Hawaiian Electric Industries (NYSE:HE) Upgraded at Jefferies Financial Group

Key Points

• Jefferies upgraded Hawaiian Electric Industries to “moderate sell,” while other analysts remain largely bearish. MarketBeat reports a consensus “strong sell” rating, with an average price target of $9.25.
• HE shares opened at $9.80, near their 12-month low of $9.79 and below the 50-day and 200-day moving averages of $11.94 and $13.48, respectively.
• The company reported quarterly EPS of $0.13, missing analyst expectations of $0.21, although revenue matched estimates at $939.7 million. Institutional investors own approximately 59.91% of the stock.

Hawaiian Electric Industries (NYSE:HE - Get Free Report) was upgraded by research analysts at Jefferies Financial Group to a "moderate sell" rating in a research note issued on Thursday, Zacks reports.

A number of other equities research analysts have also recently commented on HE. Barclays decreased their price objective on Hawaiian Electric Industries from $13.00 to $12.00 and set an "equal weight" rating for the company in a research note on Tuesday, August 11th. Zacks Research lowered shares of Hawaiian Electric Industries from a "hold" rating to a "strong sell" rating in a report on Tuesday, August 11th. LADENBURG THALM/SH SH assumed coverage on Hawaiian Electric Industries in a research note on Tuesday, September 8th. They issued a "sell" rating and a $7.00 target price on the stock. Finally, Weiss Ratings upgraded shares of Hawaiian Electric Industries from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Tuesday, August 11th. Two equities research analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Strong Sell" and an average price target of $9.25.

Hawaiian Electric Industries Price Performance

Shares of HE stock opened at $9.80 on Thursday. The stock has a 50-day moving average price of $11.94 and a 200 day moving average price of $13.48. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.57. The firm has a market cap of $1.69 billion, a price-to-earnings ratio of 7.54 and a beta of 0.48. Hawaiian Electric Industries has a 12 month low of $9.79 and a 12 month high of $17.38.

Hawaiian Electric Industries (NYSE:HE - Get Free Report) last released its earnings results on Friday, August 7th. The utilities provider reported $0.13 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.21 by ($0.08). The business had revenue of $939.70 million for the quarter, compared to analyst estimates of $939.70 million. Hawaiian Electric Industries had a net margin of 6.89% and a return on equity of 7.90%. During the same quarter in the previous year, the company posted $0.15 earnings per share. Research analysts expect that Hawaiian Electric Industries will post 0.8 EPS for the current year.

Institutional Investors Weigh In On Hawaiian Electric Industries

Institutional investors and hedge funds have recently modified their holdings of the company. Pecaut & CO. lifted its stake in Hawaiian Electric Industries by 3.3% in the 2nd quarter. Pecaut & CO. now owns 41,300 shares of the utilities provider's stock valued at $559,000 after purchasing an additional 1,300 shares during the last quarter. WINTON GROUP Ltd grew its holdings in Hawaiian Electric Industries by 2.0% during the second quarter. WINTON GROUP Ltd now owns 83,880 shares of the utilities provider's stock worth $1,135,000 after purchasing an additional 1,619 shares during the period. Integrated Wealth Concepts LLC acquired a new position in Hawaiian Electric Industries during the second quarter worth approximately $87,000. Nykredit A S acquired a new position in Hawaiian Electric Industries during the second quarter worth approximately $88,000. Finally, Corient Private Wealth LP increased its position in Hawaiian Electric Industries by 41.6% during the second quarter. Corient Private Wealth LP now owns 490,229 shares of the utilities provider's stock worth $6,633,000 after buying an additional 144,124 shares during the last quarter. 59.91% of the stock is owned by institutional investors.

Hawaiian Electric Industries Company Profile

Hawaiian Electric Industries, Inc NYSE: HE is a Hawaii-based holding company whose principal businesses are electric utility operations and banking. Through its utility subsidiaries, the company generates, purchases, transmits and distributes electricity to residential, commercial and industrial customers across the Hawaiian Islands.

Hawaiian Electric Company serves Oahu, while Maui Electric Company provides service on Maui, Molokai and Lanai. Hawaii Electric Light serves customers on the island of Hawaii.

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