Hawaiian Electric Industries (NYSE:HE) Upgraded to Hold at StockNews.com

by · The Markets Daily

StockNews.com upgraded shares of Hawaiian Electric Industries (NYSE:HE – Free Report) from a sell rating to a hold rating in a research report released on Saturday morning.

HE has been the subject of several other research reports. Wells Fargo & Company dropped their price objective on shares of Hawaiian Electric Industries from $14.00 to $11.50 and set an “equal weight” rating for the company in a research note on Monday, September 30th. Evercore ISI cut their price objective on Hawaiian Electric Industries from $11.00 to $10.00 and set an “in-line” rating on the stock in a report on Tuesday, November 19th. Finally, Jefferies Financial Group reduced their price objective on Hawaiian Electric Industries from $11.50 to $10.50 and set a “hold” rating on the stock in a research report on Friday, January 3rd.

View Our Latest Stock Analysis on Hawaiian Electric Industries

Hawaiian Electric Industries Trading Up 1.7 %

Shares of HE stock opened at $8.32 on Friday. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.18 and a current ratio of 0.18. 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 market cap of $1.43 billion, a PE ratio of -0.70 and a beta of 0.53. The stock’s fifty day moving average price is $10.02 and its two-hundred day moving average price is $11.05.

Hawaiian Electric Industries (NYSE:HE – Get Free Report) last released its earnings results on Friday, November 8th. The utilities provider reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.07). The business had revenue of $983.38 million during the quarter. Hawaiian Electric Industries had a negative net margin of 35.38% and a positive return on equity of 11.12%. The firm’s revenue was up 9.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.37 EPS. Equities analysts predict that Hawaiian Electric Industries will post 1.71 EPS for the current fiscal year.

Hedge Funds Weigh In On Hawaiian Electric Industries

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. KBC Group NV raised its position 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 acquiring an additional 1,021 shares during the last quarter. UMB Bank n.a. acquired a new stake in Hawaiian Electric Industries during the 3rd quarter valued at approximately $42,000. Quarry LP raised its holdings in Hawaiian Electric Industries by 156.6% during the 3rd quarter. Quarry LP now owns 4,503 shares of the utilities provider’s stock worth $44,000 after purchasing an additional 2,748 shares during the last quarter. Millburn Ridgefield Corp acquired a new position in shares of Hawaiian Electric Industries in the 3rd quarter worth approximately $55,000. Finally, Quest Partners LLC boosted its stake in shares of Hawaiian Electric Industries by 126.1% in the 3rd quarter. Quest Partners LLC now owns 7,983 shares of the utilities provider’s stock valued at $77,000 after purchasing an additional 4,453 shares during the last quarter. 59.91% of the stock is currently owned by institutional investors and hedge funds.

About Hawaiian Electric Industries

(Get Free Report)

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.

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