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

StockNews.com upgraded shares of Hawaiian Electric Industries (NYSE:HE) from a sell rating to a hold rating in a report released on Saturday.

Several other equities research analysts have also recently issued reports on HE. Evercore ISI dropped their target price 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 cut their price objective on Hawaiian Electric Industries from $14.00 to $11.50 and set an “equal weight” rating for the company in a report on Monday, September 30th. Finally, Jefferies Financial Group lowered their target price on Hawaiian Electric Industries from $11.50 to $10.50 and set a “hold” rating on the stock in a report on Friday, January 3rd.

Hawaiian Electric Industries Stock Down 7.9 %

Hawaiian Electric Industries stock opened at $8.21 on Friday. The firm has a market cap of $1.42 billion, a price-to-earnings ratio of -0.69 and a beta of 0.53. 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 12 month low of $7.61 and a 12 month high of $18.19. The stock has a fifty day simple moving average of $10.06 and a two-hundred day simple moving average of $11.05.

Hawaiian Electric Industries (NYSE:HE) last issued its earnings results on Friday, November 8th. The utilities provider reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.07). The business 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 business’s revenue was up 9.0% compared to the same quarter last year. During the same period last year, the business posted $0.37 earnings per share. Equities analysts predict that Hawaiian Electric Industries will post 1.71 EPS for the current fiscal year.

Institutional Investors Weigh In On Hawaiian Electric Industries

Hedge funds have recently modified their holdings of the business. Zimmer Partners LP bought a new position in Hawaiian Electric Industries in the 3rd quarter worth $145,200,000. AQR Capital Management LLC increased its position 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 worth $60,308,000 after buying an additional 2,312,950 shares in the last quarter. FMR LLC raised its stake in shares of Hawaiian Electric Industries by 7,986.3% in the third quarter. FMR LLC now owns 5,340,679 shares of the utilities provider’s stock worth $51,698,000 after buying an additional 5,274,633 shares during the period. Geode Capital Management LLC lifted 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 valued at $36,725,000 after buying an additional 1,253,143 shares in the last quarter. Finally, State Street Corp grew its stake in shares of Hawaiian Electric Industries by 19.8% during the 3rd quarter. State Street Corp now owns 3,368,096 shares of the utilities provider’s stock valued at $32,603,000 after acquiring an additional 556,747 shares during the period. 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.