Hawaiian Electric Industries, Inc. (NYSE:HE) Receives Consensus Recommendation of “Hold” from Brokerages

Hawaiian Electric Industries, Inc. (NYSE:HE) has earned an average rating of “Hold” from the five ratings firms that are currently covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $13.1667.

A number of equities analysts have weighed in on HE shares. Weiss Ratings restated a “sell (d)” rating on shares of Hawaiian Electric Industries in a research report on Monday, December 29th. Barclays boosted their target price on shares of Hawaiian Electric Industries from $11.00 to $13.00 and gave the stock a “positive” rating in a research note on Monday, January 26th. Zacks Research raised shares of Hawaiian Electric Industries to a “hold” rating in a research note on Monday, February 9th. Finally, Jefferies Financial Group lowered Hawaiian Electric Industries from a “hold” rating to an “underperform” rating and cut their price objective for the stock from $13.50 to $12.50 in a research note on Tuesday, January 20th.

Hawaiian Electric Industries Price Performance

Shares of Hawaiian Electric Industries stock opened at $15.45 on Monday. The firm has a market cap of $2.67 billion, a PE ratio of 21.76 and a beta of 0.62. The business has a 50-day moving average price of $14.69 and a 200 day moving average price of $12.74. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.79. Hawaiian Electric Industries has a twelve month low of $9.06 and a twelve month high of $17.38.

Hawaiian Electric Industries (NYSE:HE) last announced its earnings results on Friday, February 27th. The utilities provider reported $0.24 earnings per share for the quarter, hitting the consensus estimate of $0.24. Hawaiian Electric Industries had a return on equity of 9.93% and a net margin of 4.09%.The business had revenue of $805.82 million during the quarter. Sell-side analysts predict that Hawaiian Electric Industries will post 1.71 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Navalign LLC acquired a new stake in Hawaiian Electric Industries during the 4th quarter worth $25,000. Caitong International Asset Management Co. Ltd raised its position in shares of Hawaiian Electric Industries by 199,800.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,999 shares of the utilities provider’s stock valued at $25,000 after buying an additional 1,998 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Hawaiian Electric Industries by 142.2% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 2,325 shares of the utilities provider’s stock worth $26,000 after buying an additional 1,365 shares in the last quarter. Larson Financial Group LLC boosted its position in Hawaiian Electric Industries by 242.2% during the third quarter. Larson Financial Group LLC now owns 2,741 shares of the utilities provider’s stock worth $30,000 after acquiring an additional 1,940 shares during the last quarter. Finally, Tucker Asset Management LLC acquired a new position in Hawaiian Electric Industries during the fourth quarter worth about $32,000. 59.91% of the stock is owned by institutional investors and hedge funds.

About Hawaiian Electric Industries

Hawaiian Electric Industries, Inc is a diversified holding company operating in the energy and financial services sectors in the state of Hawaii. Its principal subsidiary, Hawaiian Electric Company, provides generation, transmission, distribution and customer service to the island of Oahu, while its Maui Electric and Hawaii Electric Light Company subsidiaries serve Maui, Molokai, Lanai and Hawaii Island. The roots of the electric utility business trace back to 1891 when service first commenced in Honolulu.

Through its subsidiary Hawaii Gas, HEI extends its energy portfolio to include the distribution of natural gas and propane, supporting residential, commercial and industrial customers across the islands.