Hawaiian Electric Industries, Inc. (NYSE:HE) Receives Consensus Rating of “Hold” from Analysts

Hawaiian Electric Industries, Inc. (NYSE:HE) has been given an average recommendation of “Hold” by the five analysts that are currently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $13.00.

Several research analysts have recently commented on the stock. Barclays raised 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 note on Monday, January 26th. Jefferies Financial Group cut Hawaiian Electric Industries from a “hold” rating to an “underperform” rating and cut their price target for the company from $13.50 to $12.50 in a research note on Tuesday, January 20th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Hawaiian Electric Industries in a report on Monday, December 29th.

Hawaiian Electric Industries Stock Performance

NYSE HE opened at $16.84 on Thursday. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.79. The stock has a market cap of $2.91 billion, a PE ratio of 210.50 and a beta of 0.63. The stock has a fifty day simple moving average of $13.45 and a 200-day simple moving average of $12.24. Hawaiian Electric Industries has a twelve month low of $9.06 and a twelve month high of $17.38.

Hawaiian Electric Industries (NYSE:HE) last released its quarterly earnings results on Friday, November 7th. The utilities provider reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.39. Hawaiian Electric Industries had a net margin of 0.56% and a return on equity of 9.51%. The business had revenue of $790.61 million for the quarter. Equities analysts anticipate that Hawaiian Electric Industries will post 1.71 earnings per share for the current year.

Hedge Funds Weigh In On Hawaiian Electric Industries

A number of hedge funds have recently modified their holdings of HE. Vanguard Group Inc. boosted its stake in shares of Hawaiian Electric Industries by 9.2% during the fourth quarter. Vanguard Group Inc. now owns 19,410,325 shares of the utilities provider’s stock worth $238,747,000 after buying an additional 1,628,307 shares during the period. Horizon Kinetics Asset Management LLC boosted its holdings in Hawaiian Electric Industries by 28.6% during the second quarter. Horizon Kinetics Asset Management LLC now owns 16,281,709 shares of the utilities provider’s stock worth $173,075,000 after buying an additional 3,624,709 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Hawaiian Electric Industries by 5.3% during the 4th quarter. Geode Capital Management LLC now owns 4,125,284 shares of the utilities provider’s stock worth $50,750,000 after acquiring an additional 209,192 shares in the last quarter. Franklin Resources Inc. boosted its position in Hawaiian Electric Industries by 1.3% during the second quarter. Franklin Resources Inc. now owns 2,744,843 shares of the utilities provider’s stock worth $29,178,000 after purchasing an additional 34,535 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Hawaiian Electric Industries by 10.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,061,759 shares of the utilities provider’s stock worth $22,762,000 after buying an additional 195,327 shares in the last quarter. 59.91% of the stock is currently owned by hedge funds and other institutional investors.

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.