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

Key Points

• Hawaiian Electric shares fell to a new 52-week low of $8.68, trading below both their 50-day and 200-day moving averages.
• Analysts have grown increasingly bearish: four analysts rate the stock a Sell, one rates it Hold, and the consensus is “Strong Sell” with a $7.67 price target.
• The company reported quarterly EPS of $0.13, missing estimates of $0.21, while institutional investors own approximately 59.91% of its outstanding shares.

Hawaiian Electric Industries, Inc. (NYSE:HE - Get Free Report) shares hit a new 52-week low during trading on Thursday. The stock traded as low as $8.68 and last traded at $8.6550, with a volume of 414455 shares. The stock had previously closed at $8.77.

Analysts Set New Price Targets

HE has been the topic of several research reports. Weiss Ratings lowered Hawaiian Electric Industries from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Friday, September 25th. Jefferies Financial Group lowered their target price on shares of Hawaiian Electric Industries from $8.75 to $7.00 and set an "underperform" rating for the company in a research note on Tuesday. Barclays dropped their target price on shares of Hawaiian Electric Industries from $12.00 to $9.00 and set an "equal weight" rating on the stock in a report on Wednesday, September 30th. LADENBURG THALM/SH SH assumed coverage on shares of Hawaiian Electric Industries in a report on Tuesday, September 8th. They issued a "sell" rating and a $7.00 price target for the company. Finally, Zacks Research downgraded shares of Hawaiian Electric Industries from a "hold" rating to a "strong sell" rating in a research report on Tuesday, August 11th. One investment analyst has rated the stock with a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Strong Sell" and a consensus price target of $7.67.

Hawaiian Electric Industries Stock Performance

The stock has a market capitalization of $1.50 billion, a P/E ratio of 6.68 and a beta of 0.49. The stock has a 50 day moving average of $10.81 and a 200 day moving average of $12.93. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.99 and a current ratio of 0.99.

Hawaiian Electric Industries (NYSE:HE - Get Free Report) last issued 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). Hawaiian Electric Industries had a return on equity of 7.90% and a net margin of 6.89%.The company had revenue of $939.70 million during the quarter, compared to analyst estimates of $939.70 million. During the same period in the prior year, the business earned $0.15 earnings per share. Equities analysts predict that Hawaiian Electric Industries, Inc. will post 0.8 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Elevation Wealth Partners LLC grew its holdings in Hawaiian Electric Industries by 961.8% in the 3rd quarter. Elevation Wealth Partners LLC now owns 3,695 shares of the utilities provider's stock worth $33,000 after buying an additional 3,347 shares in the last quarter. Pecaut & CO. raised its stake in Hawaiian Electric Industries by 3.3% during the 2nd quarter. Pecaut & CO. now owns 41,300 shares of the utilities provider's stock valued at $559,000 after acquiring an additional 1,300 shares in the last quarter. WINTON GROUP Ltd boosted its position in Hawaiian Electric Industries by 2.0% during the 2nd quarter. WINTON GROUP Ltd now owns 83,880 shares of the utilities provider's stock worth $1,135,000 after acquiring an additional 1,619 shares during the period. Integrated Wealth Concepts LLC acquired a new position in Hawaiian Electric Industries during the 2nd quarter worth $87,000. Finally, Nykredit A S bought a new position in shares of Hawaiian Electric Industries in the second quarter worth $88,000. Institutional investors own 59.91% of the company's stock.

About Hawaiian Electric Industries

Hawaiian Electric Industries, Inc NYSE: HE is a Hawaii-based holding company whose principal business is the generation, transmission, distribution and sale of electricity through its operating utility subsidiaries. Hawaiian Electric serves customers on the islands of Oahu, Maui, Molokai, Lanai and Hawaii Island.

The company's electric utilities include Hawaiian Electric Company, Hawaii Electric Light and Maui Electric. Their operations include maintaining the state's electric grid, integrating renewable energy resources and supporting the transition toward cleaner power generation.

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