Hawaiian Electric Industries (NYSE:HE) Hits New 52-Week Low - Time to Sell?

Key Points

• Hawaiian Electric Industries shares fell to a new 52-week low of $9.79 and last traded near $9.97, below both their 50-day and 200-day moving averages.
• Analyst sentiment is strongly negative: two analysts rate the stock Hold and three rate it Sell, producing a “Strong Sell” consensus and an average price target of $9.25.
• The company’s latest quarterly earnings missed expectations, with EPS of $0.13 versus the $0.21 consensus estimate, while institutional investors own approximately 59.91% of the stock.

Hawaiian Electric Industries, Inc. (NYSE:HE - Get Free Report)'s stock price hit a new 52-week low during trading on Monday . The stock traded as low as $9.79 and last traded at $9.97, with a volume of 7143325 shares changing hands. The stock had previously closed at $9.80.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Barclays dropped their target price on Hawaiian Electric Industries from $13.00 to $12.00 and set an "equal weight" rating for the company in a research report on Tuesday, August 11th. LADENBURG THALM/SH SH assumed coverage on Hawaiian Electric Industries in a research report on Tuesday, September 8th. They issued a "sell" rating and a $7.00 price objective on the stock. Jefferies Financial Group raised shares of Hawaiian Electric Industries to a "moderate sell" rating in a research note on Thursday. 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. Finally, Zacks Research downgraded shares of Hawaiian Electric Industries from a "hold" rating to a "strong sell" rating in a research note on Tuesday, August 11th. Two research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Strong Sell" and an average price target of $9.25.

Hawaiian Electric Industries Price Performance

The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.57. The firm's 50-day moving average price is $11.94 and its two-hundred day moving average price is $13.47. The stock has a market cap of $1.70 billion, a PE ratio of 7.57 and a beta of 0.48.

Hawaiian Electric Industries (NYSE:HE - Get Free Report) last issued its quarterly earnings data on Friday, August 7th. The utilities provider reported $0.13 EPS for the quarter, missing analysts' consensus estimates of $0.21 by ($0.08). The business had revenue of $939.70 million during the quarter, compared to the consensus estimate of $939.70 million. Hawaiian Electric Industries had a return on equity of 7.90% and a net margin of 6.89%.During the same period last year, the firm earned $0.15 EPS. On average, equities analysts expect that Hawaiian Electric Industries, Inc. will post 0.8 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Hawaiian Electric Industries

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HE. EverSource Wealth Advisors LLC increased its holdings in shares of Hawaiian Electric Industries by 37.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 2,682 shares of the utilities provider's stock valued at $33,000 after acquiring an additional 737 shares in the last quarter. Allworth Financial LP purchased a new position in shares of Hawaiian Electric Industries in the 2nd quarter valued at approximately $63,000. Global Retirement Partners LLC acquired a new stake in Hawaiian Electric Industries in the 2nd quarter worth approximately $67,000. Kelleher Financial Advisors purchased a new stake in Hawaiian Electric Industries during the 2nd quarter worth approximately $68,000. Finally, Integrated Wealth Concepts LLC purchased a new stake in shares of Hawaiian Electric Industries during the second quarter valued at $87,000. 59.91% of the stock is currently owned by hedge funds and other institutional investors.

Hawaiian Electric Industries Company Profile

Hawaiian Electric Industries, Inc NYSE: HE is a Hawaii-based holding company whose principal businesses are electric utility operations and banking. Through its utility subsidiaries, the company generates, purchases, transmits and distributes electricity to residential, commercial and industrial customers across the Hawaiian Islands.

Hawaiian Electric Company serves Oahu, while Maui Electric Company provides service on Maui, Molokai and Lanai. Hawaii Electric Light serves customers on the island of Hawaii.

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