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

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

A number of other research firms have also weighed in on HE. Jefferies Financial Group decreased their target price on shares of Hawaiian Electric Industries from $11.50 to $10.50 and set a “hold” rating on the stock in a research note on Friday, January 3rd. Wells Fargo & Company reduced their price objective on Hawaiian Electric Industries from $14.00 to $11.50 and set an “equal weight” rating on the stock in a research report on Monday, September 30th. Finally, Evercore ISI dropped their target price on Hawaiian Electric Industries from $11.00 to $10.00 and set an “in-line” rating for the company in a report on Tuesday, November 19th.

Hawaiian Electric Industries Stock Down 7.9 %

Shares of HE opened at $8.21 on Friday. The stock has a 50 day moving average price of $10.06 and a 200 day moving average price of $11.06. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.18 and a current ratio of 0.18. The stock 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 one year low of $7.61 and a one year high of $18.19.

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in HE. KBC Group NV increased its position in shares of Hawaiian Electric Industries by 34.8% during the third quarter. KBC Group NV now owns 3,956 shares of the utilities provider’s stock valued at $38,000 after acquiring an additional 1,021 shares during the last quarter. UMB Bank n.a. purchased a new position in shares of Hawaiian Electric Industries during the 3rd quarter worth approximately $42,000. Quarry LP increased its holdings in Hawaiian Electric Industries by 156.6% in the 3rd quarter. Quarry LP now owns 4,503 shares of the utilities provider’s stock valued at $44,000 after purchasing an additional 2,748 shares during the last quarter. Millburn Ridgefield Corp purchased a new stake in Hawaiian Electric Industries in the third quarter valued at approximately $55,000. Finally, Quest Partners LLC lifted its stake in Hawaiian Electric Industries by 126.1% during the third quarter. Quest Partners LLC now owns 7,983 shares of the utilities provider’s stock worth $77,000 after purchasing an additional 4,453 shares in the last quarter. 59.91% of the stock is currently owned by hedge funds and other 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.