Hawaiian Electric Industries (NYSE:HE) Stock Rating Upgraded by Zacks Research

Hawaiian Electric Industries (NYSE:HE) was upgraded by analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Tuesday,Zacks.com reports.

Other analysts have also issued research reports about the company. Wall Street Zen upgraded Hawaiian Electric Industries from a “hold” rating to a “buy” rating in a report on Saturday, March 7th. Weiss Ratings upgraded Hawaiian Electric Industries from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, March 2nd. Barclays upped their target price on Hawaiian Electric Industries from $13.00 to $14.00 and gave the stock an “equal weight” rating in a report on Monday, March 2nd. Finally, Jefferies Financial Group lowered Hawaiian Electric Industries from a “hold” rating to an “underperform” rating and dropped their target price for the stock from $13.50 to $12.50 in a report on Tuesday, January 20th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $13.25.

Hawaiian Electric Industries Stock Performance

Shares of Hawaiian Electric Industries stock opened at $15.52 on Tuesday. The firm has a market cap of $2.68 billion, a price-to-earnings ratio of 21.86 and a beta of 0.55. The stock’s 50-day moving average is $15.50 and its 200-day moving average is $13.30. Hawaiian Electric Industries has a one year low of $9.06 and a one year high of $17.38. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.32 and a quick ratio of 1.32.

Hawaiian Electric Industries (NYSE:HE) last issued its quarterly earnings results on Friday, February 27th. The utilities provider reported $0.24 EPS for the quarter, meeting analysts’ consensus estimates of $0.24. The company had revenue of $805.82 million for the quarter. Hawaiian Electric Industries had a return on equity of 9.82% and a net margin of 4.09%. Equities analysts predict that Hawaiian Electric Industries will post 1.71 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Hawaiian Electric Industries

A number of institutional investors have recently bought and sold shares of HE. State Street Corp increased its position in Hawaiian Electric Industries by 56.9% during the fourth quarter. State Street Corp now owns 7,005,768 shares of the utilities provider’s stock worth $86,171,000 after buying an additional 2,540,134 shares during the last quarter. 12 West Capital Management LP acquired a new position in Hawaiian Electric Industries during the fourth quarter worth approximately $22,755,000. Vanguard Group Inc. increased its position in 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 last quarter. Horizon Kinetics Asset Management LLC increased its position in Hawaiian Electric Industries by 6.2% during the fourth quarter. Horizon Kinetics Asset Management LLC now owns 19,392,363 shares of the utilities provider’s stock worth $238,526,000 after buying an additional 1,134,646 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in Hawaiian Electric Industries by 153.9% during the third quarter. JPMorgan Chase & Co. now owns 1,243,332 shares of the utilities provider’s stock worth $13,726,000 after buying an additional 753,549 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 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.