Hawaiian Electric Industries (NYSE:HE) Sets New 52-Week Low - Should You Sell?

Key Points

• Hawaiian Electric Industries shares fell to a new 52-week low of $8.88, below the previous close of $9.10, with the stock down 2.6% during the session.
• Analyst sentiment is strongly negative: three analysts rate the stock a Sell and two rate it Hold, producing a consensus “Strong Sell” rating and a $9.25 price target. Recent targets include $7.00 from Ladenburg Thalmann and $12.00 from Barclays.
• The company missed quarterly earnings expectations, reporting $0.13 in EPS versus a $0.21 consensus estimate, while institutional investors and hedge funds own approximately 59.91% of the stock.

Shares of Hawaiian Electric Industries, Inc. (NYSE:HE - Get Free Report) reached a new 52-week low during mid-day trading on Monday. The stock traded as low as $8.88 and last traded at $8.9050, with a volume of 116283 shares. The stock had previously closed at $9.10.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. LADENBURG THALM/SH SH started coverage on Hawaiian Electric Industries in a research note on Tuesday, September 8th. They set a "sell" rating and a $7.00 target price for the company. Jefferies Financial Group raised shares of Hawaiian Electric Industries to a "moderate sell" rating in a report on Thursday, September 17th. 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. 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. Finally, Barclays decreased their price objective on shares of Hawaiian Electric Industries from $13.00 to $12.00 and set an "equal weight" rating for the company in a report on Tuesday, August 11th. Two research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Strong Sell" and a consensus price target of $9.25.

Hawaiian Electric Industries Stock Down 2.6%

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 firm has a market capitalization of $1.53 billion, a P/E ratio of 6.83 and a beta of 0.48. The stock has a fifty day moving average price of $11.52 and a two-hundred day moving average price of $13.25.

Hawaiian Electric Industries (NYSE:HE - Get Free Report) last announced its quarterly earnings data on Friday, August 7th. The utilities provider reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.08). The firm had revenue of $939.70 million for 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 quarter last year, the business earned $0.15 earnings per share. Research analysts forecast that Hawaiian Electric Industries, Inc. will post 0.8 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of HE. Bank of America Corp DE raised its position in shares of Hawaiian Electric Industries by 111.6% during the 1st quarter. Bank of America Corp DE now owns 2,734,135 shares of the utilities provider's stock worth $40,575,000 after purchasing an additional 1,442,031 shares during the period. Corient Private Wealth LP acquired a new position in Hawaiian Electric Industries during the 2nd quarter valued at approximately $6,713,000. Legal & General Group Plc acquired a new position in Hawaiian Electric Industries during the 2nd quarter valued at approximately $8,620,000. Illinois Municipal Retirement Fund bought a new position in Hawaiian Electric Industries during the 1st quarter worth $1,371,000. Finally, Allspring Global Investments Holdings LLC bought a new position in Hawaiian Electric Industries during the 1st quarter worth $2,697,000. 59.91% of the stock is owned by institutional investors and hedge funds.

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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