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

StockNews.com upgraded shares of Hawaiian Electric Industries (NYSE:HE) from a sell rating to a hold rating in a research note issued to investors on Tuesday morning.

Several other equities analysts have also recently weighed in on HE. Jefferies Financial Group began coverage on Hawaiian Electric Industries in a report on Tuesday, December 3rd. They set a “hold” rating and a $11.50 price objective on the stock. Evercore ISI cut their price objective on shares of 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. Finally, Wells Fargo & Company dropped their price target 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.

Hawaiian Electric Industries Stock Down 0.3 %

NYSE HE opened at $10.18 on Tuesday. The stock has a fifty day moving average of $10.23 and a 200-day moving average of $11.11. The stock has a market capitalization of $1.76 billion, a P/E ratio of -0.86 and a beta of 0.53. Hawaiian Electric Industries has a 52 week low of $7.61 and a 52 week high of $18.19. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.18 and a current ratio of 0.18.

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

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in HE. Franklin Resources Inc. grew its stake in Hawaiian Electric Industries by 656.7% during the third quarter. Franklin Resources Inc. now owns 2,722,668 shares of the utilities provider’s stock worth $27,499,000 after buying an additional 2,362,863 shares in the last quarter. Peapack Gladstone Financial Corp bought a new position in shares of Hawaiian Electric Industries in the 3rd quarter valued at $184,000. Sanctuary Advisors LLC acquired a new position in shares of Hawaiian Electric Industries in the third quarter valued at approximately $112,000. Virtu Financial LLC acquired a new position in shares of Hawaiian Electric Industries during the third quarter worth $821,000. Finally, Geode Capital Management LLC raised its position in Hawaiian Electric Industries by 49.3% during the 3rd quarter. Geode Capital Management LLC now owns 3,793,142 shares of the utilities provider’s stock worth $36,725,000 after purchasing an additional 1,253,143 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.