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

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

Separately, Wells Fargo & Company upped their price objective on shares of Hawaiian Electric Industries from $8.50 to $9.00 and gave the stock an “underweight” rating in a research report on Monday, May 13th. Two analysts have rated the stock with a sell rating and two have given a hold rating to the stock. Based on data from MarketBeat, Hawaiian Electric Industries has an average rating of “Hold” and an average target price of $11.63.

Hawaiian Electric Industries Trading Down 9.3 %

NYSE:HE opened at $8.19 on Tuesday. Hawaiian Electric Industries has a one year low of $8.04 and a one year high of $40.16. The company has a market cap of $902.81 million, a PE ratio of 4.84 and a beta of 0.58. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.11 and a quick ratio of 0.11. The firm has a 50-day moving average of $10.23 and a 200-day moving average of $11.72.

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

Hedge Funds Weigh In On Hawaiian Electric Industries

Several institutional investors and hedge funds have recently bought and sold shares of the company. Treasurer of the State of North Carolina raised its position in shares of Hawaiian Electric Industries by 0.6% in the fourth quarter. Treasurer of the State of North Carolina now owns 159,290 shares of the utilities provider’s stock valued at $2,260,000 after purchasing an additional 984 shares during the period. Abich Financial Wealth Management LLC raised its holdings in Hawaiian Electric Industries by 54.4% during the 1st quarter. Abich Financial Wealth Management LLC now owns 3,226 shares of the utilities provider’s stock valued at $36,000 after acquiring an additional 1,137 shares during the period. Victory Capital Management Inc. lifted its position in shares of Hawaiian Electric Industries by 4.4% during the fourth quarter. Victory Capital Management Inc. now owns 40,311 shares of the utilities provider’s stock worth $572,000 after acquiring an additional 1,700 shares in the last quarter. CANADA LIFE ASSURANCE Co boosted its holdings in shares of Hawaiian Electric Industries by 17.0% in the first quarter. CANADA LIFE ASSURANCE Co now owns 12,172 shares of the utilities provider’s stock worth $137,000 after acquiring an additional 1,766 shares during the period. Finally, Nisa Investment Advisors LLC grew its position in shares of Hawaiian Electric Industries by 13.7% in the fourth quarter. Nisa Investment Advisors LLC now owns 15,100 shares of the utilities provider’s stock valued at $214,000 after purchasing an additional 1,820 shares in the last quarter. 59.91% of the stock is owned by 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.