Hawaiian Electric Industries, Inc. (NYSE:HE) Given Average Recommendation of “Hold” by Brokerages

Shares of Hawaiian Electric Industries, Inc. (NYSE:HE) have been given a consensus recommendation of “Hold” by the five research firms that are currently covering the company, Marketbeat reports. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $13.1667.

HE has been the topic of several research analyst reports. Jefferies Financial Group downgraded Hawaiian Electric Industries from a “hold” rating to an “underperform” rating and dropped their price target for the company from $13.50 to $12.50 in a research note on Tuesday, January 20th. Zacks Research raised shares of Hawaiian Electric Industries to a “hold” rating in a research report on Monday, February 9th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Hawaiian Electric Industries in a report on Monday, December 29th. Finally, Barclays increased their price objective on shares of Hawaiian Electric Industries from $11.00 to $13.00 and gave the stock a “positive” rating in a research note on Monday, January 26th.

Hawaiian Electric Industries Stock Performance

Shares of Hawaiian Electric Industries stock opened at $15.45 on Monday. The firm has a market capitalization of $2.67 billion, a P/E ratio of 21.76 and a beta of 0.62. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.79. The company has a 50 day moving average price of $14.69 and a 200 day moving average price of $12.74. Hawaiian Electric Industries has a 52 week low of $9.06 and a 52 week high of $17.38.

Hawaiian Electric Industries (NYSE:HE) last issued its quarterly earnings results on Friday, February 27th. The utilities provider reported $0.24 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.24. Hawaiian Electric Industries had a net margin of 4.09% and a return on equity of 9.93%. The business had revenue of $805.82 million for the quarter. Sell-side analysts expect that Hawaiian Electric Industries will post 1.71 EPS for the current year.

Hedge Funds Weigh In On Hawaiian Electric Industries

Institutional investors and hedge funds have recently modified their holdings of the stock. Y Intercept Hong Kong Ltd grew its stake in shares of Hawaiian Electric Industries by 72.9% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 204,200 shares of the utilities provider’s stock worth $2,254,000 after purchasing an additional 86,117 shares during the period. Horizon Kinetics Asset Management LLC lifted its stake in shares of Hawaiian Electric Industries by 28.6% in the 2nd quarter. Horizon Kinetics Asset Management LLC now owns 16,281,709 shares of the utilities provider’s stock valued at $173,075,000 after purchasing an additional 3,624,709 shares during the period. Inspire Advisors LLC purchased a new stake in Hawaiian Electric Industries during the third quarter worth $1,000,000. Wealth Enhancement Advisory Services LLC acquired a new stake in Hawaiian Electric Industries during the third quarter valued at $344,000. Finally, Assenagon Asset Management S.A. grew its position in Hawaiian Electric Industries by 180.6% during the third quarter. Assenagon Asset Management S.A. now owns 878,253 shares of the utilities provider’s stock valued at $9,696,000 after buying an additional 565,218 shares during the period. Institutional investors and hedge funds own 59.91% of the company’s stock.

Hawaiian Electric Industries Company Profile

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.