Hawaiian Electric Industries (NYSE:HE) Upgraded at Zacks Research

Hawaiian Electric Industries (NYSE:HE) was upgraded by investment analysts at Zacks Research to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Several other equities analysts have also weighed in on HE. Weiss Ratings restated a “sell (d)” rating on shares of Hawaiian Electric Industries in a research report on Monday, December 29th. Barclays raised their price target on shares of Hawaiian Electric Industries from $11.00 to $13.00 and gave the stock a “positive” rating in a research note on Monday, January 26th. Finally, Jefferies Financial Group downgraded Hawaiian Electric Industries from a “hold” rating to an “underperform” rating and dropped their price objective for the company from $13.50 to $12.50 in a research note on Tuesday, January 20th. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Hawaiian Electric Industries presently has a consensus rating of “Hold” and a consensus price target of $13.00.

Hawaiian Electric Industries Stock Down 0.4%

HE stock opened at $16.74 on Monday. The stock has a market cap of $2.89 billion, a P/E ratio of 209.25 and a beta of 0.63. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.79. The stock’s fifty day simple moving average is $13.57 and its two-hundred day simple moving average is $12.28. Hawaiian Electric Industries has a 1-year low of $9.06 and a 1-year high of $17.38.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Comerica Bank lifted its position in shares of Hawaiian Electric Industries by 45.0% during the first quarter. Comerica Bank now owns 6,075 shares of the utilities provider’s stock worth $67,000 after acquiring an additional 1,886 shares in the last quarter. Royal Bank of Canada raised its stake in shares of Hawaiian Electric Industries by 51.9% during the 1st quarter. Royal Bank of Canada now owns 379,888 shares of the utilities provider’s stock valued at $4,159,000 after purchasing an additional 129,819 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Hawaiian Electric Industries by 16.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 121,582 shares of the utilities provider’s stock worth $1,331,000 after purchasing an additional 17,158 shares in the last quarter. Empowered Funds LLC boosted its stake in Hawaiian Electric Industries by 12.9% in the 1st quarter. Empowered Funds LLC now owns 26,690 shares of the utilities provider’s stock worth $292,000 after purchasing an additional 3,060 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Hawaiian Electric Industries by 36.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 491,366 shares of the utilities provider’s stock worth $5,380,000 after buying an additional 132,321 shares in the last quarter. 59.91% of the stock is currently owned by hedge funds and other institutional investors.

About Hawaiian Electric Industries

Hawaiian Electric Industries, Inc is a diversified holding company operating in the energy and financial services sectors in the state of Hawaii. Its principal subsidiary, Hawaiian Electric Company, provides generation, transmission, distribution and customer service to the island of Oahu, while its Maui Electric and Hawaii Electric Light Company subsidiaries serve Maui, Molokai, Lanai and Hawaii Island. The roots of the electric utility business trace back to 1891 when service first commenced in Honolulu.

Through its subsidiary Hawaii Gas, HEI extends its energy portfolio to include the distribution of natural gas and propane, supporting residential, commercial and industrial customers across the islands.