Hawaiian Electric Industries (NYSE:HE) Upgraded by Wall Street Zen to “Buy” Rating

Wall Street Zen upgraded shares of Hawaiian Electric Industries (NYSE:HE) from a hold rating to a buy rating in a research report released on Saturday.

A number of other equities analysts have also recently commented on the stock. Jefferies Financial Group cut shares of Hawaiian Electric Industries from a “hold” rating to an “underperform” rating and cut their price target for the stock from $13.50 to $12.50 in a research note on Tuesday, January 20th. Weiss Ratings upgraded Hawaiian Electric Industries from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, March 2nd. Zacks Research raised Hawaiian Electric Industries to a “hold” rating in a report on Monday, February 9th. Finally, Barclays boosted their target price on Hawaiian Electric Industries from $13.00 to $14.00 and gave the stock an “equal weight” rating in a research report on Monday, March 2nd. Three equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Hawaiian Electric Industries presently has an average rating of “Reduce” and a consensus target price of $13.25.

Hawaiian Electric Industries Price Performance

Shares of NYSE HE opened at $14.92 on Friday. The stock’s 50-day simple moving average is $15.08 and its two-hundred day simple moving average is $12.88. Hawaiian Electric Industries has a twelve month low of $9.06 and a twelve month high of $17.38. The firm has a market capitalization of $2.58 billion, a P/E ratio of 21.01 and a beta of 0.62. The company has a quick ratio of 1.35, a current ratio of 1.32 and a debt-to-equity ratio of 1.74.

Hawaiian Electric Industries (NYSE:HE) last issued its quarterly earnings results on Friday, February 27th. The utilities provider reported $0.24 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.24. The firm had revenue of $805.82 million during the quarter. Hawaiian Electric Industries had a return on equity of 9.82% and a net margin of 4.09%. As a group, equities analysts anticipate that Hawaiian Electric Industries will post 1.71 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in HE. Vanguard Group Inc. raised its holdings in Hawaiian Electric Industries by 9.2% during the 4th quarter. Vanguard Group Inc. now owns 19,410,325 shares of the utilities provider’s stock valued at $238,747,000 after buying an additional 1,628,307 shares during the last quarter. Horizon Kinetics Asset Management LLC grew its holdings in Hawaiian Electric Industries by 6.2% in the 4th quarter. Horizon Kinetics Asset Management LLC now owns 19,392,363 shares of the utilities provider’s stock worth $238,526,000 after acquiring an additional 1,134,646 shares during the last quarter. State Street Corp increased its position in shares of Hawaiian Electric Industries by 56.9% in the fourth quarter. State Street Corp now owns 7,005,768 shares of the utilities provider’s stock valued at $86,171,000 after acquiring an additional 2,540,134 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Hawaiian Electric Industries by 5.3% during the fourth quarter. Geode Capital Management LLC now owns 4,125,284 shares of the utilities provider’s stock worth $50,750,000 after purchasing an additional 209,192 shares during the period. Finally, Franklin Resources Inc. boosted its holdings in shares of Hawaiian Electric Industries by 1.3% during the second quarter. Franklin Resources Inc. now owns 2,744,843 shares of the utilities provider’s stock worth $29,178,000 after purchasing an additional 34,535 shares during the period. Institutional investors own 59.91% of the company’s stock.

Hawaiian Electric Industries Company Profile

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.