Hawaiian Electric Industries (NYSE:HE) Stock Rating Upgraded by StockNews.com

Hawaiian Electric Industries (NYSE:HE) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Monday.

Separately, Evercore ISI upped their price objective on shares of Hawaiian Electric Industries from $7.00 to $11.00 and gave the stock an “in-line” rating in a research report on Thursday, February 15th. Two equities research analysts have rated the stock with a sell rating and two have given a hold rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $11.50.

Hawaiian Electric Industries Stock Performance

Shares of HE traded down $0.02 during mid-day trading on Monday, reaching $10.67. The company’s stock had a trading volume of 1,369,219 shares, compared to its average volume of 2,233,796. Hawaiian Electric Industries has a 1-year low of $9.06 and a 1-year high of $40.16. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 1.21. The business has a 50-day simple moving average of $11.85 and a two-hundred day simple moving average of $12.73. The stock has a market cap of $1.18 billion, a P/E ratio of 5.89 and a beta of 0.53.

Hawaiian Electric Industries (NYSE:HE) last issued its quarterly earnings results on Tuesday, February 13th. The utilities provider reported $0.48 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.48. Hawaiian Electric Industries had a return on equity of 9.99% and a net margin of 5.45%. The business had revenue of $961.40 million during the quarter. During the same quarter last year, the firm posted $0.52 earnings per share. The company’s quarterly revenue was down 5.7% on a year-over-year basis. As a group, equities research analysts anticipate that Hawaiian Electric Industries will post 1.98 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. UMB Bank n.a. bought a new position in Hawaiian Electric Industries in the 3rd quarter valued at approximately $27,000. Gladius Capital Management LP increased its position in Hawaiian Electric Industries by 686.9% in the 4th quarter. Gladius Capital Management LP now owns 2,109 shares of the utilities provider’s stock valued at $30,000 after acquiring an additional 1,841 shares during the period. Lazard Asset Management LLC acquired a new position in Hawaiian Electric Industries in the 2nd quarter valued at approximately $34,000. Newbridge Financial Services Group Inc. bought a new position in shares of Hawaiian Electric Industries during the third quarter valued at $35,000. Finally, Perkins Coie Trust Co acquired a new position in shares of Hawaiian Electric Industries during the third quarter worth $36,000. 59.91% of the stock is currently owned by institutional investors and hedge funds.

Hawaiian Electric Industries Company Profile

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.