Hawaiian Electric Industries (NYSE:HE) Upgraded at StockNews.com

StockNews.com upgraded shares of Hawaiian Electric Industries (NYSE:HE) from a sell rating to a hold rating in a research note published on Tuesday.

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

Hawaiian Electric Industries Stock Performance

Shares of NYSE HE opened at $9.70 on Tuesday. 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 company has a market cap of $1.67 billion, a PE ratio of -0.82 and a beta of 0.53. The firm’s 50-day moving average price is $10.24 and its 200-day moving average price is $11.09.

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

Hedge Funds Weigh In On Hawaiian Electric Industries

Institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC bought a new position in shares of Hawaiian Electric Industries during the second quarter valued at approximately $172,000. Pallas Capital Advisors LLC bought a new stake in Hawaiian Electric Industries during the 2nd quarter valued at about $127,000. Bank of New York Mellon Corp boosted its position in Hawaiian Electric Industries by 23.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 638,156 shares of the utilities provider’s stock valued at $5,756,000 after buying an additional 120,208 shares during the period. Panagora Asset Management Inc. grew its stake in Hawaiian Electric Industries by 716.5% in the 2nd quarter. Panagora Asset Management Inc. now owns 187,690 shares of the utilities provider’s stock worth $1,693,000 after acquiring an additional 164,702 shares in the last quarter. Finally, Principal Financial Group Inc. purchased a new position in shares of Hawaiian Electric Industries during the second quarter worth approximately $98,000. 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.