Hawaiian Electric Industries (NYSE:HE) Rating Increased to Hold at StockNews.com

Hawaiian Electric Industries (NYSE:HE) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday.

A number of other analysts also recently issued reports on HE. Wells Fargo & Company reduced their price objective on Hawaiian Electric Industries from $14.00 to $11.50 and set an “equal weight” rating on the stock in a research note on Monday, September 30th. Jefferies Financial Group initiated coverage on Hawaiian Electric Industries in a research note on Tuesday, December 3rd. They issued a “hold” rating and a $11.50 price objective on the stock. Finally, Evercore ISI cut their target price on Hawaiian Electric Industries from $11.00 to $10.00 and set an “in-line” rating on the stock in a research report on Tuesday, November 19th.

Hawaiian Electric Industries Price Performance

NYSE HE traded down $0.03 during trading hours on Tuesday, reaching $10.18. The company’s stock had a trading volume of 2,846,597 shares, compared to its average volume of 3,337,587. The firm’s 50-day moving average price is $10.23 and its 200-day moving average price is $11.11. The company has a quick ratio of 0.18, a current ratio of 0.18 and a debt-to-equity ratio of 1.80. Hawaiian Electric Industries has a 1 year low of $7.61 and a 1 year high of $18.19. The company has a market capitalization of $1.76 billion, a price-to-earnings ratio of -0.86 and a beta of 0.53.

Hawaiian Electric Industries (NYSE:HE) last posted its quarterly earnings results on Friday, November 8th. The utilities provider reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.07). Hawaiian Electric Industries had a positive return on equity of 11.12% and a negative net margin of 35.38%. The business had revenue of $983.38 million during the quarter. During the same quarter in the previous year, the company posted $0.37 earnings per share. The company’s quarterly revenue was up 9.0% compared to the same quarter last year. On average, equities research analysts predict that Hawaiian Electric Industries will post 1.71 EPS for the current fiscal year.

Hedge Funds Weigh In On Hawaiian Electric Industries

Large investors have recently modified their holdings of the stock. Zimmer Partners LP bought a new position in Hawaiian Electric Industries in the 3rd quarter valued at $145,200,000. AQR Capital Management LLC grew its position in Hawaiian Electric Industries by 52.8% in the 2nd quarter. AQR Capital Management LLC now owns 6,693,424 shares of the utilities provider’s stock valued at $60,308,000 after acquiring an additional 2,312,950 shares during the last quarter. FMR LLC grew its position in Hawaiian Electric Industries by 7,986.3% in the 3rd quarter. FMR LLC now owns 5,340,679 shares of the utilities provider’s stock valued at $51,698,000 after acquiring an additional 5,274,633 shares during the last quarter. Geode Capital Management LLC grew its position in Hawaiian Electric Industries by 49.3% in the 3rd quarter. Geode Capital Management LLC now owns 3,793,142 shares of the utilities provider’s stock valued at $36,725,000 after acquiring an additional 1,253,143 shares during the last quarter. Finally, State Street Corp grew its position in Hawaiian Electric Industries by 19.8% in the 3rd quarter. State Street Corp now owns 3,368,096 shares of the utilities provider’s stock valued at $32,603,000 after acquiring an additional 556,747 shares during the last quarter. Institutional investors own 59.91% of the company’s stock.

Hawaiian Electric Industries Company Profile

Hawaiian Electric Industries, Inc, together with its subsidiaries, engages in the electric utility businesses in the United States. It operates in three segments: Electric Utility, Bank, and Other. The Electric Utility segment engages in the production, purchase, transmission, distribution, and sale of electricity in the islands of Oahu, Hawaii, Maui, Lanai, and Molokai.