Hawaiian Electric Industries (NYSE:HE) Reaches New 12-Month Low – Here’s Why

Hawaiian Electric Industries, Inc. (NYSE:HE)’s share price hit a new 52-week low on Tuesday . The company traded as low as $10.20 and last traded at $10.2680, with a volume of 77609 shares traded. The stock had previously closed at $10.36.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on HE. Jefferies Financial Group set a $8.75 price objective on Hawaiian Electric Industries in a research note on Wednesday. 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. Barclays reduced their price target on shares of Hawaiian Electric Industries from $13.00 to $12.00 and set an “equal weight” rating for the company in a report on Tuesday, August 11th. LADENBURG THALM/SH SH started coverage on shares of Hawaiian Electric Industries in a research note on Tuesday, September 8th. They issued a “sell” rating and a $7.00 price target for the company. Finally, Zacks Research cut shares of Hawaiian Electric Industries from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 11th. Two investment analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Strong Sell” and a consensus price target of $9.25.

Hawaiian Electric Industries Trading Up 0.2%

The firm’s 50-day moving average is $12.08 and its 200-day moving average is $13.55. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 1.57. The firm has a market cap of $1.77 billion, a price-to-earnings ratio of 7.87 and a beta of 0.48.

Hawaiian Electric Industries (NYSE:HE) last released its quarterly earnings data 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 business had revenue of $939.70 million for the quarter, compared to analyst estimates of $939.70 million. During the same quarter in the previous year, the company posted $0.15 EPS. As a group, sell-side analysts anticipate that Hawaiian Electric Industries, Inc. will post 0.8 EPS for the current fiscal year.

Hedge Funds Weigh In On Hawaiian Electric Industries

A number of hedge funds have recently added to or reduced their stakes in HE. EverSource Wealth Advisors LLC grew its position in Hawaiian Electric Industries by 37.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 2,682 shares of the utilities provider’s stock worth $33,000 after acquiring an additional 737 shares in the last quarter. Bleakley Financial Group LLC raised its position 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 valued at $845,000 after purchasing an additional 985 shares in the last quarter. Truist Financial Corp lifted its stake in Hawaiian Electric Industries by 6.3% during the fourth quarter. Truist Financial Corp now owns 16,929 shares of the utilities provider’s stock worth $208,000 after purchasing an additional 1,004 shares during the last quarter. Pecaut & CO. lifted 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 purchasing an additional 1,300 shares during the last quarter. Finally, Baker Avenue Asset Management LP boosted its holdings in shares of Hawaiian Electric Industries by 8.2% in the 4th quarter. Baker Avenue Asset Management LP now owns 18,816 shares of the utilities provider’s stock worth $231,000 after purchasing an additional 1,433 shares in the last quarter. 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.