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

Hawaiian Electric Industries, Inc. (NYSE:HE)’s stock price reached a new 52-week low on Monday . The company traded as low as $9.79 and last traded at $9.97, with a volume of 7143325 shares. The stock had previously closed at $9.80.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. 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 target on the stock. Barclays reduced their target price on shares of Hawaiian Electric Industries from $13.00 to $12.00 and set an “equal weight” rating for the company in a research report on Tuesday, August 11th. Zacks Research lowered Hawaiian Electric Industries from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 11th. Weiss Ratings upgraded shares of Hawaiian Electric Industries from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, August 11th. Finally, Jefferies Financial Group raised Hawaiian Electric Industries to a “moderate sell” rating in a research note on Thursday. Two equities 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, the company currently has an average rating of “Strong Sell” and an average price target of $9.25.

Hawaiian Electric Industries Stock Performance

The company has a market capitalization of $1.70 billion, a price-to-earnings ratio of 7.57 and a beta of 0.48. 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 50-day simple moving average of $11.94 and a two-hundred day simple moving average of $13.47.

Hawaiian Electric Industries (NYSE:HE) last posted its quarterly earnings data on Friday, August 7th. The utilities provider reported $0.13 EPS for the quarter, missing the consensus estimate of $0.21 by ($0.08). The business had revenue of $939.70 million during the quarter, compared to analysts’ expectations 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 in the previous year, the business posted $0.15 EPS. On average, sell-side analysts anticipate that Hawaiian Electric Industries, Inc. will post 0.8 EPS for the current fiscal year.

Institutional Investors Weigh In On Hawaiian Electric Industries

Large investors have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC grew its position in shares of Hawaiian Electric Industries by 37.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 2,682 shares of the utilities provider’s stock worth $33,000 after buying an additional 737 shares in the last quarter. Allworth Financial LP acquired a new position in Hawaiian Electric Industries during the 2nd quarter worth approximately $63,000. Global Retirement Partners LLC acquired a new stake in shares of Hawaiian Electric Industries in the 2nd quarter valued at $67,000. Kelleher Financial Advisors acquired a new position in shares of Hawaiian Electric Industries during the second quarter worth $68,000. Finally, Integrated Wealth Concepts LLC acquired a new stake in Hawaiian Electric Industries in the second quarter valued at $87,000. Hedge funds and other institutional investors 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.