Evercore ISI Upgrades Hawaiian Electric Industries (NYSE:HE) to Outperform

Evercore ISI upgraded shares of Hawaiian Electric Industries (NYSE:HE) from an in-line rating to an outperform rating in a research report report published on Friday, Marketbeat reports. Evercore ISI currently has $14.00 target price on the utilities provider’s stock, up from their previous target price of $12.00.

Several other equities research analysts have also recently issued reports on HE. StockNews.com cut shares of Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a research report on Tuesday, February 11th. Barclays boosted their price target on shares of Hawaiian Electric Industries from $10.00 to $11.00 and gave the company an “equal weight” rating in a research report on Tuesday. Jefferies Financial Group reduced their price target on shares of Hawaiian Electric Industries from $11.50 to $10.50 and set a “hold” rating for the company in a research report on Friday, January 3rd. Finally, Wells Fargo & Company boosted their price target on shares of Hawaiian Electric Industries from $11.00 to $12.50 and gave the company an “equal weight” rating in a research report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $12.00.

Hawaiian Electric Industries Stock Up 10.4 %

Hawaiian Electric Industries stock opened at $11.48 on Friday. Hawaiian Electric Industries has a fifty-two week low of $7.61 and a fifty-two week high of $18.19. 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 firm has a 50 day moving average price of $9.74 and a 200 day moving average price of $10.20. The company has a market capitalization of $1.98 billion, a PE ratio of -0.97 and a beta of 0.46.

Hawaiian Electric Industries (NYSE:HE) last posted its quarterly earnings results on Friday, February 21st. The utilities provider reported $0.20 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.19). The business had revenue of $799.18 million during the quarter. Hawaiian Electric Industries had a positive return on equity of 11.12% and a negative net margin of 35.38%. Research analysts expect that Hawaiian Electric Industries will post 1.71 earnings per share for the current year.

Institutional Investors Weigh In On Hawaiian Electric Industries

A number of institutional investors and hedge funds have recently bought and sold shares of HE. Blue Trust Inc. increased its stake in Hawaiian Electric Industries by 203.0% in the fourth quarter. Blue Trust Inc. now owns 3,078 shares of the utilities provider’s stock valued at $30,000 after purchasing an additional 2,062 shares during the period. R Squared Ltd acquired a new stake in shares of Hawaiian Electric Industries during the fourth quarter worth about $36,000. KBC Group NV boosted its stake 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 worth $38,000 after buying an additional 1,021 shares during the period. Comerica Bank boosted its stake in shares of Hawaiian Electric Industries by 69.3% during the fourth quarter. Comerica Bank now owns 4,189 shares of the utilities provider’s stock worth $41,000 after buying an additional 1,715 shares during the period. Finally, Quarry LP boosted its stake in shares of 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 buying an additional 2,748 shares during the period. 59.91% of the stock is owned by hedge funds and other institutional investors.

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.