Hawaiian Electric Industries (NYSE:HE) Raised to Hold at 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 report issued to clients and investors on Thursday.

A number of other analysts have also recently commented on the stock. Jefferies Financial Group began coverage on shares of Hawaiian Electric Industries in a research note on Tuesday, December 3rd. They set a “hold” rating and a $11.50 target price for the company. Evercore ISI decreased 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. Finally, Wells Fargo & Company dropped their price target on Hawaiian Electric Industries from $14.00 to $11.50 and set an “equal weight” rating for the company in a research report on Monday, September 30th.

Hawaiian Electric Industries Stock Performance

NYSE HE opened at $9.86 on Thursday. The stock has a market capitalization of $1.70 billion, a price-to-earnings ratio of -0.83 and a beta of 0.53. The stock has a 50-day moving average of $10.23 and a 200 day moving average of $11.08. The company has a current ratio of 0.18, a quick ratio of 0.18 and a debt-to-equity ratio of 1.80. Hawaiian Electric Industries has a twelve month low of $7.61 and a twelve month high of $18.19.

Hawaiian Electric Industries (NYSE:HE) last announced its earnings results on Friday, November 8th. The utilities provider reported $0.46 earnings per share for the quarter, missing the consensus estimate 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 for the quarter. During the same period last year, the firm posted $0.37 earnings per share. Hawaiian Electric Industries’s revenue for the quarter was up 9.0% on a year-over-year basis. Sell-side analysts anticipate that Hawaiian Electric Industries will post 1.71 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. KBC Group NV grew its holdings in shares of Hawaiian Electric Industries by 34.8% in the third quarter. KBC Group NV now owns 3,956 shares of the utilities provider’s stock valued at $38,000 after purchasing an additional 1,021 shares during the period. UMB Bank n.a. acquired a new stake in shares of Hawaiian Electric Industries during the 3rd quarter worth approximately $42,000. Quarry LP raised its position in shares of Hawaiian Electric Industries by 156.6% during the 3rd quarter. Quarry LP now owns 4,503 shares of the utilities provider’s stock valued at $44,000 after buying an additional 2,748 shares during the period. Millburn Ridgefield Corp acquired a new position in Hawaiian Electric Industries in the third quarter valued at approximately $55,000. Finally, Quest Partners LLC increased its stake in Hawaiian Electric Industries by 126.1% during the third quarter. Quest Partners LLC now owns 7,983 shares of the utilities provider’s stock worth $77,000 after acquiring an additional 4,453 shares during the last quarter. 59.91% of the stock is currently owned by institutional investors and hedge funds.

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.