Hawaiian Electric Industries (NYSE:HE) Stock Rating Upgraded by Wall Street Zen

Key Points

• Wall Street Zen upgraded Hawaiian Electric Industries (NYSE:HE) from a "hold" to a "buy" in a recent research note.
• Despite that upgrade, the MarketBeat consensus remains negative — an average rating of "Reduce" with an average target price of $13.25 — and analysts are mixed (Barclays raised its target to $14 while Jefferies downgraded to "underperform").
• Recent fundamentals: Q4 EPS of $0.24 met estimates on $805.8M revenue, the company has a market cap of $2.58B and shares trading near $14.92 (12‑month range $9.06–$17.38), and institutional ownership is about 59.9% with notable stake increases by RBC and UBS.

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

Other research analysts have also recently issued research 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 note on Monday, March 2nd. Weiss Ratings raised Hawaiian Electric Industries from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Monday. Zacks Research upgraded Hawaiian Electric Industries to a "hold" rating in a report on Monday, February 9th. Finally, Jefferies Financial Group downgraded Hawaiian Electric Industries from a "hold" rating to an "underperform" rating and cut their price objective for the company from $13.50 to $12.50 in a research report on Tuesday, January 20th. Three analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Hawaiian Electric Industries currently has an average rating of "Reduce" and an average target price of $13.25.

Hawaiian Electric Industries Price Performance

NYSE:HE opened at $14.92 on Friday. The company has a current ratio of 1.32, a quick ratio of 1.35 and a debt-to-equity ratio of 1.74. The company has a market capitalization of $2.58 billion, a P/E ratio of 21.01 and a beta of 0.62. Hawaiian Electric Industries has a 12 month low of $9.06 and a 12 month high of $17.38. The business's 50-day moving average is $15.08 and its 200 day moving average is $12.87.

Hawaiian Electric Industries (NYSE:HE - Get Free Report) last released its quarterly earnings data on Friday, February 27th. The utilities provider reported $0.24 EPS for the quarter, meeting the consensus estimate of $0.24. The business had revenue of $805.82 million during the quarter. Hawaiian Electric Industries had a net margin of 4.09% and a return on equity of 9.82%. On average, equities research analysts forecast that Hawaiian Electric Industries will post 1.71 earnings per share for the current fiscal year.

Institutional Trading of Hawaiian Electric Industries

Institutional investors have recently made changes to their positions in the business. Comerica Bank grew its stake in shares of Hawaiian Electric Industries by 45.0% during the first quarter. Comerica Bank now owns 6,075 shares of the utilities provider's stock worth $67,000 after acquiring an additional 1,886 shares during the last quarter. Royal Bank of Canada raised its position in shares of Hawaiian Electric Industries by 51.9% in the 1st quarter. Royal Bank of Canada now owns 379,888 shares of the utilities provider's stock valued at $4,159,000 after purchasing an additional 129,819 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Hawaiian Electric Industries by 16.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 121,582 shares of the utilities provider's stock valued at $1,331,000 after purchasing an additional 17,158 shares during the last quarter. Empowered Funds LLC boosted its stake in Hawaiian Electric Industries by 12.9% in the 1st quarter. Empowered Funds LLC now owns 26,690 shares of the utilities provider's stock worth $292,000 after purchasing an additional 3,060 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Hawaiian Electric Industries by 36.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 491,366 shares of the utilities provider's stock worth $5,380,000 after purchasing an additional 132,321 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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