Shares of Hawaiian Electric Industries, Inc. (NYSE:HE) have received a consensus rating of “Sell” from the six ratings firms that are presently covering the stock, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a sell rating and two have issued a hold rating on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $31.50.

A number of research analysts have weighed in on HE shares. BidaskClub lowered Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a research note on Tuesday, June 27th. Zacks Investment Research downgraded Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a report on Friday, October 13th. J P Morgan Chase & Co upped their price objective on Hawaiian Electric Industries from $33.00 to $34.00 and gave the stock a “neutral” rating in a report on Thursday, October 12th. Finally, Bank of America Corporation started coverage on Hawaiian Electric Industries in a report on Tuesday. They set an “underperform” rating for the company.

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Hedge funds have recently added to or reduced their stakes in the company. FUKOKU MUTUAL LIFE INSURANCE Co acquired a new stake in shares of Hawaiian Electric Industries during the 2nd quarter worth $123,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Hawaiian Electric Industries by 8.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,859 shares of the utilities provider’s stock worth $125,000 after buying an additional 297 shares during the last quarter. Ffcm LLC increased its holdings in shares of Hawaiian Electric Industries by 121.0% during the 2nd quarter. Ffcm LLC now owns 4,826 shares of the utilities provider’s stock worth $157,000 after buying an additional 2,642 shares during the last quarter. TLP Group LLC increased its holdings in shares of Hawaiian Electric Industries by 818.4% during the 2nd quarter. TLP Group LLC now owns 5,391 shares of the utilities provider’s stock worth $175,000 after buying an additional 4,804 shares during the last quarter. Finally, CKW Financial Group increased its holdings in shares of Hawaiian Electric Industries by 41.5% during the 2nd quarter. CKW Financial Group now owns 6,136 shares of the utilities provider’s stock worth $199,000 after buying an additional 1,801 shares during the last quarter. Institutional investors and hedge funds own 48.83% of the company’s stock.

Shares of Hawaiian Electric Industries (NYSE:HE) opened at 35.73 on Tuesday. The firm has a market cap of $3.89 billion, a PE ratio of 15.91 and a beta of 0.47. Hawaiian Electric Industries has a 1-year low of $28.43 and a 1-year high of $35.78. The firm’s 50-day moving average price is $34.01 and its 200 day moving average price is $33.31.

Hawaiian Electric Industries (NYSE:HE) last issued its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.03). Hawaiian Electric Industries had a return on equity of 8.83% and a net margin of 9.91%. The business had revenue of $556.90 million for the quarter, compared to analysts’ expectations of $568.00 million. During the same period in the prior year, the company earned $0.43 EPS. The company’s revenue for the quarter was up 12.4% compared to the same quarter last year. On average, equities research analysts forecast that Hawaiian Electric Industries will post $1.63 EPS for the current fiscal year.

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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