Hawaiian Electric Industries (NYSE:HE) Upgraded at Wall Street Zen
by Danessa Lincoln · The Markets DailyWall Street Zen upgraded shares of Hawaiian Electric Industries (NYSE:HE – Free Report) from a hold rating to a buy rating in a research report released on Saturday morning.
HE has been the topic of several other research reports. Zacks Research raised Hawaiian Electric Industries to a “hold” rating in a report on Monday, February 9th. Weiss Ratings upgraded Hawaiian Electric Industries from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, March 2nd. Barclays boosted their target price on Hawaiian Electric Industries from $13.00 to $14.00 and gave the stock an “equal weight” rating in a research report on Monday, March 2nd. Finally, Jefferies Financial Group downgraded Hawaiian Electric Industries from a “hold” rating to an “underperform” rating and reduced their target price for the company from $13.50 to $12.50 in a report on Tuesday, January 20th. Three research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Reduce” and a consensus price target of $13.25.
View Our Latest Analysis on HE
Hawaiian Electric Industries Stock Performance
Shares of HE opened at $15.17 on Friday. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.32 and a quick ratio of 1.32. The firm’s 50 day moving average is $15.13 and its 200-day moving average is $12.92. Hawaiian Electric Industries has a 12-month low of $9.06 and a 12-month high of $17.38. The stock has a market capitalization of $2.62 billion, a P/E ratio of 21.36 and a beta of 0.62.
Hawaiian Electric Industries (NYSE:HE – Get Free Report) last released its earnings results on Friday, February 27th. The utilities provider reported $0.24 EPS for the quarter, meeting the consensus estimate of $0.24. The business had revenue of $805.82 million during the quarter. Hawaiian Electric Industries had a net margin of 4.09% and a return on equity of 9.82%. Equities research analysts anticipate that Hawaiian Electric Industries will post 1.71 EPS for the current fiscal year.
Hedge Funds Weigh In On Hawaiian Electric Industries
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Navalign LLC acquired a new stake in Hawaiian Electric Industries during the 4th quarter valued at $25,000. Caitong International Asset Management Co. Ltd boosted its position in shares of Hawaiian Electric Industries by 199,800.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,999 shares of the utilities provider’s stock worth $25,000 after buying an additional 1,998 shares during the period. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Hawaiian Electric Industries by 142.2% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 2,325 shares of the utilities provider’s stock valued at $26,000 after buying an additional 1,365 shares in the last quarter. Larson Financial Group LLC grew its holdings in shares of Hawaiian Electric Industries by 242.2% during the third quarter. Larson Financial Group LLC now owns 2,741 shares of the utilities provider’s stock valued at $30,000 after buying an additional 1,940 shares in the last quarter. Finally, Tucker Asset Management LLC acquired a new position in Hawaiian Electric Industries during the fourth quarter valued at $32,000. Institutional investors and hedge funds own 59.91% of the company’s stock.
About Hawaiian Electric Industries
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.