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

Hawaiian Electric Industries (NYSE:HE) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday.

Separately, Wells Fargo & Company lifted their price objective on Hawaiian Electric Industries from $8.50 to $9.00 and gave the company an “underweight” rating in a report on Monday, May 13th. Two analysts have rated the stock with a sell rating and two have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $11.63.

Hawaiian Electric Industries Stock Down 0.2 %

Shares of HE opened at $8.49 on Tuesday. The firm has a market capitalization of $936.45 million, a P/E ratio of 5.02 and a beta of 0.58. Hawaiian Electric Industries has a 12-month low of $8.04 and a 12-month high of $40.16. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 1.19. The firm has a fifty day moving average price of $10.13 and a 200-day moving average price of $11.66.

Hawaiian Electric Industries (NYSE:HE) last released its quarterly earnings data on Friday, May 10th. The utilities provider reported $0.45 earnings per share for the quarter. The firm had revenue of $897.16 million during the quarter. Hawaiian Electric Industries had a return on equity of 9.58% and a net margin of 5.16%.

Hedge Funds Weigh In On Hawaiian Electric Industries

A number of large investors have recently added to or reduced their stakes in the company. Gladius Capital Management LP increased its holdings in shares of Hawaiian Electric Industries by 686.9% during the fourth quarter. Gladius Capital Management LP now owns 2,109 shares of the utilities provider’s stock valued at $30,000 after acquiring an additional 1,841 shares in the last quarter. New Covenant Trust Company N.A. acquired a new position in shares of Hawaiian Electric Industries during the first quarter valued at about $32,000. Abich Financial Wealth Management LLC increased its holdings in shares of Hawaiian Electric Industries by 54.4% during the first quarter. Abich Financial Wealth Management LLC now owns 3,226 shares of the utilities provider’s stock valued at $36,000 after acquiring an additional 1,137 shares in the last quarter. Fidelis Capital Partners LLC acquired a new position in shares of Hawaiian Electric Industries during the first quarter valued at about $42,000. Finally, Cape Investment Advisory Inc. acquired a new position in shares of Hawaiian Electric Industries during the fourth quarter valued at about $43,000. 59.91% of the stock is currently owned by institutional investors.

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.