Hawaiian Electric Industries (NYSE:HE) Lowered to "Hold" Rating by Zacks Research

Key Points

• Zacks Research downgraded Hawaiian Electric Industries from a "strong-buy" to a "hold," and other brokers have cut ratings too (Jefferies to "underperform" with a $12.50 target; Wall Street Zen to "hold"), leaving a MarketBeat consensus rating of "Reduce".
• Shares are trading around $15.42 (market cap ~$2.66B) while the consensus price target is $13.25, implying potential downside within a 12‑month range of $10.14–$17.38.
• Fundamentals: Q4 EPS was $0.24 (in line with estimates) on $805.8M revenue, with a ROE of 9.82%, net margin of 4.09%, ~59.9% institutional ownership and a debt/equity ratio of 1.74.

Hawaiian Electric Industries (NYSE:HE - Get Free Report) was downgraded by investment analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a research note issued on Wednesday,Zacks.com reports.

Several other research firms also recently issued reports on HE. Jefferies Financial Group downgraded Hawaiian Electric Industries from a "hold" rating to an "underperform" rating and lowered their price objective for the company from $13.50 to $12.50 in a research note on Tuesday, January 20th. Barclays lifted their target price on shares of Hawaiian Electric Industries from $13.00 to $14.00 and gave the stock an "equal weight" rating in a research report on Monday, March 2nd. Wall Street Zen lowered shares of Hawaiian Electric Industries from a "buy" rating to a "hold" rating in a report on Saturday, April 11th. Finally, Weiss Ratings upgraded shares of Hawaiian Electric Industries from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Monday, March 2nd. Three investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Reduce" and a consensus target price of $13.25.

Hawaiian Electric Industries Trading Up 0.9%

NYSE HE opened at $15.42 on Wednesday. The company has a market cap of $2.66 billion, a price-to-earnings ratio of 21.72 and a beta of 0.54. Hawaiian Electric Industries has a twelve month low of $10.14 and a twelve month high of $17.38. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 1.74. The business's fifty day moving average is $15.18 and its 200 day moving average is $13.88.

Hawaiian Electric Industries (NYSE:HE - Get Free Report) last issued its earnings results on Friday, February 27th. The utilities provider reported $0.24 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.24. The business 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%. As a group, sell-side analysts expect that Hawaiian Electric Industries will post 1.06 EPS for the current fiscal year.

Hedge Funds Weigh In On Hawaiian Electric Industries

A number of hedge funds have recently made changes to their positions in the stock. Navalign LLC bought a new stake in Hawaiian Electric Industries in the fourth quarter valued at approximately $25,000. Caitong International Asset Management Co. Ltd raised its holdings in Hawaiian Electric Industries by 199,800.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,999 shares of the utilities provider's stock worth $25,000 after purchasing an additional 1,998 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in Hawaiian Electric Industries by 142.2% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 2,325 shares of the utilities provider's stock worth $26,000 after purchasing an additional 1,365 shares during the last quarter. Larson Financial Group LLC lifted its position in shares of Hawaiian Electric Industries by 242.2% in the 3rd quarter. Larson Financial Group LLC now owns 2,741 shares of the utilities provider's stock worth $30,000 after purchasing an additional 1,940 shares during the period. Finally, Tucker Asset Management LLC acquired a new position in shares of Hawaiian Electric Industries in the 4th quarter worth approximately $32,000. 59.91% of the stock is currently owned by institutional investors.

Hawaiian Electric Industries Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.