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

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

Other research analysts have also issued research reports about the stock. Wells Fargo & Company cut their target price on shares of Hawaiian Electric Industries from $14.00 to $11.50 and set an “equal weight” rating for the company in a research report 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 for the company in a research report on Tuesday, November 19th. Finally, Jefferies Financial Group assumed coverage on Hawaiian Electric Industries in a report on Tuesday, December 3rd. They issued a “hold” rating and a $11.50 target price on the stock.

Hawaiian Electric Industries Trading Up 0.3 %

Hawaiian Electric Industries stock opened at $9.94 on Thursday. Hawaiian Electric Industries has a one year low of $7.61 and a one year high of $18.19. The company’s fifty day moving average price is $10.21 and its two-hundred day moving average price is $11.07. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.18 and a quick ratio of 0.18. The company has a market capitalization of $1.71 billion, a price-to-earnings ratio of -0.84 and a beta of 0.53.

Hawaiian Electric Industries (NYSE:HE) last issued its quarterly earnings data on Friday, November 8th. The utilities provider reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.07). Hawaiian Electric Industries had a negative net margin of 35.38% and a positive return on equity of 11.12%. The company had revenue of $983.38 million for the quarter. During the same quarter last year, the company posted $0.37 earnings per share. The business’s revenue was up 9.0% compared to the same quarter last year. On average, analysts forecast that Hawaiian Electric Industries will post 1.71 earnings per share for the current fiscal year.

Institutional Trading of Hawaiian Electric Industries

Several hedge funds have recently modified their holdings of the company. Zimmer Partners LP acquired a new stake in shares of Hawaiian Electric Industries in the third quarter valued at $145,200,000. FMR LLC raised its stake in shares of Hawaiian Electric Industries by 7,986.3% in the third quarter. FMR LLC now owns 5,340,679 shares of the utilities provider’s stock worth $51,698,000 after acquiring an additional 5,274,633 shares during the last quarter. Franklin Resources Inc. raised its stake in shares of Hawaiian Electric Industries by 656.7% in the third quarter. Franklin Resources Inc. now owns 2,722,668 shares of the utilities provider’s stock worth $27,499,000 after acquiring an additional 2,362,863 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of Hawaiian Electric Industries by 52.8% in the second quarter. AQR Capital Management LLC now owns 6,693,424 shares of the utilities provider’s stock worth $60,308,000 after acquiring an additional 2,312,950 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Hawaiian Electric Industries by 49.3% during the third quarter. Geode Capital Management LLC now owns 3,793,142 shares of the utilities provider’s stock valued at $36,725,000 after purchasing an additional 1,253,143 shares during the last quarter. Institutional investors and hedge funds own 59.91% of the company’s stock.

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.