Hawaiian Electric Industries (NYSE:HE) Upgraded to “Hold” at Zacks Research

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

A number of other research analysts also recently weighed in on HE. Jefferies Financial Group downgraded Hawaiian Electric Industries from a “hold” rating to an “underperform” rating and cut their price target for the company from $13.50 to $12.50 in a research note on Tuesday, January 20th. Weiss Ratings reiterated a “sell (d)” rating on shares of Hawaiian Electric Industries in a report on Monday, December 29th. Finally, Barclays increased their target price on Hawaiian Electric Industries from $11.00 to $13.00 and gave the company a “positive” rating in a research note on Monday, January 26th. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, Hawaiian Electric Industries has an average rating of “Hold” and a consensus price target of $13.00.

Hawaiian Electric Industries Stock Performance

Hawaiian Electric Industries stock opened at $16.74 on Monday. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.79. Hawaiian Electric Industries has a 1 year low of $9.06 and a 1 year high of $17.38. The company has a market cap of $2.89 billion, a PE ratio of 209.25 and a beta of 0.63. The company’s 50-day moving average is $13.57 and its two-hundred day moving average is $12.28.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Navalign LLC purchased a new stake in Hawaiian Electric Industries in the 4th quarter valued at $25,000. Northwestern Mutual Wealth Management Co. lifted its position in shares of Hawaiian Electric Industries by 142.2% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 2,325 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 1,365 shares in the last quarter. Larson Financial Group LLC boosted its holdings in Hawaiian Electric Industries by 242.2% during the third quarter. Larson Financial Group LLC now owns 2,741 shares of the utilities provider’s stock worth $30,000 after purchasing an additional 1,940 shares during the last quarter. Tucker Asset Management LLC bought a new stake in Hawaiian Electric Industries in the 4th quarter worth about $32,000. Finally, EverSource Wealth Advisors LLC grew its position in Hawaiian Electric Industries by 37.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,682 shares of the utilities provider’s stock worth $33,000 after purchasing an additional 737 shares in the last quarter. 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.