Hawaiian Electric Industries (NYSE:HE) Reaches New 12-Month Low - Should You Sell?

Key Points

• Hawaiian Electric Industries fell to a new 52-week low of $10.20, trading near $10.27 and below its 50-day and 200-day moving averages.
• Analyst sentiment is strongly negative: the stock has an average “Strong Sell” rating, with three Sell ratings and two Holds. Price targets were cut by several firms, and the consensus target is $10.25, while Ladenburg Thalmann set a $7 target.
• The company reported quarterly EPS of $0.13, missing the $0.21 consensus estimate, although revenue of $939.7 million matched expectations. Institutional investors own approximately 59.9% of the stock.

Hawaiian Electric Industries, Inc. (NYSE:HE - Get Free Report)'s stock price hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $10.20 and last traded at $10.2680, with a volume of 77609 shares traded. The stock had previously closed at $10.36.

Analysts Set New Price Targets

Several research analysts have weighed in on HE shares. Jefferies Financial Group decreased 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 report on Monday, July 6th. Zacks Research lowered Hawaiian Electric Industries from a "hold" rating to a "strong sell" rating in a report on Tuesday, August 11th. Weiss Ratings raised Hawaiian Electric Industries from a "sell (d+)" rating to a "hold (c-)" rating in a report on Tuesday, August 11th. Barclays cut their price objective on Hawaiian Electric Industries from $13.00 to $12.00 and set an "equal weight" rating on the stock in a research note on Tuesday, August 11th. Finally, LADENBURG THALM/SH SH initiated coverage on Hawaiian Electric Industries in a research report on Tuesday, September 8th. They issued a "sell" rating and a $7.00 target price for the company. Two research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, Hawaiian Electric Industries currently has an average rating of "Strong Sell" and a consensus price target of $10.25.

Hawaiian Electric Industries Stock Down 0.6%

The firm has a market cap of $1.78 billion, a price-to-earnings ratio of 7.92 and a beta of 0.48. The stock has a 50-day moving average of $12.21 and a 200-day moving average of $13.62. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.57.

Hawaiian Electric Industries (NYSE:HE - Get Free Report) last released its quarterly 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). Hawaiian Electric Industries had a return on equity of 7.90% and a net margin of 6.89%.The firm had revenue of $939.70 million for the quarter, compared to the consensus estimate of $939.70 million. During the same quarter in the prior year, the company posted $0.15 EPS. As a group, sell-side analysts forecast that Hawaiian Electric Industries, Inc. will post 0.8 EPS for the current fiscal year.

Institutional Investors Weigh In On Hawaiian Electric Industries

A number of hedge funds have recently made changes to their positions in HE. EverSource Wealth Advisors LLC boosted its stake in Hawaiian Electric Industries by 37.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 2,682 shares of the utilities provider's stock valued at $33,000 after purchasing an additional 737 shares in the last quarter. Bleakley Financial Group LLC raised its stake in shares of Hawaiian Electric Industries by 1.8% in the 1st quarter. Bleakley Financial Group LLC now owns 56,974 shares of the utilities provider's stock worth $845,000 after buying an additional 985 shares in the last quarter. Truist Financial Corp raised its stake in shares of Hawaiian Electric Industries by 6.3% in the 4th quarter. Truist Financial Corp now owns 16,929 shares of the utilities provider's stock worth $208,000 after buying an additional 1,004 shares in the last quarter. Pecaut & CO. lifted its holdings in shares of Hawaiian Electric Industries by 3.3% in the second quarter. Pecaut & CO. now owns 41,300 shares of the utilities provider's stock valued at $559,000 after buying an additional 1,300 shares during the period. Finally, Baker Avenue Asset Management LP lifted its holdings in shares of Hawaiian Electric Industries by 8.2% in the fourth quarter. Baker Avenue Asset Management LP now owns 18,816 shares of the utilities provider's stock valued at $231,000 after buying an additional 1,433 shares during the period. Institutional investors own 59.91% of the company's stock.

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.

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.