Hawaiian Electric Industries (NYSE:HE) Stock Rating Upgraded by Jefferies Financial Group

Hawaiian Electric Industries (NYSE:HE) was upgraded by investment analysts at Jefferies Financial Group to a “moderate sell” rating in a note issued to investors on Thursday, Zacks reports.

Other equities research analysts have also recently issued research reports about the company. LADENBURG THALM/SH SH began coverage on Hawaiian Electric Industries in a report on Tuesday, September 8th. They set a “sell” rating and a $7.00 price objective on the stock. Zacks Research lowered Hawaiian Electric Industries from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 11th. Barclays reduced their target price on Hawaiian Electric Industries from $13.00 to $12.00 and set an “equal weight” rating on the stock in a research report on Tuesday, August 11th. Finally, Weiss Ratings raised Hawaiian Electric Industries from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Tuesday, August 11th. Two analysts have rated the stock with a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Strong Sell” and an average target price of $9.25.

Hawaiian Electric Industries Stock Performance

Shares of HE opened at $9.80 on Thursday. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.99 and a current ratio of 0.99. The company has a market capitalization of $1.69 billion, a price-to-earnings ratio of 7.54 and a beta of 0.48. The company’s 50 day simple moving average is $11.94 and its 200 day simple moving average is $13.48. Hawaiian Electric Industries has a 1 year low of $9.79 and a 1 year high of $17.38.

Hawaiian Electric Industries (NYSE:HE) last announced its earnings results on Friday, August 7th. The utilities provider reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.08). The firm had revenue of $939.70 million for the quarter, compared to analyst estimates of $939.70 million. Hawaiian Electric Industries had a return on equity of 7.90% and a net margin of 6.89%.During the same quarter last year, the business posted $0.15 EPS. On average, sell-side analysts predict that Hawaiian Electric Industries will post 0.8 EPS for the current year.

Institutional Investors Weigh In On Hawaiian Electric Industries

Several large investors have recently made changes to their positions in HE. EverSource Wealth Advisors LLC increased its holdings in Hawaiian Electric Industries by 37.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,682 shares of the utilities provider’s stock valued at $33,000 after purchasing an additional 737 shares in the last quarter. Bleakley Financial Group LLC grew its stake in shares of Hawaiian Electric Industries by 1.8% in the first quarter. Bleakley Financial Group LLC now owns 56,974 shares of the utilities provider’s stock valued at $845,000 after buying an additional 985 shares in the last quarter. Truist Financial Corp raised its holdings in shares of Hawaiian Electric Industries by 6.3% during the 4th quarter. Truist Financial Corp now owns 16,929 shares of the utilities provider’s stock valued at $208,000 after buying an additional 1,004 shares during the period. Pecaut & CO. raised its holdings in shares of Hawaiian Electric Industries by 3.3% during the 2nd quarter. Pecaut & CO. now owns 41,300 shares of the utilities provider’s stock valued at $559,000 after buying an additional 1,300 shares during the period. Finally, Baker Avenue Asset Management LP lifted its position in Hawaiian Electric Industries by 8.2% during the 4th quarter. Baker Avenue Asset Management LP now owns 18,816 shares of the utilities provider’s stock worth $231,000 after acquiring an additional 1,433 shares in the last quarter. Institutional investors and hedge funds own 59.91% of the company’s stock.

Hawaiian Electric Industries Company Profile

Hawaiian Electric Industries, Inc (NYSE: HE) is a Hawaii-based holding company whose principal businesses are electric utility operations and banking. Through its utility subsidiaries, the company generates, purchases, transmits and distributes electricity to residential, commercial and industrial customers across the Hawaiian Islands.

Hawaiian Electric Company serves Oahu, while Maui Electric Company provides service on Maui, Molokai and Lanai. Hawaii Electric Light serves customers on the island of Hawaii.