Hawaiian Electric Industries, Inc. (NYSE:HE) Given Consensus Rating of “Hold” by Analysts

Hawaiian Electric Industries, Inc. (NYSE:HE) has earned an average rating of “Hold” from the five research firms that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $12.1250.

A number of equities analysts have commented on HE shares. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Hawaiian Electric Industries in a research note on Monday, December 29th. Jefferies Financial Group restated a “hold” rating on shares of Hawaiian Electric Industries in a report on Friday, December 19th.

Hawaiian Electric Industries Stock Performance

Hawaiian Electric Industries stock opened at $14.76 on Friday. The firm has a fifty day simple moving average of $11.92 and a two-hundred day simple moving average of $11.57. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.79. Hawaiian Electric Industries has a twelve month low of $8.14 and a twelve month high of $15.05. The company has a market capitalization of $2.55 billion, a PE ratio of 184.46 and a beta of 0.64.

Hawaiian Electric Industries (NYSE:HE) last announced its quarterly earnings data on Friday, November 7th. The utilities provider reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.39. Hawaiian Electric Industries had a return on equity of 9.51% and a net margin of 0.56%.The firm had revenue of $790.61 million for the quarter. Research analysts expect that Hawaiian Electric Industries will post 1.71 EPS for the current year.

Hedge Funds Weigh In On Hawaiian Electric Industries

Several hedge funds and other institutional investors have recently modified their holdings of the company. Horizon Kinetics Asset Management LLC grew its stake in shares of Hawaiian Electric Industries by 28.6% in the second quarter. Horizon Kinetics Asset Management LLC now owns 16,281,709 shares of the utilities provider’s stock worth $173,075,000 after purchasing an additional 3,624,709 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Hawaiian Electric Industries by 153.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,243,332 shares of the utilities provider’s stock worth $13,726,000 after buying an additional 753,549 shares during the last quarter. Assenagon Asset Management S.A. grew its position in shares of Hawaiian Electric Industries by 180.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 878,253 shares of the utilities provider’s stock worth $9,696,000 after buying an additional 565,218 shares during the last quarter. CSM Advisors LLC purchased a new position in shares of Hawaiian Electric Industries during the second quarter valued at approximately $5,440,000. Finally, Quantinno Capital Management LP raised its holdings in shares of Hawaiian Electric Industries by 56.0% during the second quarter. Quantinno Capital Management LP now owns 1,324,999 shares of the utilities provider’s stock valued at $14,085,000 after acquiring an additional 475,443 shares in the last quarter. 59.91% of the stock is owned by 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.