Hawaiian Electric Industries (NYSE:HE) Stock Rating Upgraded by StockNews.com

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

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

Hawaiian Electric Industries Price Performance

Shares of HE opened at $10.22 on Monday. The business’s 50-day moving average is $11.66 and its two-hundred day moving average is $12.68. The company has a market capitalization of $1.13 billion, a P/E ratio of 5.40 and a beta of 0.53. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.13 and a current ratio of 0.13. Hawaiian Electric Industries has a fifty-two week low of $8.74 and a fifty-two week high of $40.16.

Hawaiian Electric Industries (NYSE:HE) last announced its quarterly earnings results on Tuesday, February 13th. The utilities provider reported $0.48 earnings per share 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 company had revenue of $961.40 million for the quarter. During the same period in the prior year, the business posted $0.52 earnings per share. Hawaiian Electric Industries’s revenue for the quarter was down 5.7% on a year-over-year basis. Research analysts predict that Hawaiian Electric Industries will post 1.98 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. UMB Bank n.a. purchased a new stake in shares of Hawaiian Electric Industries during the 3rd quarter valued at approximately $27,000. Gladius Capital Management LP increased its holdings in Hawaiian Electric Industries by 686.9% in the 4th quarter. Gladius Capital Management LP now owns 2,109 shares of the utilities provider’s stock valued at $30,000 after purchasing an additional 1,841 shares during the last quarter. Lazard Asset Management LLC acquired a new stake in Hawaiian Electric Industries in the 2nd quarter valued at approximately $34,000. Newbridge Financial Services Group Inc. acquired a new stake in Hawaiian Electric Industries in the 3rd quarter valued at approximately $35,000. Finally, Perkins Coie Trust Co acquired a new stake in Hawaiian Electric Industries in the 3rd quarter valued at approximately $36,000. 59.91% of the stock is owned by hedge funds and other institutional investors.

About Hawaiian Electric Industries

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.