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

StockNews.com upgraded shares of Hawaiian Electric Industries (NYSE:HE - Free Report) from a sell rating to a hold rating in a report released on Thursday morning.

Several other research firms also recently issued reports on HE. Jefferies Financial Group assumed coverage on shares of Hawaiian Electric Industries in a research note on Tuesday, December 3rd. They set a "hold" rating and a $11.50 price target on the stock. Wells Fargo & Company dropped their price objective on Hawaiian Electric Industries from $14.00 to $11.50 and set an "equal weight" rating on the stock in a report on Monday, September 30th. Finally, Evercore ISI dropped their price target on shares of Hawaiian Electric Industries from $11.00 to $10.00 and set an "in-line" rating for the company in a research note on Tuesday, November 19th.

Hawaiian Electric Industries Stock Up 0.5 %

Shares of Hawaiian Electric Industries stock traded up $0.05 during trading hours on Thursday, hitting $9.91. The company had a trading volume of 2,469,428 shares, compared to its average volume of 3,347,296. The company's 50-day moving average is $10.22 and its two-hundred day moving average is $11.07. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.18 and a quick ratio of 0.18. Hawaiian Electric Industries has a twelve month low of $7.61 and a twelve month high of $18.19. The company has a market cap of $1.71 billion, a P/E ratio of -0.84 and a beta of 0.53.

Hawaiian Electric Industries (NYSE:HE - Get Free Report) last announced its quarterly earnings data on Friday, November 8th. The utilities provider reported $0.46 earnings per share for the quarter, missing analysts' consensus estimates of $0.53 by ($0.07). The business had revenue of $983.38 million during the quarter. Hawaiian Electric Industries had a negative net margin of 35.38% and a positive return on equity of 11.12%. The company's quarterly revenue was up 9.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.37 earnings per share. Analysts anticipate that Hawaiian Electric Industries will post 1.71 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Hawaiian Electric Industries

Institutional investors have recently bought and sold shares of the business. Zimmer Partners LP bought a new stake in shares of Hawaiian Electric Industries during the 3rd quarter worth $145,200,000. FMR LLC grew its position in shares of Hawaiian Electric Industries by 7,986.3% in the third quarter. FMR LLC now owns 5,340,679 shares of the utilities provider's stock valued at $51,698,000 after purchasing an additional 5,274,633 shares during the last quarter. Franklin Resources Inc. increased its stake in shares of Hawaiian Electric Industries by 656.7% in the third quarter. Franklin Resources Inc. now owns 2,722,668 shares of the utilities provider's stock worth $27,499,000 after purchasing an additional 2,362,863 shares during the period. AQR Capital Management LLC lifted its position in shares of Hawaiian Electric Industries by 52.8% during the 2nd quarter. AQR Capital Management LLC now owns 6,693,424 shares of the utilities provider's stock worth $60,308,000 after purchasing an additional 2,312,950 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in Hawaiian Electric Industries by 49.3% during the 3rd quarter. Geode Capital Management LLC now owns 3,793,142 shares of the utilities provider's stock valued at $36,725,000 after purchasing an additional 1,253,143 shares during the period. 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.