StockNews.com Upgrades Hawaiian Electric Industries (NYSE:HE) to “Hold”

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

A number of other equities research analysts have also commented on HE. Jefferies Financial Group began coverage on Hawaiian Electric Industries in a research report on Tuesday, December 3rd. They set a “hold” rating and a $11.50 price target on the stock. Wells Fargo & Company cut their price target on shares of 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, Evercore ISI lowered their price objective on shares of Hawaiian Electric Industries from $11.00 to $10.00 and set an “in-line” rating for the company in a research report on Tuesday, November 19th.

Hawaiian Electric Industries Stock Down 5.5 %

Shares of NYSE HE opened at $9.62 on Tuesday. 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. The stock has a market cap of $1.66 billion, a P/E ratio of -0.81 and a beta of 0.53. The firm has a 50 day moving average price of $10.24 and a 200 day moving average price of $11.10.

Hawaiian Electric Industries (NYSE:HE) last announced 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 firm had revenue of $983.38 million during the quarter. Hawaiian Electric Industries had a negative net margin of 35.38% and a positive return on equity of 11.12%. The firm’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same period last year, the business earned $0.37 earnings per share. Analysts expect that Hawaiian Electric Industries will post 1.71 EPS for the current year.

Institutional Investors Weigh In On Hawaiian Electric Industries

Several institutional investors have recently bought and sold shares of HE. Zimmer Partners LP acquired a new position in shares of Hawaiian Electric Industries during the 3rd quarter worth about $145,200,000. FMR LLC raised its holdings in Hawaiian Electric Industries by 7,986.3% during the third quarter. FMR LLC now owns 5,340,679 shares of the utilities provider’s stock worth $51,698,000 after acquiring an additional 5,274,633 shares in the last quarter. Franklin Resources Inc. boosted its position 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 valued at $27,499,000 after purchasing an additional 2,362,863 shares during the last quarter. AQR Capital Management LLC grew its stake in Hawaiian Electric Industries by 52.8% in the second quarter. AQR Capital Management LLC now owns 6,693,424 shares of the utilities provider’s stock valued at $60,308,000 after purchasing an additional 2,312,950 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of 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.

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.