StockNews.com Upgrades Hawaiian Electric Industries (NYSE:HE) to Hold

Hawaiian Electric Industries (NYSE:HE) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a report issued on Monday.

Separately, Evercore ISI upped their target price on Hawaiian Electric Industries from $7.00 to $11.00 and gave the company an “in-line” rating in a research note on Thursday, February 15th. Two equities research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, Hawaiian Electric Industries currently has an average rating of “Hold” and a consensus target price of $11.50.

Hawaiian Electric Industries Trading Down 10.7 %

Shares of NYSE HE opened at $9.52 on Monday. The business’s 50 day moving average is $11.80 and its two-hundred day moving average is $12.72. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.13 and a quick ratio of 0.13. Hawaiian Electric Industries has a 1-year low of $8.74 and a 1-year high of $40.16. The stock has a market capitalization of $1.05 billion, a P/E ratio of 5.25 and a beta of 0.53.

Hawaiian Electric Industries (NYSE:HE) last issued its quarterly earnings data on Tuesday, February 13th. The utilities provider reported $0.48 earnings per share for the quarter, hitting the consensus estimate of $0.48. Hawaiian Electric Industries had a return on equity of 9.99% and a net margin of 5.45%. The company had revenue of $961.40 million for the quarter. During the same period in the previous year, the firm earned $0.52 earnings per share. The company’s revenue was down 5.7% compared to the same quarter last year. As a group, research analysts expect that Hawaiian Electric Industries will post 1.98 EPS for the current year.

Hedge Funds Weigh In On Hawaiian Electric Industries

Several hedge funds have recently made changes to their positions in HE. AQR Capital Management LLC increased its position in shares of Hawaiian Electric Industries by 1,470.8% in the 3rd quarter. AQR Capital Management LLC now owns 6,120,053 shares of the utilities provider’s stock valued at $75,338,000 after acquiring an additional 5,730,428 shares during the period. Morgan Stanley grew its position in Hawaiian Electric Industries by 240.3% during the 3rd quarter. Morgan Stanley now owns 2,211,650 shares of the utilities provider’s stock worth $27,225,000 after purchasing an additional 1,561,737 shares during the period. Assenagon Asset Management S.A. acquired a new stake in Hawaiian Electric Industries during the 4th quarter worth about $19,015,000. Qube Research & Technologies Ltd grew its position in Hawaiian Electric Industries by 7,788.3% during the 3rd quarter. Qube Research & Technologies Ltd now owns 1,190,815 shares of the utilities provider’s stock worth $14,659,000 after purchasing an additional 1,175,719 shares during the period. Finally, Jupiter Asset Management Ltd. grew its position in Hawaiian Electric Industries by 636.1% during the 3rd quarter. Jupiter Asset Management Ltd. now owns 1,209,258 shares of the utilities provider’s stock worth $14,886,000 after purchasing an additional 1,044,978 shares during the period. 59.91% of the stock is owned by institutional investors and hedge funds.

About Hawaiian Electric Industries

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.