Hawaiian Electric Industries (NYSE:HE) Downgraded to Hold Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded Hawaiian Electric Industries from "Buy" to "Hold", and other analysts are mixed—one Strong Buy, two Holds and one Sell—leaving a MarketBeat consensus rating of "Hold" with a consensus price target of $13.25.
• Shares opened at $15.72 with a market cap of $2.71 billion and a PE of 22.13; Hawaiian Electric reported $0.24 EPS for the quarter (meeting estimates) on $805.8 million of revenue and has a 1‑year trading range of $9.27–$17.38.

Hawaiian Electric Industries (NYSE:HE - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "buy" rating to a "hold" rating in a report released on Saturday.

Other analysts also recently issued reports about the company. Barclays upped their target price on Hawaiian Electric Industries from $13.00 to $14.00 and gave the company an "equal weight" rating in a research report on Monday, March 2nd. Jefferies Financial Group downgraded Hawaiian Electric Industries from a "hold" rating to an "underperform" rating and cut their target price for the company from $13.50 to $12.50 in a research report on Tuesday, January 20th. Weiss Ratings upgraded Hawaiian Electric Industries from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Monday, March 2nd. Finally, Zacks Research upgraded Hawaiian Electric Industries from a "hold" rating to a "strong-buy" rating in a research report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $13.25.

Hawaiian Electric Industries Stock Performance

HE opened at $15.72 on Friday. The business has a fifty day simple moving average of $15.50 and a 200 day simple moving average of $13.35. The company has a market capitalization of $2.71 billion, a PE ratio of 22.13 and a beta of 0.55. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.32 and a quick ratio of 1.32. Hawaiian Electric Industries has a 1 year low of $9.27 and a 1 year high of $17.38.

Hawaiian Electric Industries (NYSE:HE - Get Free Report) last released its earnings results on Friday, February 27th. The utilities provider reported $0.24 earnings per share for the quarter, meeting analysts' consensus estimates of $0.24. The firm had revenue of $805.82 million during the quarter. Hawaiian Electric Industries had a return on equity of 9.82% and a net margin of 4.09%. Research analysts expect that Hawaiian Electric Industries will post 1.71 EPS for the current year.

Hedge Funds Weigh In On Hawaiian Electric Industries

Institutional investors have recently modified their holdings of the business. EverSource Wealth Advisors LLC increased its holdings in Hawaiian Electric Industries by 37.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,682 shares of the utilities provider's stock worth $33,000 after purchasing an additional 737 shares in the last quarter. SBI Securities Co. Ltd. increased its holdings in Hawaiian Electric Industries by 9.4% in the 4th quarter. SBI Securities Co. Ltd. now owns 9,523 shares of the utilities provider's stock worth $117,000 after purchasing an additional 816 shares in the last quarter. Venturi Wealth Management LLC increased its holdings in Hawaiian Electric Industries by 5.9% in the 4th quarter. Venturi Wealth Management LLC now owns 15,714 shares of the utilities provider's stock worth $193,000 after purchasing an additional 871 shares in the last quarter. Federated Hermes Inc. increased 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 purchasing an additional 910 shares in the last quarter. Finally, Xponance LLC increased its holdings in Hawaiian Electric Industries by 5.7% in the 4th quarter. Xponance LLC now owns 17,022 shares of the utilities provider's stock worth $209,000 after purchasing an additional 918 shares in the last quarter. Institutional investors and hedge funds 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.

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