Hawaiian Electric Industries (NYSE:HE) Stock Rating Upgraded by Jefferies Financial Group

Hawaiian Electric Industries (NYSE:HE) was upgraded by equities researchers at Jefferies Financial Group to a “moderate sell” rating in a research note issued on Thursday, Zacks reports.

Several other brokerages also recently issued reports on HE. Weiss Ratings upgraded shares of Hawaiian Electric Industries from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, August 11th. Barclays decreased their target price on Hawaiian Electric Industries from $13.00 to $12.00 and set an “equal weight” rating on the stock in a research report on Tuesday, August 11th. Zacks Research lowered Hawaiian Electric Industries from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 11th. Finally, LADENBURG THALM/SH SH initiated coverage on Hawaiian Electric Industries in a report on Tuesday, September 8th. They set a “sell” rating and a $7.00 price target for the company. Two equities research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, Hawaiian Electric Industries presently has an average rating of “Strong Sell” and a consensus target price of $9.25.

Hawaiian Electric Industries Price Performance

NYSE:HE opened at $9.80 on Thursday. Hawaiian Electric Industries has a one year low of $9.79 and a one year high of $17.38. The company has a market cap of $1.69 billion, a P/E ratio of 7.54 and a beta of 0.48. The firm’s fifty day moving average price is $11.94 and its two-hundred day moving average price is $13.48. The company has a debt-to-equity ratio of 1.57, a current ratio of 0.99 and a quick ratio of 0.99.

Hawaiian Electric Industries (NYSE:HE) last posted its earnings results on Friday, August 7th. The utilities provider reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.08). The company had revenue of $939.70 million for the quarter, compared to analyst estimates of $939.70 million. Hawaiian Electric Industries had a return on equity of 7.90% and a net margin of 6.89%.During the same quarter in the prior year, the business posted $0.15 EPS. Equities analysts expect that Hawaiian Electric Industries will post 0.8 earnings per share for the current year.

Institutional Trading of Hawaiian Electric Industries

Hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. bought a new stake in Hawaiian Electric Industries in the 2nd quarter valued at about $358,318,000. Horizon Kinetics Asset Management LLC increased its holdings in shares of Hawaiian Electric Industries by 6.2% during the fourth quarter. Horizon Kinetics Asset Management LLC now owns 19,392,363 shares of the utilities provider’s stock worth $238,526,000 after purchasing an additional 1,134,646 shares during the period. Quantinno Capital Management LP raised its position in shares of Hawaiian Electric Industries by 8.3% in the first quarter. Quantinno Capital Management LP now owns 3,512,517 shares of the utilities provider’s stock valued at $52,126,000 after buying an additional 270,546 shares in the last quarter. Bank of America Corp DE raised its position in shares of Hawaiian Electric Industries by 111.6% in the first quarter. Bank of America Corp DE now owns 2,734,135 shares of the utilities provider’s stock valued at $40,575,000 after buying an additional 1,442,031 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Hawaiian Electric Industries by 15.9% in the first quarter. Dimensional Fund Advisors LP now owns 2,563,708 shares of the utilities provider’s stock valued at $38,045,000 after buying an additional 351,602 shares during the period. Institutional investors and hedge funds own 59.91% of the company’s stock.

Hawaiian Electric Industries Company Profile

Hawaiian Electric Industries, Inc (NYSE: HE) is a Hawaii-based holding company whose principal businesses are electric utility operations and banking. Through its utility subsidiaries, the company generates, purchases, transmits and distributes electricity to residential, commercial and industrial customers across the Hawaiian Islands.

Hawaiian Electric Company serves Oahu, while Maui Electric Company provides service on Maui, Molokai and Lanai. Hawaii Electric Light serves customers on the island of Hawaii.