Hawaiian Electric Industries (NYSE:HE) Stock Rating Upgraded by StockNews.com

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

HE has been the subject of several other research reports. Barclays lifted their price target on Hawaiian Electric Industries from $10.00 to $11.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 4th. Evercore ISI raised Hawaiian Electric Industries from an “in-line” rating to an “outperform” rating and lifted their price target for the stock from $12.00 to $14.00 in a research report on Friday, March 7th. Finally, Wells Fargo & Company lifted their price target on Hawaiian Electric Industries from $11.00 to $12.50 and gave the stock an “equal weight” rating in a research report on Thursday, February 27th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, Hawaiian Electric Industries presently has an average rating of “Hold” and an average price target of $12.00.

Hawaiian Electric Industries Stock Performance

NYSE:HE opened at $10.93 on Monday. The stock has a market cap of $1.89 billion, a P/E ratio of -0.92 and a beta of 0.64. The firm’s fifty day simple moving average is $10.51 and its 200 day simple moving average is $10.15. Hawaiian Electric Industries has a twelve month low of $7.61 and a twelve month high of $18.19. 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 (NYSE:HE) last announced its quarterly earnings data on Friday, May 9th. The utilities provider reported $0.23 EPS for the quarter, meeting the consensus estimate of $0.23. The business had revenue of $744.07 million during the quarter. Hawaiian Electric Industries had a positive return on equity of 11.12% and a negative net margin of 35.38%. During the same period in the prior year, the business posted $0.38 EPS. As a group, research analysts predict that Hawaiian Electric Industries will post 1.71 EPS for the current year.

Institutional Investors Weigh In On Hawaiian Electric Industries

A number of large investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Hawaiian Electric Industries by 6.5% during the 4th quarter. Vanguard Group Inc. now owns 18,231,969 shares of the utilities provider’s stock valued at $177,397,000 after purchasing an additional 1,112,150 shares during the period. Zimmer Partners LP lifted its holdings in Hawaiian Electric Industries by 1.4% in the 4th quarter. Zimmer Partners LP now owns 15,202,552 shares of the utilities provider’s stock worth $147,921,000 after purchasing an additional 202,552 shares in the last quarter. T. Rowe Price Investment Management Inc. purchased a new position in Hawaiian Electric Industries in the 4th quarter worth approximately $115,010,000. Geode Capital Management LLC lifted its holdings in Hawaiian Electric Industries by 3.5% in the 4th quarter. Geode Capital Management LLC now owns 3,925,882 shares of the utilities provider’s stock worth $38,208,000 after purchasing an additional 132,740 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Hawaiian Electric Industries by 6.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,687,636 shares of the utilities provider’s stock worth $40,380,000 after acquiring an additional 216,114 shares in the last quarter. 59.91% of the stock is currently owned by institutional investors.

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.