Hawaiian Electric Industries (NYSE:HE) Upgraded at Zacks Research

Zacks Research upgraded shares of Hawaiian Electric Industries (NYSE:HE) from a hold rating to a strong-buy rating in a research report released on Tuesday,Zacks.com reports.

A number of other brokerages also recently issued reports on HE. Weiss Ratings raised Hawaiian Electric Industries from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, March 2nd. Barclays boosted their price objective on shares of Hawaiian Electric Industries from $13.00 to $14.00 and gave the company an “equal weight” rating in a report on Monday, March 2nd. Jefferies Financial Group lowered shares of Hawaiian Electric Industries from a “hold” rating to an “underperform” rating and lowered their price target for the company from $13.50 to $12.50 in a report on Tuesday, January 20th. Finally, Wall Street Zen raised shares of Hawaiian Electric Industries from a “hold” rating to a “buy” rating in a report on Saturday, March 7th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $13.25.

Hawaiian Electric Industries Stock Performance

Shares of NYSE:HE opened at $15.70 on Tuesday. The company has a market capitalization of $2.71 billion, a price-to-earnings ratio of 22.12 and a beta of 0.55. Hawaiian Electric Industries has a 52 week low of $9.16 and a 52 week high of $17.38. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 1.74. The firm has a 50 day moving average of $15.49 and a 200 day moving average of $13.32.

Hawaiian Electric Industries (NYSE:HE) last issued its quarterly earnings data on Friday, February 27th. The utilities provider reported $0.24 EPS for the quarter, hitting analysts’ consensus estimates of $0.24. The company had revenue of $805.82 million during the quarter. Hawaiian Electric Industries had a net margin of 4.09% and a return on equity of 9.82%. On average, sell-side analysts predict that Hawaiian Electric Industries will post 1.71 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Hawaiian Electric Industries

Hedge funds have recently modified their holdings of the company. Navalign LLC purchased a new stake in shares of Hawaiian Electric Industries during the 4th quarter worth about $25,000. Caitong International Asset Management Co. Ltd boosted its stake in shares of Hawaiian Electric Industries by 199,800.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,999 shares of the utilities provider’s stock worth $25,000 after acquiring an additional 1,998 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Hawaiian Electric Industries by 142.2% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 2,325 shares of the utilities provider’s stock worth $26,000 after acquiring an additional 1,365 shares in the last quarter. Larson Financial Group LLC boosted its stake in shares of Hawaiian Electric Industries by 242.2% during the 3rd quarter. Larson Financial Group LLC now owns 2,741 shares of the utilities provider’s stock worth $30,000 after acquiring an additional 1,940 shares in the last quarter. Finally, Tucker Asset Management LLC purchased a new stake in shares of Hawaiian Electric Industries during the 4th quarter worth about $32,000. 59.91% of the stock is owned by hedge funds and other institutional investors.

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.