StockNews.com Upgrades Hawaiian Electric Industries (NYSE:HE) to “Hold”

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

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

Hawaiian Electric Industries Trading Up 2.7 %

Shares of Hawaiian Electric Industries stock opened at $9.78 on Monday. The stock has a fifty day simple moving average of $11.73 and a 200 day simple moving average of $12.70. Hawaiian Electric Industries has a 12-month low of $8.74 and a 12-month high of $40.16. The company has a market capitalization of $1.08 billion, a P/E ratio of 5.40 and a beta of 0.53. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 1.21.

Hawaiian Electric Industries (NYSE:HE) last announced its quarterly earnings results on Tuesday, February 13th. The utilities provider reported $0.48 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.48. Hawaiian Electric Industries had a return on equity of 9.99% and a net margin of 5.45%. The business had revenue of $961.40 million during the quarter. During the same quarter last year, the company posted $0.52 EPS. The company’s quarterly revenue was down 5.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Hawaiian Electric Industries will post 1.98 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Counterpoint Mutual Funds LLC purchased a new position in shares of Hawaiian Electric Industries during the 1st quarter valued at $707,000. Alaska Permanent Fund Corp lifted its position in shares of Hawaiian Electric Industries by 150.0% during the 1st quarter. Alaska Permanent Fund Corp now owns 137,406 shares of the utilities provider’s stock valued at $1,549,000 after buying an additional 82,442 shares during the last quarter. Quadrature Capital Ltd lifted its position in shares of Hawaiian Electric Industries by 16.5% during the 4th quarter. Quadrature Capital Ltd now owns 157,903 shares of the utilities provider’s stock valued at $2,241,000 after buying an additional 22,363 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Hawaiian Electric Industries by 44.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 14,601 shares of the utilities provider’s stock valued at $207,000 after buying an additional 4,515 shares during the last quarter. Finally, Wellington Management Group LLP purchased a new position in shares of Hawaiian Electric Industries during the 4th quarter valued at $2,370,000. Hedge funds and other institutional investors own 59.91% of the company’s stock.

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.