Hawaiian Electric Industries (NYSE:HE) Coverage Initiated by Analysts at LADENBURG THALM/SH SH

Key Points

• Ladenburg Thalmann initiated coverage of Hawaiian Electric Industries with a “sell” rating and a $7.00 price target, implying approximately 36.8% downside from the stock’s $11.08 opening price.
• Analyst sentiment is broadly negative: MarketBeat reports a consensus “strong sell” rating from five analysts, with an average price target of $10.25.
• Hawaiian Electric’s latest quarterly EPS of $0.13 missed the $0.21 consensus estimate, although revenue of $939.7 million matched expectations.

Stock analysts at LADENBURG THALM/SH SH began coverage on shares of Hawaiian Electric Industries (NYSE:HE - Get Free Report) in a research note issued on Tuesday, Briefing.com reports. The firm set a "sell" rating and a $7.00 price target on the utilities provider's stock. LADENBURG THALM/SH SH's price objective would suggest a potential downside of 36.82% from the stock's current price.

Several other analysts also recently issued reports on the company. Barclays reduced 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. Jefferies Financial Group dropped their target price on Hawaiian Electric Industries from $13.75 to $11.75 and set an "underperform" rating for the company in a report on Monday, July 6th. Zacks Research cut shares of Hawaiian Electric Industries from a "hold" rating to a "strong sell" rating in a research report on Tuesday, August 11th. Finally, Weiss Ratings upgraded shares of Hawaiian Electric Industries from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Tuesday, August 11th. Two research analysts have rated the stock with a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Strong Sell" and an average target price of $10.25.

Hawaiian Electric Industries Trading Down 0.1%

Shares of HE stock opened at $11.08 on Tuesday. Hawaiian Electric Industries has a 12-month low of $10.79 and a 12-month high of $17.38. The company has a market capitalization of $1.91 billion, a PE ratio of 8.52 and a beta of 0.48. The firm has a 50 day moving average price of $12.52 and a two-hundred day moving average price of $13.81. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.57.

Hawaiian Electric Industries (NYSE:HE - Get Free Report) last posted its 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). The firm had revenue of $939.70 million during the quarter, compared to analyst estimates of $939.70 million. Hawaiian Electric Industries had a net margin of 6.89% and a return on equity of 7.90%. During the same period in the previous year, the company posted $0.15 EPS. As a group, analysts predict that Hawaiian Electric Industries will post 0.99 earnings per share for the current year.

Hedge Funds Weigh In On Hawaiian Electric Industries

Hedge funds have recently added to or reduced their stakes in the stock. Corient Private Wealth LP raised its holdings in Hawaiian Electric Industries by 41.6% in the 2nd quarter. Corient Private Wealth LP now owns 490,229 shares of the utilities provider's stock valued at $6,633,000 after acquiring an additional 144,124 shares in the last quarter. Amundi grew its holdings in shares of Hawaiian Electric Industries by 77.0% during the 2nd quarter. Amundi now owns 30,905 shares of the utilities provider's stock worth $418,000 after purchasing an additional 13,443 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Hawaiian Electric Industries in the second quarter worth $1,207,000. California State Teachers Retirement System increased its position in shares of Hawaiian Electric Industries by 1,216.4% in the second quarter. California State Teachers Retirement System now owns 2,699,952 shares of the utilities provider's stock worth $36,530,000 after purchasing an additional 2,494,858 shares during the period. Finally, Nykredit A S acquired a new position in Hawaiian Electric Industries in the second quarter valued at about $88,000. Institutional investors own 59.91% of the company's stock.

About Hawaiian Electric Industries

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.