Hawaiian Electric Industries (NYSE:HE) Upgraded by Evercore ISI to Outperform Rating

Hawaiian Electric Industries (NYSE:HE - Get Free Report) was upgraded by research analysts at Evercore ISI from an "in-line" rating to an "outperform" rating in a note issued to investors on Friday, MarketBeat.com reports. The brokerage currently has a $14.00 price target on the utilities provider's stock, up from their previous price target of $12.00. Evercore ISI's price objective points to a potential upside of 21.94% from the company's previous close.

Other equities analysts have also recently issued research reports about the company. Wells Fargo & Company raised their price target on Hawaiian Electric Industries from $11.00 to $12.50 and gave the company an "equal weight" rating in a report on Thursday, February 27th. Jefferies Financial Group cut their target price on Hawaiian Electric Industries from $11.50 to $10.50 and set a "hold" rating on the stock in a research report on Friday, January 3rd. Barclays boosted their target price on Hawaiian Electric Industries from $10.00 to $11.00 and gave the company an "equal weight" rating in a research report on Tuesday. Finally, StockNews.com downgraded Hawaiian Electric Industries from a "hold" rating to a "sell" rating in a research report on Tuesday, February 11th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, Hawaiian Electric Industries has an average rating of "Hold" and an average target price of $12.00.

Remove Ads

Hawaiian Electric Industries Price Performance

NYSE HE traded up $1.08 during trading on Friday, hitting $11.48. 7,960,931 shares of the stock traded hands, compared to its average volume of 3,321,534. The company has a market capitalization of $1.98 billion, a P/E ratio of -0.97 and a beta of 0.46. The firm has a 50-day simple moving average of $9.74 and a 200-day simple moving average of $10.18. The company has a quick ratio of 0.18, a current ratio of 0.18 and a debt-to-equity ratio of 1.80. Hawaiian Electric Industries has a 12-month low of $7.61 and a 12-month high of $18.19.

Hawaiian Electric Industries (NYSE:HE - Get Free Report) last released its quarterly earnings results on Friday, February 21st. The utilities provider reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.19). The firm had revenue of $799.18 million for the quarter. Hawaiian Electric Industries had a negative net margin of 35.38% and a positive return on equity of 11.12%. As a group, analysts predict that Hawaiian Electric Industries will post 1.71 EPS for the current year.

Hedge Funds Weigh In On Hawaiian Electric Industries

Large investors have recently modified their holdings of the stock. Menard Financial Group LLC bought a new position in Hawaiian Electric Industries in the 4th quarter valued at $76,000. Jefferies Financial Group Inc. bought a new position in Hawaiian Electric Industries in the 4th quarter valued at $5,680,000. PharVision Advisers LLC bought a new position in Hawaiian Electric Industries in the 4th quarter valued at $266,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Hawaiian Electric Industries by 32.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 359,045 shares of the utilities provider's stock valued at $3,494,000 after acquiring an additional 88,686 shares during the last quarter. Finally, Voloridge Investment Management LLC grew its position in Hawaiian Electric Industries by 22.6% in the 4th quarter. Voloridge Investment Management LLC now owns 2,398,817 shares of the utilities provider's stock valued at $23,340,000 after acquiring an additional 442,504 shares during the last quarter. Institutional investors own 59.91% of the company's stock.

About Hawaiian Electric Industries

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.