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

StockNews.com upgraded shares of Hawaiian Electric Industries (NYSE:HE) from a sell rating to a hold rating in a report released on Monday.

Separately, Evercore ISI upped their price objective on shares of Hawaiian Electric Industries from $7.00 to $11.00 and gave the company an in-line rating in a research note on Thursday, February 15th. Two research analysts have rated the stock with a sell rating and two have issued a hold rating to the stock. Based on data from MarketBeat, the company has an average rating of Hold and a consensus target price of $11.50.

Hawaiian Electric Industries Price Performance

HE stock opened at $10.67 on Monday. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.13 and a quick ratio of 0.13. Hawaiian Electric Industries has a one year low of $9.06 and a one year high of $40.16. The stock has a market cap of $1.18 billion, a PE ratio of 5.89 and a beta of 0.53. The firm has a 50 day simple moving average of $11.85 and a two-hundred day simple moving average of $12.73.

Hawaiian Electric Industries (NYSE:HE) last released its quarterly earnings results on Tuesday, February 13th. The utilities provider reported $0.48 EPS for the quarter, hitting analysts’ consensus estimates of $0.48. Hawaiian Electric Industries had a net margin of 5.45% and a return on equity of 9.99%. The business had revenue of $961.40 million during the quarter. During the same period in the prior year, the firm earned $0.52 EPS. Hawaiian Electric Industries’s quarterly revenue was down 5.7% on a year-over-year basis. On average, analysts predict that Hawaiian Electric Industries will post 1.98 EPS for the current fiscal year.

Institutional Investors 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. Thrivent Financial for Lutherans raised its holdings in Hawaiian Electric Industries by 0.9% during the 3rd quarter. Thrivent Financial for Lutherans now owns 28,973 shares of the utilities provider’s stock valued at $1,004,000 after buying an additional 264 shares during the last quarter. Bank of Montreal Can raised its holdings in Hawaiian Electric Industries by 3.0% in the 1st quarter. Bank of Montreal Can now owns 13,673 shares of the utilities provider’s stock worth $584,000 after purchasing an additional 403 shares in the last quarter. Public Employees Retirement System of Ohio raised its holdings in Hawaiian Electric Industries by 0.8% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 61,142 shares of the utilities provider’s stock worth $2,119,000 after purchasing an additional 473 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in Hawaiian Electric Industries by 0.3% in the 1st quarter. Ameriprise Financial Inc. now owns 185,720 shares of the utilities provider’s stock worth $7,132,000 after purchasing an additional 514 shares in the last quarter. Finally, Captrust Financial Advisors raised its holdings in Hawaiian Electric Industries by 6.7% in the 4th quarter. Captrust Financial Advisors now owns 10,541 shares of the utilities provider’s stock worth $441,000 after purchasing an additional 658 shares in the last quarter. 59.91% of the stock is currently owned by institutional investors.

Hawaiian Electric Industries Company Profile

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.