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

Hawaiian Electric Industries, Inc. (NYSE:HE)’s stock price reached 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. The stock had previously closed at $10.36.

Analyst Upgrades and Downgrades

HE has been the subject of a number of research analyst reports. Zacks Research downgraded shares of Hawaiian Electric Industries from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 11th. Jefferies Financial Group lowered their price objective on shares of Hawaiian Electric Industries from $13.75 to $11.75 and set an “underperform” rating on the stock in a research note on Monday, July 6th. 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 target price on the stock. Weiss Ratings raised shares of Hawaiian Electric Industries from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, August 11th. Finally, Barclays decreased 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. Two research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Hawaiian Electric Industries currently has an average rating of “Strong Sell” and a consensus target price of $10.25.

Hawaiian Electric Industries Stock Performance

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

Hawaiian Electric Industries (NYSE:HE) last issued its quarterly earnings results on Friday, August 7th. The utilities provider reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates 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 analysts’ expectations of $939.70 million. During the same period in the prior year, the business posted $0.15 EPS. Research analysts anticipate that Hawaiian Electric Industries, Inc. will post 0.8 earnings per share for the current fiscal year.

Hedge Funds 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. BlackRock Inc. acquired a new stake in Hawaiian Electric Industries during the 2nd quarter valued at $358,318,000. California State Teachers Retirement System lifted its holdings in shares of Hawaiian Electric Industries by 1,216.4% in the second quarter. California State Teachers Retirement System now owns 2,699,952 shares of the utilities provider’s stock valued at $36,530,000 after purchasing an additional 2,494,858 shares in the last quarter. Bank of America Corp DE purchased a new stake in shares of Hawaiian Electric Industries in the second quarter valued at $32,135,000. 12 West Capital Management LP acquired a new stake in shares of Hawaiian Electric Industries in the fourth quarter worth $22,755,000. Finally, Horizon Kinetics Asset Management LLC boosted its position in shares of Hawaiian Electric Industries by 6.2% in the fourth quarter. Horizon Kinetics Asset Management LLC now owns 19,392,363 shares of the utilities provider’s stock worth $238,526,000 after buying an additional 1,134,646 shares during the period. Institutional investors and hedge funds 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.