaiian Electric Industries (NYSE:HE) in a note issued to investors on Tuesday, Briefing.com reports. The brokerage set a “sell” rating and a $7.00 price target on the utilities provider’s stock. LADENBURG THALM/SH SH’s price objective points to a potential downside of 36.82% from the company’s previous close.

Other equities analysts have also issued research reports about the company. Zacks Research lowered Hawaiian Electric Industries from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 11th. Jefferies Financial Group reduced their price objective on Hawaiian Electric Industries from $13.75 to $11.75 and set an “underperform” rating on the stock in a research note on Monday, July 6th. Barclays decreased their target price on Hawaiian Electric Industries from $13.00 to $12.00 and set an “equal weight” rating on the stock in a research report on Tuesday, August 11th. Finally, Weiss Ratings raised shares of Hawaiian Electric Industries from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, August 11th. Two investment analysts have rated the stock with a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, Hawaiian Electric Industries has a consensus rating of “Strong Sell” and an average target price of $10.25.

Hawaiian Electric Industries Stock Performance

Shares of NYSE:HE opened at $11.08 on Tuesday. The company’s 50 day simple moving average is $12.52 and its 200 day simple moving average is $13.81. The stock has a market capitalization of $1.91 billion, a price-to-earnings ratio of 8.52 and a beta of 0.48. 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 $10.79 and a 1 year high of $17.38.

Hawaiian Electric Industries (NYSE:HE) last announced its quarterly earnings data 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 firm had revenue of $939.70 million for the quarter, compared to analyst estimates of $939.70 million. During the same quarter in the prior year, the firm earned $0.15 earnings per share. As a group, research analysts predict that Hawaiian Electric Industries will post 0.99 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in HE. Navalign LLC acquired a new stake in Hawaiian Electric Industries during the 4th quarter worth approximately $25,000. Caitong International Asset Management Co. Ltd grew its stake in shares of Hawaiian Electric Industries by 199,800.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,999 shares of the utilities provider’s stock worth $25,000 after purchasing an additional 1,998 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in Hawaiian Electric Industries by 142.2% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 2,325 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 1,365 shares during the period. Larson Financial Group LLC raised its position in Hawaiian Electric Industries by 242.2% during the 3rd quarter. Larson Financial Group LLC now owns 2,741 shares of the utilities provider’s stock worth $30,000 after purchasing an additional 1,940 shares during the last quarter. Finally, Tucker Asset Management LLC acquired a new position in Hawaiian Electric Industries during the 4th quarter worth about $32,000. Institutional investors and hedge funds own 59.91% of the company’s stock.

Hawaiian Electric Industries Company Profile

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.