Hawaiian Electric Industries, Inc. (NYSE:HE) Receives Consensus Rating of “Hold” from Analysts

by · The Cerbat Gem

Shares of Hawaiian Electric Industries, Inc. (NYSE:HE – Get Free Report) have been given an average recommendation of “Hold” by the five brokerages that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and one has given a buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $12.3750.

A number of research firms recently weighed in on HE. Weiss Ratings restated a “sell (d)” rating on shares of Hawaiian Electric Industries in a report on Monday, December 29th. Barclays increased their price target on Hawaiian Electric Industries from $10.00 to $11.00 and gave the company an “equal weight” rating in a research note on Thursday. Finally, Jefferies Financial Group reaffirmed a “hold” rating on shares of Hawaiian Electric Industries in a research note on Friday, December 19th.

Read Our Latest Report on Hawaiian Electric Industries

Hawaiian Electric Industries Stock Up 1.5%

HE stock opened at $14.24 on Friday. The firm has a 50-day moving average price of $12.11 and a 200-day moving average price of $11.66. Hawaiian Electric Industries has a 12 month low of $8.65 and a 12 month high of $15.05. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.79. The stock has a market capitalization of $2.46 billion, a P/E ratio of 178.00 and a beta of 0.64.

Hawaiian Electric Industries (NYSE:HE – Get Free Report) last posted its earnings results on Friday, November 7th. The utilities provider reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.39. Hawaiian Electric Industries had a net margin of 0.56% and a return on equity of 9.51%. The firm had revenue of $790.61 million for the quarter. As a group, equities research analysts anticipate that Hawaiian Electric Industries will post 1.71 EPS for the current fiscal year.

Institutional Investors Weigh In On Hawaiian Electric Industries

Large investors have recently modified their holdings of the company. Comerica Bank lifted its holdings in Hawaiian Electric Industries by 45.0% in the first quarter. Comerica Bank now owns 6,075 shares of the utilities provider’s stock valued at $67,000 after buying an additional 1,886 shares during the period. Royal Bank of Canada grew its holdings in Hawaiian Electric Industries by 51.9% during the 1st quarter. Royal Bank of Canada now owns 379,888 shares of the utilities provider’s stock worth $4,159,000 after acquiring an additional 129,819 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Hawaiian Electric Industries by 16.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 121,582 shares of the utilities provider’s stock worth $1,331,000 after acquiring an additional 17,158 shares in the last quarter. Empowered Funds LLC lifted its stake in shares of Hawaiian Electric Industries by 12.9% in the 1st quarter. Empowered Funds LLC now owns 26,690 shares of the utilities provider’s stock valued at $292,000 after purchasing an additional 3,060 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Hawaiian Electric Industries by 36.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 491,366 shares of the utilities provider’s stock valued at $5,380,000 after purchasing an additional 132,321 shares in the last quarter. 59.91% of the stock is currently owned by institutional investors and hedge funds.

Hawaiian Electric Industries Company Profile

(Get Free Report)

Hawaiian Electric Industries, Inc is a diversified holding company operating in the energy and financial services sectors in the state of Hawaii. Its principal subsidiary, Hawaiian Electric Company, provides generation, transmission, distribution and customer service to the island of Oahu, while its Maui Electric and Hawaii Electric Light Company subsidiaries serve Maui, Molokai, Lanai and Hawaii Island. The roots of the electric utility business trace back to 1891 when service first commenced in Honolulu.

Through its subsidiary Hawaii Gas, HEI extends its energy portfolio to include the distribution of natural gas and propane, supporting residential, commercial and industrial customers across the islands.

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