Hawaiian Electric Industries (NYSE:HE) Upgraded by StockNews.com to Hold

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

Separately, Wells Fargo & Company upped their price target on Hawaiian Electric Industries from $8.50 to $9.00 and gave the company an “underweight” rating in a research note on Monday, May 13th. Two equities research analysts have rated the stock with a sell rating and two have issued a hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $11.63.

Hawaiian Electric Industries Trading Down 9.3 %

Shares of HE opened at $8.19 on Tuesday. Hawaiian Electric Industries has a 12-month low of $8.04 and a 12-month high of $40.16. The firm has a market capitalization of $902.81 million, a P/E ratio of 4.84 and a beta of 0.58. The firm has a 50-day moving average price of $10.23 and a 200 day moving average price of $11.72. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 1.19.

Hawaiian Electric Industries (NYSE:HE) last posted its quarterly earnings results on Friday, May 10th. The utilities provider reported $0.45 earnings per share for the quarter. The business had revenue of $897.16 million during the quarter. Hawaiian Electric Industries had a net margin of 5.16% and a return on equity of 9.58%.

Hedge Funds Weigh In On Hawaiian Electric Industries

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Hawaiian Electric Industries by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 11,059,244 shares of the utilities provider’s stock worth $124,638,000 after buying an additional 160,815 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Hawaiian Electric Industries by 21.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,621,304 shares of the utilities provider’s stock worth $23,006,000 after acquiring an additional 285,955 shares in the last quarter. Assenagon Asset Management S.A. raised its position in Hawaiian Electric Industries by 10.1% in the first quarter. Assenagon Asset Management S.A. now owns 1,475,102 shares of the utilities provider’s stock worth $16,624,000 after acquiring an additional 135,102 shares in the last quarter. Verition Fund Management LLC acquired a new stake in Hawaiian Electric Industries in the fourth quarter valued at $8,944,000. Finally, BNP Paribas Financial Markets boosted its position in shares of Hawaiian Electric Industries by 2,854.9% during the 4th quarter. BNP Paribas Financial Markets now owns 580,931 shares of the utilities provider’s stock worth $8,243,000 after purchasing an additional 561,271 shares in the last quarter. 59.91% of the stock is currently owned by hedge funds and other institutional investors.

About Hawaiian Electric Industries

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.