Hawaiian Electric Industries (NYSE:HE) Hits New 12-Month Low – Time to Sell?

Hawaiian Electric Industries, Inc. (NYSE:HE)’s share price hit a new 52-week low during trading on Monday. The stock traded as low as $8.15 and last traded at $8.1850, with a volume of 4,381,904 shares trading hands. The stock had previously closed at $8.41.

Analysts Set New Price Targets

HE has been the subject of a number of research analyst reports. Zacks Research upgraded Hawaiian Electric Industries from a “strong sell” rating to a “hold” rating in a report on Friday, October 9th. Barclays reduced their price objective 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. Weiss Ratings lowered shares of Hawaiian Electric Industries from a “sell (d+)” rating to a “sell (d)” rating in a research note on Wednesday, October 14th. 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, October 6th. Finally, LADENBURG THALM/SH SH initiated coverage on shares of Hawaiian Electric Industries in a research report on Tuesday, September 8th. They set a “sell” rating and a $7.00 price target for the company. Two analysts have rated the stock with a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, Hawaiian Electric Industries has a consensus rating of “Strong Sell” and an average target price of $7.67.

Hawaiian Electric Industries Trading Up 0.2%

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 cap of $1.44 billion, a PE ratio of 6.43 and a beta of 0.49. The company’s 50 day moving average price is $9.79 and its 200 day moving average price is $13.21.

Hawaiian Electric Industries (NYSE:HE) last released its earnings results on Friday, August 7th. The utilities provider reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.08). The business had revenue of $939.70 million for the quarter, compared to analyst estimates 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 company earned $0.15 earnings per share. As a group, analysts forecast that Hawaiian Electric Industries, Inc. will post 0.80 EPS for the current fiscal year.

Institutional Trading of Hawaiian Electric Industries

A number of large investors have recently made changes to their positions in the company. Elevation Wealth Partners LLC grew its holdings in Hawaiian Electric Industries by 961.8% during the 3rd quarter. Elevation Wealth Partners LLC now owns 3,695 shares of the utilities provider’s stock worth $33,000 after acquiring an additional 3,347 shares in the last quarter. V Square Quantitative Management LLC acquired a new stake in shares of Hawaiian Electric Industries in the 3rd quarter valued at $54,000. Allworth Financial LP acquired a new stake in shares of Hawaiian Electric Industries in the 2nd quarter valued at $63,000. Global Retirement Partners LLC acquired a new stake in shares of Hawaiian Electric Industries in the 2nd quarter valued at $67,000. Finally, Kelleher Financial Advisors purchased a new stake in shares of Hawaiian Electric Industries during the 2nd quarter worth $68,000. 59.91% of the stock is currently owned by hedge funds and other institutional investors.

About Hawaiian Electric Industries

Hawaiian Electric Industries, Inc (NYSE: HE) is a Hawaii-based holding company whose principal business is providing electric utility service across the state. Through its regulated utility subsidiaries—Hawaiian Electric Company, Maui Electric Company and Hawaii Electric Light—the company generates, purchases, transmits, distributes and sells electricity to residential, commercial and industrial customers on the islands of Oahu, Maui, Molokai, Lanai and Hawaii.

The utility uses a combination of renewable and conventional energy resources and supports Hawaii’s transition toward a cleaner electric system.