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

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

Other analysts have also issued reports about the company. Evercore ISI boosted their target price on Hawaiian Electric Industries from $11.00 to $16.00 and gave the company an in-line rating in a research report on Monday, August 5th. Wells Fargo & Company raised their price objective on Hawaiian Electric Industries from $8.50 to $9.00 and gave the company an underweight rating in a research note on Monday, May 13th. Two investment analysts have rated the stock with a sell rating and two have given a hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of Hold and an average price target of $12.88.

Hawaiian Electric Industries Trading Down 3.0 %

Shares of Hawaiian Electric Industries stock traded down $0.48 during midday trading on Wednesday, reaching $15.50. The company had a trading volume of 2,191,231 shares, compared to its average volume of 3,101,570. The stock has a fifty day moving average price of $11.89 and a 200 day moving average price of $11.65. Hawaiian Electric Industries has a fifty-two week low of $7.61 and a fifty-two week high of $35.57. The firm has a market cap of $1.71 billion, a PE ratio of 9.17 and a beta of 0.57. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.11 and a quick ratio of 0.11.

Hawaiian Electric Industries (NYSE:HE) last issued its quarterly earnings results on Friday, August 9th. The utilities provider reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.05). Hawaiian Electric Industries had a return on equity of 9.58% and a net margin of 5.16%. The business had revenue of $792.30 million for the quarter. Hawaiian Electric Industries’s quarterly revenue was down .2% compared to the same quarter last year.

Hedge Funds Weigh In On Hawaiian Electric Industries

Institutional investors have recently added to or reduced their stakes in the stock. Mitsubishi UFJ Trust & Banking Corp raised its holdings in shares of Hawaiian Electric Industries by 31.2% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 13,265 shares of the utilities provider’s stock valued at $147,000 after acquiring an additional 3,156 shares in the last quarter. Fidelis Capital Partners LLC bought a new stake in Hawaiian Electric Industries in the first quarter worth $42,000. State Board of Administration of Florida Retirement System grew its stake in shares of Hawaiian Electric Industries by 18.4% in the first quarter. State Board of Administration of Florida Retirement System now owns 156,734 shares of the utilities provider’s stock worth $1,766,000 after purchasing an additional 24,328 shares during the last quarter. Vanguard Group Inc. increased its holdings in Hawaiian Electric Industries by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 11,059,244 shares of the utilities provider’s stock valued at $124,638,000 after purchasing an additional 160,815 shares during the period. Finally, Acadian Asset Management LLC increased its position in Hawaiian Electric Industries by 470.4% during the 1st quarter. Acadian Asset Management LLC now owns 10,780 shares of the utilities provider’s stock valued at $121,000 after purchasing an additional 8,890 shares during the period. Institutional investors own 59.91% of the company’s stock.

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.