Hawaiian Electric Industries (NYSE:HE) Upgraded at StockNews.com

StockNews.com upgraded shares of Hawaiian Electric Industries (NYSE:HE) from a sell rating to a hold rating in a research note released on Monday.

Separately, Evercore ISI upped their price objective on Hawaiian Electric Industries from $7.00 to $11.00 and gave the company an in-line rating in a report 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. According to data from MarketBeat, the stock currently has an average rating of Hold and a consensus target price of $11.50.

Hawaiian Electric Industries Stock Up 2.7 %

HE opened at $9.78 on Monday. Hawaiian Electric Industries has a 1-year low of $8.74 and a 1-year high of $40.16. The stock’s fifty day simple moving average is $11.73 and its 200 day simple moving average is $12.70. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 1.21. The stock has a market cap of $1.08 billion, a PE ratio of 5.40 and a beta of 0.53.

Hawaiian Electric Industries (NYSE:HE) last posted its quarterly earnings results on Tuesday, February 13th. The utilities provider reported $0.48 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.48. Hawaiian Electric Industries had a return on equity of 9.99% and a net margin of 5.45%. The business had revenue of $961.40 million for the quarter. During the same quarter last year, the company posted $0.52 EPS. The firm’s revenue was down 5.7% on a year-over-year basis. As a group, research analysts expect that Hawaiian Electric Industries will post 1.98 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Counterpoint Mutual Funds LLC acquired a new stake in shares of Hawaiian Electric Industries during the 1st quarter worth $707,000. Alaska Permanent Fund Corp grew its holdings in shares of Hawaiian Electric Industries by 150.0% during the 1st quarter. Alaska Permanent Fund Corp now owns 137,406 shares of the utilities provider’s stock worth $1,549,000 after purchasing an additional 82,442 shares in the last quarter. Quadrature Capital Ltd grew its holdings in shares of Hawaiian Electric Industries by 16.5% during the 4th quarter. Quadrature Capital Ltd now owns 157,903 shares of the utilities provider’s stock worth $2,241,000 after purchasing an additional 22,363 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Hawaiian Electric Industries by 44.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 14,601 shares of the utilities provider’s stock worth $207,000 after purchasing an additional 4,515 shares in the last quarter. Finally, Wellington Management Group LLP acquired a new stake in shares of Hawaiian Electric Industries during the 4th quarter worth $2,370,000. 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.