Hawaiian Electric Industries, Inc. (NYSE:HE) Given Average Rating of “Hold” by Analysts

Hawaiian Electric Industries, Inc. (NYSE:HE) has been given a consensus recommendation of “Hold” by the five ratings firms that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $12.1250.

Several research analysts have issued reports on the company. Jefferies Financial Group cut their price target on Hawaiian Electric Industries from $12.25 to $12.00 and set a “hold” rating on the stock in a report on Wednesday, December 3rd. Weiss Ratings reiterated a “sell (d)” rating on shares of Hawaiian Electric Industries in a report on Monday.

Hawaiian Electric Industries Trading Down 0.5%

NYSE:HE opened at $11.83 on Wednesday. Hawaiian Electric Industries has a 12 month low of $8.14 and a 12 month high of $13.41. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.79. The stock has a market capitalization of $2.04 billion, a price-to-earnings ratio of 147.83 and a beta of 0.64. The firm has a fifty day simple moving average of $11.55 and a two-hundred day simple moving average of $11.32.

Hawaiian Electric Industries (NYSE:HE) last announced its quarterly earnings data on Friday, November 7th. The utilities provider reported $0.19 earnings per share for the quarter, beating the consensus estimate of ($0.20) by $0.39. The firm had revenue of $790.61 million for the quarter. Hawaiian Electric Industries had a net margin of 0.56% and a return on equity of 9.51%. Analysts expect that Hawaiian Electric Industries will post 1.71 EPS for the current fiscal year.

Institutional Investors Weigh In On Hawaiian Electric Industries

Several hedge funds and other institutional investors have recently made changes to their positions in HE. Federated Hermes Inc. lifted its holdings in Hawaiian Electric Industries by 1.3% in the 2nd quarter. Federated Hermes Inc. now owns 72,891 shares of the utilities provider’s stock worth $775,000 after buying an additional 910 shares during the period. Teacher Retirement System of Texas raised its holdings in shares of Hawaiian Electric Industries by 4.0% during the second quarter. Teacher Retirement System of Texas now owns 26,142 shares of the utilities provider’s stock valued at $278,000 after acquiring an additional 1,005 shares in the last quarter. Byrne Asset Management LLC lifted its stake in Hawaiian Electric Industries by 28.1% in the second quarter. Byrne Asset Management LLC now owns 4,981 shares of the utilities provider’s stock worth $53,000 after acquiring an additional 1,094 shares during the period. Farther Finance Advisors LLC boosted its holdings in Hawaiian Electric Industries by 37.5% in the third quarter. Farther Finance Advisors LLC now owns 4,125 shares of the utilities provider’s stock valued at $46,000 after acquiring an additional 1,125 shares in the last quarter. Finally, Panagora Asset Management Inc. increased its position in Hawaiian Electric Industries by 0.5% during the 2nd quarter. Panagora Asset Management Inc. now owns 212,400 shares of the utilities provider’s stock valued at $2,258,000 after purchasing an additional 1,132 shares during the period. 59.91% of the stock is 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.