Hawaiian Electric Industries (NYSE:HE) Hits New 52-Week Low – What’s Next?

Hawaiian Electric Industries, Inc. (NYSE:HE)’s share price reached a new 52-week low during mid-day trading on Wednesday. The company traded as low as $8.34 and last traded at $8.3550, with a volume of 171,651 shares. The stock had previously closed at $8.53.

Wall Street Analysts Forecast Growth

Several brokerages have commented on HE. Barclays decreased their price target on shares of Hawaiian Electric Industries from $12.00 to $9.00 and set an “equal weight” rating for the company in a research report on Wednesday, September 30th. LADENBURG THALM/SH SH began coverage on Hawaiian Electric Industries in a research report on Tuesday, September 8th. They set a “sell” rating and a $7.00 price objective on the stock. Zacks Research raised Hawaiian Electric Industries from a “strong sell” rating to a “hold” rating in a research report on Friday, October 9th. Weiss Ratings cut Hawaiian Electric Industries from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, September 25th. Finally, Jefferies Financial Group decreased their target price on Hawaiian Electric Industries from $8.75 to $7.00 and set an “underperform” rating for the company in a report on Tuesday, October 6th. Two equities research analysts have rated the stock with a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Strong Sell” and a consensus target price of $7.67.

Hawaiian Electric Industries Stock Performance

The firm has a market capitalization of $1.43 billion, a price-to-earnings ratio of 6.37 and a beta of 0.49. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.57. The stock has a 50-day moving average price of $10.48 and a 200 day moving average price of $12.76.

Hawaiian Electric Industries (NYSE:HE) 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). The firm had revenue of $939.70 million during the quarter, compared to analyst estimates of $939.70 million. Hawaiian Electric Industries had a net margin of 6.89% and a return on equity of 7.90%. During the same period last year, the business earned $0.15 EPS. On average, analysts forecast that Hawaiian Electric Industries, Inc. will post 0.80 EPS for the current year.

Institutional Investors Weigh In On Hawaiian Electric Industries

A number of large investors have recently modified their holdings of HE. Bleakley Financial Group LLC lifted its stake in Hawaiian Electric Industries by 1.8% during the first quarter. Bleakley Financial Group LLC now owns 56,974 shares of the utilities provider’s stock worth $845,000 after purchasing an additional 985 shares during the period. Pecaut & CO. raised its stake in Hawaiian Electric Industries by 3.3% during the second quarter. Pecaut & CO. now owns 41,300 shares of the utilities provider’s stock worth $559,000 after acquiring an additional 1,300 shares in the last quarter. RFG Bristol Wealth Advisors LLC lifted its holdings in shares of Hawaiian Electric Industries by 4.0% during the first quarter. RFG Bristol Wealth Advisors LLC now owns 39,624 shares of the utilities provider’s stock valued at $588,000 after acquiring an additional 1,514 shares during the period. WINTON GROUP Ltd lifted its holdings in shares of Hawaiian Electric Industries by 2.0% during the second quarter. WINTON GROUP Ltd now owns 83,880 shares of the utilities provider’s stock valued at $1,135,000 after acquiring an additional 1,619 shares during the period. Finally, Chicago Partners Investment Group LLC boosted its stake in shares of Hawaiian Electric Industries by 8.4% in the 1st quarter. Chicago Partners Investment Group LLC now owns 40,239 shares of the utilities provider’s stock valued at $610,000 after purchasing an additional 3,128 shares in the last quarter. 59.91% of the stock is 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 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.