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

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

Other research analysts have also recently issued reports about the stock. Evercore ISI cut their price target on shares of Hawaiian Electric Industries from $11.00 to $10.00 and set an “in-line” rating on the stock in a report on Tuesday, November 19th. Wells Fargo & Company dropped 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. Finally, Jefferies Financial Group began coverage on Hawaiian Electric Industries in a report on Tuesday, December 3rd. They issued a “hold” rating and a $11.50 target price for the company.

Hawaiian Electric Industries Stock Down 0.4 %

NYSE HE opened at $9.86 on Thursday. 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 52 week low of $7.61 and a 52 week high of $18.19. The firm has a market capitalization of $1.70 billion, a price-to-earnings ratio of -0.83 and a beta of 0.53. The company has a fifty day moving average of $10.23 and a two-hundred day moving average of $11.08.

Hawaiian Electric Industries (NYSE:HE) last released 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). The firm had revenue of $983.38 million for the quarter. Hawaiian Electric Industries had a positive return on equity of 11.12% and a negative net margin of 35.38%. The company’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.37 earnings per share. On average, analysts predict that Hawaiian Electric Industries will post 1.71 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. FORA Capital LLC purchased a new position in shares of Hawaiian Electric Industries during the third quarter worth $692,000. Virtu Financial LLC purchased a new stake in shares of Hawaiian Electric Industries in the third quarter worth about $821,000. Franklin Resources Inc. grew its holdings 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 acquiring an additional 2,362,863 shares during the period. Seven Grand Managers LLC purchased a new position in Hawaiian Electric Industries during the third quarter valued at approximately $4,888,000. Finally, Bank of New York Mellon Corp lifted its holdings in Hawaiian Electric Industries by 23.2% in the second quarter. Bank of New York Mellon Corp now owns 638,156 shares of the utilities provider’s stock valued at $5,756,000 after acquiring an additional 120,208 shares during the period. 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.