Hawaiian Electric Industries, Inc. (NYSE:HE) Receives Consensus Rating of "Strong Sell" from Analysts

Key Points

• Analysts have a “Strong Sell” consensus on Hawaiian Electric Industries, with three sell ratings and two holds among five covering firms. The average 12-month price target is $10.25, below the reported share price of $10.90.
• Recent analyst actions were largely negative: Zacks Research downgraded the stock to “strong sell,” while Jefferies, Ladenburg Thalmann and Barclays issued bearish or neutral ratings with price targets ranging from $7.00 to $12.00.
• Hawaiian Electric missed quarterly earnings expectations, reporting $0.13 in EPS versus a $0.21 consensus estimate, although revenue matched forecasts at $939.7 million. Institutional investors own approximately 59.91% of the company.

Shares of Hawaiian Electric Industries, Inc. (NYSE:HE - Get Free Report) have earned a consensus rating of "Strong Sell" from the five research firms that are currently covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a sell rating and two have given a hold rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $10.25.

Several brokerages have recently issued reports on HE. Weiss Ratings raised Hawaiian Electric Industries from a "sell (d+)" rating to a "hold (c-)" rating in a report on Tuesday, August 11th. Barclays reduced their price target on shares of 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. 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. Jefferies Financial Group dropped their price objective on shares of Hawaiian Electric Industries from $13.75 to $11.75 and set an "underperform" rating for the company in a research note on Monday, July 6th. Finally, LADENBURG THALM/SH SH started coverage on shares of Hawaiian Electric Industries in a report on Tuesday. They issued a "sell" rating and a $7.00 target price on the stock.

Hedge Funds Weigh In On Hawaiian Electric Industries

A number of large investors have recently made changes to their positions in HE. Navalign LLC bought a new stake in Hawaiian Electric Industries in the fourth quarter worth about $25,000. Caitong International Asset Management Co. Ltd grew its stake in shares of Hawaiian Electric Industries by 199,800.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,999 shares of the utilities provider's stock valued at $25,000 after buying an additional 1,998 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in shares of Hawaiian Electric Industries by 142.2% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 2,325 shares of the utilities provider's stock valued at $26,000 after buying an additional 1,365 shares during the last quarter. Larson Financial Group LLC raised its holdings in shares of Hawaiian Electric Industries by 242.2% in the third quarter. Larson Financial Group LLC now owns 2,741 shares of the utilities provider's stock worth $30,000 after buying an additional 1,940 shares during the period. Finally, Tucker Asset Management LLC purchased a new stake in shares of Hawaiian Electric Industries in the fourth quarter worth approximately $32,000. 59.91% of the stock is owned by hedge funds and other institutional investors.

Hawaiian Electric Industries Price Performance

Shares of Hawaiian Electric Industries stock traded down $0.18 on Tuesday, hitting $10.90. 181,680 shares of the company traded hands, compared to its average volume of 2,258,317. Hawaiian Electric Industries has a 52 week low of $10.76 and a 52 week high of $17.38. The business has a 50-day simple moving average of $12.52 and a 200 day simple moving average of $13.81. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.99 and a current ratio of 0.99. The stock has a market capitalization of $1.88 billion, a P/E ratio of 8.36 and a beta of 0.48.

Hawaiian Electric Industries (NYSE:HE - Get Free Report) last posted its earnings results on Friday, August 7th. The utilities provider reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.21 by ($0.08). The company had revenue of $939.70 million for the quarter, compared to analysts' expectations 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 business posted $0.15 earnings per share. Research analysts expect that Hawaiian Electric Industries will post 0.99 earnings per share for the current fiscal year.

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.

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