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

Hawaiian Electric Industries (NYSE:HE - Get Free Report) was upgraded by equities research analysts at StockNews.com from a "sell" rating to a "hold" rating in a report released on Saturday.

HE has been the topic of several other research reports. Jefferies Financial Group cut their price target on shares of Hawaiian Electric Industries from $11.50 to $10.50 and set a "hold" rating on the stock in a report on Friday, January 3rd. Wells Fargo & Company cut their price objective on shares of Hawaiian Electric Industries from $14.00 to $11.50 and set an "equal weight" rating on the stock in a research note on Monday, September 30th. Finally, Evercore ISI decreased their target price on shares of Hawaiian Electric Industries from $11.00 to $10.00 and set an "in-line" rating for the company in a research report on Tuesday, November 19th.

Hawaiian Electric Industries Stock Down 7.9 %

Shares of Hawaiian Electric Industries stock traded down $0.70 on Friday, reaching $8.21. The stock had a trading volume of 5,136,863 shares, compared to its average volume of 3,473,076. Hawaiian Electric Industries has a 1 year low of $7.61 and a 1 year high of $18.19. The company has a 50 day moving average price of $10.06 and a 200 day moving average price of $11.05. The company has a quick ratio of 0.18, a current ratio of 0.18 and a debt-to-equity ratio of 1.80. The stock has a market capitalization of $1.42 billion, a P/E ratio of -0.69 and a beta of 0.53.

Hawaiian Electric Industries (NYSE:HE - Get Free Report) last issued its quarterly earnings results on Friday, November 8th. The utilities provider reported $0.46 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.53 by ($0.07). The business had revenue of $983.38 million for the quarter. Hawaiian Electric Industries had a positive return on equity of 11.12% and a negative net margin of 35.38%. The company's quarterly revenue was up 9.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.37 earnings per share. As a group, equities research analysts forecast that Hawaiian Electric Industries will post 1.71 EPS for the current year.

Hedge Funds Weigh In On Hawaiian Electric Industries

Several large investors have recently made changes to their positions in the company. Zimmer Partners LP purchased a new stake in shares of Hawaiian Electric Industries in the third quarter valued at approximately $145,200,000. FMR LLC grew its stake in Hawaiian Electric Industries by 7,986.3% in the 3rd quarter. FMR LLC now owns 5,340,679 shares of the utilities provider's stock valued at $51,698,000 after acquiring an additional 5,274,633 shares during the period. Franklin Resources Inc. increased its holdings in Hawaiian Electric Industries by 656.7% in the 3rd quarter. Franklin Resources Inc. now owns 2,722,668 shares of the utilities provider's stock worth $27,499,000 after acquiring an additional 2,362,863 shares in the last quarter. AQR Capital Management LLC raised its position in Hawaiian Electric Industries by 52.8% during the second quarter. AQR Capital Management LLC now owns 6,693,424 shares of the utilities provider's stock worth $60,308,000 after acquiring an additional 2,312,950 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in Hawaiian Electric Industries by 49.3% during the third 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 in the last quarter. 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.