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

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

Other equities research analysts also recently issued reports about the company. Evercore ISI cut their price target 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. Jefferies Financial Group dropped 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. Finally, Wells Fargo & Company reduced 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

Shares of HE stock opened at $8.21 on Friday. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.18 and a quick ratio of 0.18. The business has a fifty day moving average of $10.06 and a 200 day moving average of $11.06. The firm has a market capitalization of $1.42 billion, a price-to-earnings ratio of -0.69 and a beta of 0.53. Hawaiian Electric Industries has a 1 year low of $7.61 and a 1 year high of $18.19.

Hawaiian Electric Industries (NYSE:HE) last released its earnings results on Friday, November 8th. The utilities provider reported $0.46 EPS for the quarter, missing analysts’ consensus estimates 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 for the quarter. During the same period last year, the business earned $0.37 earnings per share. The firm’s revenue for the quarter was up 9.0% on a year-over-year basis. As a group, research analysts expect that Hawaiian Electric Industries will post 1.71 earnings per share for the current year.

Hedge Funds Weigh In On Hawaiian Electric Industries

A number of hedge funds have recently bought and sold shares of HE. KBC Group NV increased its position 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 buying an additional 1,021 shares in the last quarter. UMB Bank n.a. purchased a new stake in Hawaiian Electric Industries in the 3rd quarter worth $42,000. Quarry LP raised its position in Hawaiian Electric Industries by 156.6% during the third quarter. Quarry LP now owns 4,503 shares of the utilities provider’s stock worth $44,000 after acquiring an additional 2,748 shares during the period. Millburn Ridgefield Corp purchased a new position in Hawaiian Electric Industries during the third quarter valued at $55,000. Finally, Quest Partners LLC grew its position in shares of Hawaiian Electric Industries by 126.1% in the third quarter. Quest Partners LLC now owns 7,983 shares of the utilities provider’s stock valued at $77,000 after purchasing an additional 4,453 shares during the period. Hedge funds and other 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.