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 research note released on Thursday.

Several other analysts have also recently commented on HE. Wells Fargo & Company dropped their target price on shares of 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. Jefferies Financial Group began coverage on Hawaiian Electric Industries in a research note on Tuesday, December 3rd. They issued a “hold” rating and a $11.50 target price on the stock. Finally, Evercore ISI decreased their target price on 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 Price Performance

Shares of HE stock opened at $9.94 on Thursday. 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 12 month low of $7.61 and a 12 month high of $18.19. The firm has a market cap of $1.71 billion, a price-to-earnings ratio of -0.84 and a beta of 0.53. The stock has a 50-day moving average price of $10.21 and a 200 day moving average price of $11.07.

Hawaiian Electric Industries (NYSE:HE) last issued its quarterly earnings results on Friday, November 8th. The utilities provider reported $0.46 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.07). The business had revenue of $983.38 million for the quarter. Hawaiian Electric Industries had a positive return on equity of 11.12% and a negative net margin of 35.38%. Hawaiian Electric Industries’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same period last year, the company posted $0.37 EPS. Research analysts expect that Hawaiian Electric Industries will post 1.71 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. FORA Capital LLC bought a new position in Hawaiian Electric Industries in the third quarter valued at approximately $692,000. Virtu Financial LLC bought a new stake in Hawaiian Electric Industries in the 3rd quarter valued at $821,000. Franklin Resources Inc. boosted its stake in Hawaiian Electric Industries by 656.7% in the 3rd quarter. Franklin Resources Inc. now owns 2,722,668 shares of the utilities provider’s stock worth $27,499,000 after purchasing an additional 2,362,863 shares during the period. Seven Grand Managers LLC bought a new position in Hawaiian Electric Industries during the 3rd quarter worth about $4,888,000. Finally, Bank of New York Mellon Corp increased its holdings in Hawaiian Electric Industries by 23.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 638,156 shares of the utilities provider’s stock worth $5,756,000 after purchasing an additional 120,208 shares in the last quarter. 59.91% of the stock is 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.