Bank of America Corporation began coverage on shares of Hawaiian Electric Industries, Inc. (NYSE:HE) in a report issued on Tuesday. The brokerage set an “underperform” rating on the utilities provider’s stock.

A number of other equities analysts have also recently issued reports on the company. Zacks Investment Research upgraded Hawaiian Electric Industries from a “sell” rating to a “hold” rating in a report on Wednesday, July 26th. BidaskClub upgraded Hawaiian Electric Industries from a “sell” rating to a “hold” rating in a report on Saturday, August 26th. Finally, J P Morgan Chase & Co raised their target price on Hawaiian Electric Industries from $33.00 to $34.00 and gave the stock a “neutral” rating in a report on Thursday, October 12th. Four research analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. Hawaiian Electric Industries has an average rating of “Sell” and a consensus target price of $31.50.

Shares of Hawaiian Electric Industries (NYSE:HE) opened at 35.73 on Tuesday. The firm has a market capitalization of $3.89 billion, a P/E ratio of 15.91 and a beta of 0.47. Hawaiian Electric Industries has a one year low of $28.43 and a one year high of $35.78. The firm has a 50-day moving average of $34.01 and a 200-day moving average of $33.31.

Hawaiian Electric Industries (NYSE:HE) last posted its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.03). The firm had revenue of $556.90 million during the quarter, compared to the consensus estimate of $568.00 million. Hawaiian Electric Industries had a net margin of 9.91% and a return on equity of 8.83%. Hawaiian Electric Industries’s revenue was up 12.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.43 EPS. On average, equities analysts predict that Hawaiian Electric Industries will post $1.63 earnings per share for the current fiscal year.

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Several large investors have recently added to or reduced their stakes in the company. Fox Run Management L.L.C. bought a new position in shares of Hawaiian Electric Industries during the 3rd quarter valued at about $294,000. Verition Fund Management LLC lifted its holdings in shares of Hawaiian Electric Industries by 128.9% during the 2nd quarter. Verition Fund Management LLC now owns 35,068 shares of the utilities provider’s stock valued at $1,136,000 after purchasing an additional 19,750 shares in the last quarter. Ameritas Investment Partners Inc. lifted its holdings in shares of Hawaiian Electric Industries by 1.5% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 32,544 shares of the utilities provider’s stock valued at $1,054,000 after purchasing an additional 488 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Hawaiian Electric Industries by 0.7% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 10,146 shares of the utilities provider’s stock valued at $329,000 after purchasing an additional 70 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Hawaiian Electric Industries by 1.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 159,595 shares of the utilities provider’s stock valued at $5,168,000 after purchasing an additional 2,642 shares in the last quarter. Institutional investors and hedge funds own 48.83% of the company’s stock.

About Hawaiian Electric Industries

Hawaiian Electric Industries, Inc is a holding company with its principal subsidiaries engaged in electric utility and banking businesses operating primarily in the State of Hawaii. The Company’s subsidiaries include Hawaiian Electric Company, Inc (Hawaiian Electric) and ASB Hawaii, Inc (ASB Hawaii).

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