Hawaiian Electric Industries (NYSE:HE) Upgraded by Zacks Research to Strong-Buy Rating

Zacks Research upgraded shares of Hawaiian Electric Industries (NYSE:HE) from a hold rating to a strong-buy rating in a report released on Tuesday morning,Zacks.com reports.

HE has been the topic of several other research reports. Weiss Ratings upgraded shares of Hawaiian Electric Industries from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, March 2nd. Wall Street Zen upgraded shares of Hawaiian Electric Industries from a “hold” rating to a “buy” rating in a report on Saturday, March 7th. Barclays upped their price objective on shares of Hawaiian Electric Industries from $13.00 to $14.00 and gave the stock an “equal weight” rating in a report on Monday, March 2nd. Finally, Jefferies Financial Group downgraded shares of Hawaiian Electric Industries from a “hold” rating to an “underperform” rating and lowered their price objective for the stock from $13.50 to $12.50 in a report on Tuesday, January 20th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $13.25.

Hawaiian Electric Industries Stock Performance

HE opened at $15.52 on Tuesday. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 1.74. The company’s fifty day moving average price is $15.50 and its two-hundred day moving average price is $13.30. Hawaiian Electric Industries has a 1-year low of $9.06 and a 1-year high of $17.38. The company has a market cap of $2.68 billion, a price-to-earnings ratio of 21.86 and a beta of 0.55.

Hawaiian Electric Industries (NYSE:HE) last released its quarterly earnings data 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 net margin of 4.09% and a return on equity of 9.82%. The firm had revenue of $805.82 million for the quarter. On average, analysts expect that Hawaiian Electric Industries will post 1.71 EPS for the current fiscal year.

Institutional Trading of Hawaiian Electric Industries

Several institutional investors and hedge funds have recently made changes to their positions in HE. Y Intercept Hong Kong Ltd grew its position in Hawaiian Electric Industries by 72.9% during the third quarter. Y Intercept Hong Kong Ltd now owns 204,200 shares of the utilities provider’s stock valued at $2,254,000 after buying an additional 86,117 shares during the period. Inspire Advisors LLC bought a new position in Hawaiian Electric Industries during the third quarter valued at about $1,000,000. Wealth Enhancement Advisory Services LLC bought a new position in Hawaiian Electric Industries during the third quarter valued at about $344,000. Assenagon Asset Management S.A. grew its position in Hawaiian Electric Industries by 180.6% during the third quarter. Assenagon Asset Management S.A. now owns 878,253 shares of the utilities provider’s stock valued at $9,696,000 after buying an additional 565,218 shares during the period. Finally, Caprock Group LLC bought a new position in Hawaiian Electric Industries during the third quarter valued at about $1,332,000. Hedge funds and other institutional investors own 59.91% of the company’s stock.

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.