Hawaiian Electric Industries (NYSE:HE) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday.

According to Zacks, “Hawaiian Electric depends heavily on third-party suppliers for fuel and purchased power. Any delay in the supply of fuels may impact the company’s performance adversely and result in additional expenses. Moreover, any disruption in fuel supplies is likely to affect Hawaiian Electric’s ability to generate power, which in turn might impact its profit margins. Further, elevating fuel oil price expense has earlier pushed up the company’s total expenses and in turn affected its operating profit rate. Nevertheless, Hawaiian Electric remains the largest provider of electricity in the state of Hawaii, supplying power to more than 95% of the state’s population.”

Several other equities analysts have also commented on the company. Bank of America assumed coverage on Hawaiian Electric Industries in a research report on Tuesday, October 24th. They set an “underperform” rating and a $34.00 price objective for the company. JPMorgan Chase & Co. raised their price objective on Hawaiian Electric Industries from $33.00 to $34.00 and gave the company a “neutral” rating in a research report on Thursday, October 12th. Four research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company’s stock. The stock currently has a consensus rating of “Sell” and an average target price of $32.33.

Shares of Hawaiian Electric Industries (HE) traded down $0.28 during trading on Tuesday, reaching $35.29. The company’s stock had a trading volume of 436,800 shares, compared to its average volume of 468,300. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.83 and a quick ratio of 0.83. The stock has a market capitalization of $3,869.52, a price-to-earnings ratio of 21.65, a P/E/G ratio of 4.66 and a beta of 0.50. Hawaiian Electric Industries has a fifty-two week low of $31.71 and a fifty-two week high of $38.72.

Hawaiian Electric Industries (NYSE:HE) last announced its quarterly earnings data on Thursday, November 2nd. The utilities provider reported $0.55 EPS for the quarter, missing the consensus estimate of $0.57 by ($0.02). The firm had revenue of $673.19 million for the quarter, compared to analysts’ expectations of $648.93 million. Hawaiian Electric Industries had a net margin of 7.14% and a return on equity of 8.64%. The business’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.58 EPS. equities analysts expect that Hawaiian Electric Industries will post 1.64 EPS for the current year.

In other news, Director Thomas B. Fargo sold 5,500 shares of the firm’s stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $36.46, for a total transaction of $200,530.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.90% of the stock is owned by company insiders.

Several large investors have recently modified their holdings of the company. Raymond James Financial Services Advisors Inc. increased its holdings in shares of Hawaiian Electric Industries by 0.7% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 10,146 shares of the utilities provider’s stock valued at $329,000 after acquiring an additional 70 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its holdings in shares of Hawaiian Electric Industries by 0.8% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 28,710 shares of the utilities provider’s stock valued at $930,000 after acquiring an additional 217 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Hawaiian Electric Industries by 8.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,859 shares of the utilities provider’s stock valued at $125,000 after acquiring an additional 297 shares in the last quarter. Utah Retirement Systems increased its holdings in shares of Hawaiian Electric Industries by 1.5% during the second quarter. Utah Retirement Systems now owns 19,776 shares of the utilities provider’s stock valued at $640,000 after acquiring an additional 300 shares in the last quarter. Finally, Ameritas Investment Partners Inc. increased its holdings in shares of Hawaiian Electric Industries by 1.5% during the second quarter. Ameritas Investment Partners Inc. now owns 32,544 shares of the utilities provider’s stock valued at $1,054,000 after acquiring an additional 488 shares in the last quarter. Hedge funds and other institutional investors own 49.23% of the company’s stock.

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About Hawaiian Electric Industries

Hawaiian Electric Industries, Inc is a holding company with its principal subsidiaries engaged in electric utility and banking businesses operating primarily in the State of Hawaii. The Company’s subsidiaries include Hawaiian Electric Company, Inc (Hawaiian Electric) and ASB Hawaii, Inc (ASB Hawaii).

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