Hawaiian Electric Industries (NYSE:HE) Rating Increased to Hold at Zacks Research

Zacks Research upgraded shares of Hawaiian Electric Industries (NYSE:HE) to a hold rating in a research note released on Monday,Zacks.com reports.

A number of other equities analysts have also weighed in on the company. Jefferies Financial Group lowered Hawaiian Electric Industries from a “hold” rating to an “underperform” rating and lowered their price objective for the stock from $13.50 to $12.50 in a research note on Tuesday, January 20th. Barclays increased their price objective on shares of Hawaiian Electric Industries from $11.00 to $13.00 and gave the company a “positive” rating in a research report on Monday, January 26th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Hawaiian Electric Industries in a research report on Monday, December 29th. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Hawaiian Electric Industries has an average rating of “Hold” and a consensus target price of $13.00.

Hawaiian Electric Industries Stock Performance

HE stock traded up $0.04 during trading on Monday, hitting $16.74. 259,589 shares of the company traded hands, compared to its average volume of 3,323,306. Hawaiian Electric Industries has a 1 year low of $9.06 and a 1 year high of $17.38. The company has a market cap of $2.89 billion, a PE ratio of 208.44 and a beta of 0.63. The stock’s 50-day simple moving average is $13.57 and its 200 day simple moving average is $12.28. The company has a debt-to-equity ratio of 1.79, a current ratio of 1.35 and a quick ratio of 1.35.

Institutional Trading of Hawaiian Electric Industries

Several hedge funds have recently modified their holdings of HE. Comerica Bank grew its stake in shares of Hawaiian Electric Industries by 45.0% during the 1st quarter. Comerica Bank now owns 6,075 shares of the utilities provider’s stock worth $67,000 after purchasing an additional 1,886 shares during the period. Royal Bank of Canada increased its stake in Hawaiian Electric Industries by 51.9% in the 1st quarter. Royal Bank of Canada now owns 379,888 shares of the utilities provider’s stock valued at $4,159,000 after purchasing an additional 129,819 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Hawaiian Electric Industries by 16.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 121,582 shares of the utilities provider’s stock worth $1,331,000 after purchasing an additional 17,158 shares during the last quarter. Empowered Funds LLC grew its holdings in Hawaiian Electric Industries by 12.9% in the first quarter. Empowered Funds LLC now owns 26,690 shares of the utilities provider’s stock valued at $292,000 after purchasing an additional 3,060 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Hawaiian Electric Industries by 36.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 491,366 shares of the utilities provider’s stock valued at $5,380,000 after buying an additional 132,321 shares in the last quarter. 59.91% of the stock is owned by institutional investors and hedge funds.

About Hawaiian Electric Industries

Hawaiian Electric Industries, Inc is a diversified holding company operating in the energy and financial services sectors in the state of Hawaii. Its principal subsidiary, Hawaiian Electric Company, provides generation, transmission, distribution and customer service to the island of Oahu, while its Maui Electric and Hawaii Electric Light Company subsidiaries serve Maui, Molokai, Lanai and Hawaii Island. The roots of the electric utility business trace back to 1891 when service first commenced in Honolulu.

Through its subsidiary Hawaii Gas, HEI extends its energy portfolio to include the distribution of natural gas and propane, supporting residential, commercial and industrial customers across the islands.