Hawaiian Electric Industries (NYSE:HE) Upgraded at 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 Thursday morning.

Other research analysts also recently issued research reports about the company. Evercore ISI decreased their price objective 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. Jefferies Financial Group started coverage on shares of Hawaiian Electric Industries in a research note on Tuesday, December 3rd. They issued a “hold” rating and a $11.50 target price for the company. Finally, Wells Fargo & Company lowered their price target on shares of 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.

Hawaiian Electric Industries Stock Up 0.5 %

HE stock opened at $9.91 on Thursday. The stock has a market cap of $1.71 billion, a P/E ratio of -0.84 and a beta of 0.53. The company has a current ratio of 0.18, a quick ratio of 0.18 and a debt-to-equity ratio of 1.80. The stock’s fifty day simple moving average is $10.22 and its two-hundred day simple moving average is $11.07. 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 issued its quarterly earnings results on Friday, November 8th. The utilities provider reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $983.38 million for the quarter. During the same period in the prior year, the firm posted $0.37 EPS. The firm’s revenue was up 9.0% compared to the same quarter last year. Analysts expect 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 added to or reduced their stakes in the company. Zimmer Partners LP purchased a new position in Hawaiian Electric Industries during the 3rd quarter valued at $145,200,000. FMR LLC raised its position in shares of Hawaiian Electric Industries by 7,986.3% in the 3rd quarter. FMR LLC now owns 5,340,679 shares of the utilities provider’s stock worth $51,698,000 after acquiring an additional 5,274,633 shares in the last quarter. Franklin Resources Inc. lifted its position in Hawaiian Electric Industries by 656.7% during the third quarter. Franklin Resources Inc. now owns 2,722,668 shares of the utilities provider’s stock valued at $27,499,000 after buying an additional 2,362,863 shares during the period. AQR Capital Management LLC grew its position in shares of Hawaiian Electric Industries by 52.8% in the 2nd quarter. AQR Capital Management LLC now owns 6,693,424 shares of the utilities provider’s stock worth $60,308,000 after buying an additional 2,312,950 shares during the period. Finally, Geode Capital Management LLC lifted its position in Hawaiian Electric Industries by 49.3% during the 3rd quarter. Geode Capital Management LLC now owns 3,793,142 shares of the utilities provider’s stock valued at $36,725,000 after acquiring an additional 1,253,143 shares during the period. 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.