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

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 on Thursday.

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

Hawaiian Electric Industries Stock Performance

HE opened at $9.94 on Thursday. Hawaiian Electric Industries has a twelve month low of $7.61 and a twelve month high of $18.19. The stock has a market cap of $1.71 billion, a PE ratio of -0.84 and a beta of 0.53. The business’s 50 day moving average is $10.21 and its 200-day moving average is $11.07. The company has a current ratio of 0.18, a quick ratio of 0.18 and a debt-to-equity ratio of 1.80.

Hawaiian Electric Industries (NYSE:HE) last announced its earnings results on Friday, November 8th. The utilities provider reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.07). Hawaiian Electric Industries had a negative net margin of 35.38% and a positive return on equity of 11.12%. The business had revenue of $983.38 million for the quarter. During the same quarter in the prior year, the firm earned $0.37 earnings per share. Hawaiian Electric Industries’s quarterly revenue was up 9.0% compared to the same quarter last year. On average, analysts predict that Hawaiian Electric Industries will post 1.71 earnings per share for the current year.

Hedge Funds Weigh In On Hawaiian Electric Industries

Several hedge funds have recently made changes to their positions in the business. Zimmer Partners LP bought a new stake in Hawaiian Electric Industries during the third quarter worth approximately $145,200,000. AQR Capital Management LLC lifted its position in shares of Hawaiian Electric Industries by 52.8% during the 2nd quarter. AQR Capital Management LLC now owns 6,693,424 shares of the utilities provider’s stock valued at $60,308,000 after acquiring an additional 2,312,950 shares during the last quarter. FMR LLC boosted its stake in shares of Hawaiian Electric Industries by 7,986.3% during the 3rd quarter. FMR LLC now owns 5,340,679 shares of the utilities provider’s stock worth $51,698,000 after acquiring an additional 5,274,633 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Hawaiian Electric Industries by 49.3% in the 3rd quarter. Geode Capital Management LLC now owns 3,793,142 shares of the utilities provider’s stock worth $36,725,000 after acquiring an additional 1,253,143 shares during the last quarter. Finally, State Street Corp raised its position in shares of Hawaiian Electric Industries by 19.8% during the third quarter. State Street Corp now owns 3,368,096 shares of the utilities provider’s stock worth $32,603,000 after purchasing an additional 556,747 shares during the period. Institutional investors and hedge funds own 59.91% of the company’s stock.

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.