Zacks Investment Research upgraded shares of Hawaiian Electric Industries (NYSE:HE) from a sell rating to a hold rating in a research report sent to investors on Tuesday.

According to Zacks, “Hawaiian Electric remains the largest provider of electricity in the state of Hawaii, supplying power to more than 95% of the state’s population. Again, its focus on growing its renewable assets and systematic investments in transmission and distribution projects will drive growth over the long haul. Thye company also outperformed the broader industry in the last year. However, any disruption in fuel supplies is likely to affect Hawaiian Electric’s ability to generate power, which in turn might impact its profit margins. Moreover, elevating fuel oil price expense has earlier pushed up the company’s total expenses and in turn affected its operating profit rate.”

A number of other equities analysts also recently commented on the company. Bank of America assumed coverage on Hawaiian Electric Industries in a research report on Tuesday, October 24th. They set an underperform rating and a $34.00 price objective on the stock. 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 research note on Thursday, October 12th. Finally, BidaskClub raised Hawaiian Electric Industries from a sell rating to a hold rating in a research note on Saturday, August 26th. Three research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. The stock presently has an average rating of Hold and a consensus target price of $32.33.

Shares of Hawaiian Electric Industries (HE) opened at $36.93 on Tuesday. Hawaiian Electric Industries has a 12-month low of $31.71 and a 12-month high of $38.72. The firm has a market cap of $3,993.53, a PE ratio of 22.52, a PEG ratio of 5.27 and a beta of 0.50. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.77.

Hawaiian Electric Industries (NYSE:HE) last announced its quarterly earnings data on Thursday, November 2nd. The utilities provider reported $0.55 EPS for the quarter, missing the Zacks’ consensus estimate of $0.57 by ($0.02). Hawaiian Electric Industries had a return on equity of 8.64% and a net margin of 7.14%. The company had revenue of $673.19 million for the quarter, compared to analysts’ expectations of $648.93 million. During the same quarter in the previous year, the business posted $0.58 EPS. The business’s quarterly revenue was up 4.2% compared to the same quarter last year. analysts anticipate that Hawaiian Electric Industries will post 1.64 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 12th. Shareholders of record on Wednesday, November 22nd were paid a dividend of $0.31 per share. The ex-dividend date of this dividend was Tuesday, November 21st. This represents a $1.24 annualized dividend and a yield of 3.36%. Hawaiian Electric Industries’s dividend payout ratio (DPR) is 76.07%.

In other Hawaiian Electric Industries news, Director Thomas B. Fargo sold 5,500 shares of the firm’s stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $36.46, for a total transaction of $200,530.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.90% of the stock is owned by company insiders.

Hedge funds have recently bought and sold shares of the business. FUKOKU MUTUAL LIFE INSURANCE Co acquired a new stake in Hawaiian Electric Industries during the second quarter worth $123,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Hawaiian Electric Industries by 8.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,859 shares of the utilities provider’s stock worth $125,000 after acquiring an additional 297 shares during the last quarter. Ffcm LLC increased its stake in Hawaiian Electric Industries by 121.0% during the second quarter. Ffcm LLC now owns 4,826 shares of the utilities provider’s stock worth $157,000 after acquiring an additional 2,642 shares during the last quarter. TLP Group LLC grew its stake in shares of Hawaiian Electric Industries by 818.4% in the second quarter. TLP Group LLC now owns 5,391 shares of the utilities provider’s stock valued at $175,000 after buying an additional 4,804 shares in the last quarter. Finally, Cornerstone Capital Management Holdings LLC. acquired a new stake in shares of Hawaiian Electric Industries in the second quarter valued at $201,000. 49.26% of the stock is owned by institutional investors.

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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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