Hawaiian Electric Industries (NYSE:HE) Upgraded by StockNews.com to Hold Rating

Hawaiian Electric Industries (NYSE:HE) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday.

Several other equities analysts have also weighed in on the stock. Evercore ISI dropped their price objective on shares of Hawaiian Electric Industries from $11.00 to $10.00 and set an “in-line” rating on the stock in a research report on Tuesday, November 19th. Wells Fargo & Company lowered their price target on shares of Hawaiian Electric Industries from $14.00 to $11.50 and set an “equal weight” rating on the stock in a report on Monday, September 30th. Finally, Jefferies Financial Group assumed coverage on Hawaiian Electric Industries in a report on Tuesday, December 3rd. They set a “hold” rating and a $11.50 price objective for the company.

Hawaiian Electric Industries Trading Down 5.5 %

Hawaiian Electric Industries stock opened at $9.62 on Tuesday. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.18 and a current ratio of 0.18. The stock has a 50-day simple moving average of $10.24 and a 200 day simple moving average of $11.10. The stock has a market capitalization of $1.66 billion, a P/E ratio of -0.81 and a beta of 0.53. Hawaiian Electric Industries has a 52 week low of $7.61 and a 52 week high of $18.19.

Hawaiian Electric Industries (NYSE:HE) last issued its earnings results on Friday, November 8th. The utilities provider reported $0.46 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.07). Hawaiian Electric Industries had a positive return on equity of 11.12% and a negative net margin of 35.38%. The business had revenue of $983.38 million for the quarter. During the same period in the prior year, the company earned $0.37 EPS. The company’s revenue for the quarter was up 9.0% compared to the same quarter last year. Analysts expect 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 bought and sold shares of the business. Franklin Resources Inc. increased its holdings in shares of Hawaiian Electric Industries by 656.7% during the third quarter. Franklin Resources Inc. now owns 2,722,668 shares of the utilities provider’s stock worth $27,499,000 after purchasing an additional 2,362,863 shares during the period. Peapack Gladstone Financial Corp bought a new position in Hawaiian Electric Industries during the 3rd quarter worth $184,000. Sanctuary Advisors LLC acquired a new position in Hawaiian Electric Industries in the 3rd quarter valued at $112,000. Virtu Financial LLC bought a new stake in shares of Hawaiian Electric Industries during the 3rd quarter valued at $821,000. Finally, Geode Capital Management LLC grew its holdings in shares of Hawaiian Electric Industries by 49.3% during the 3rd quarter. Geode Capital Management LLC now owns 3,793,142 shares of the utilities provider’s stock worth $36,725,000 after purchasing an additional 1,253,143 shares in the last quarter. 59.91% of the stock is owned by institutional investors.

Hawaiian Electric Industries Company Profile

Hawaiian Electric Industries, Inc, together with its subsidiaries, engages in the electric utility businesses in the United States. It operates in three segments: Electric Utility, Bank, and Other. The Electric Utility segment engages in the production, purchase, transmission, distribution, and sale of electricity in the islands of Oahu, Hawaii, Maui, Lanai, and Molokai.