Hawaiian Electric Industries, Inc. (NYSE:HE) Given Consensus Rating of “Reduce” by Analysts

Hawaiian Electric Industries, Inc. (NYSE:HE) has earned a consensus rating of “Reduce” from the four analysts that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation and three have issued a hold recommendation on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $13.25.

A number of research analysts have recently weighed in on the company. Wall Street Zen raised Hawaiian Electric Industries from a “hold” rating to a “buy” rating in a report on Saturday. Jefferies Financial Group downgraded Hawaiian Electric Industries from a “hold” rating to an “underperform” rating and decreased their target price for the stock from $13.50 to $12.50 in a 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. Zacks Research upgraded shares of Hawaiian Electric Industries to a “hold” rating in a report on Monday, February 9th. Finally, Barclays lifted their price objective on shares of 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.

Hawaiian Electric Industries Price Performance

Shares of HE opened at $14.92 on Monday. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.32 and a quick ratio of 1.32. The company’s fifty day moving average price is $15.08 and its 200-day moving average price is $12.89. Hawaiian Electric Industries has a 1-year low of $9.06 and a 1-year high of $17.38. The firm has a market capitalization of $2.58 billion, a PE ratio of 21.01 and a beta of 0.62.

Hawaiian Electric Industries (NYSE:HE) 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. Hawaiian Electric Industries had a return on equity of 9.82% and a net margin of 4.09%.The company had revenue of $805.82 million during the quarter. On average, equities research analysts predict that Hawaiian Electric Industries will post 1.71 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Navalign LLC purchased a new stake in Hawaiian Electric Industries in the fourth quarter valued at $25,000. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Hawaiian Electric Industries by 199,800.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,999 shares of the utilities provider’s stock valued at $25,000 after buying an additional 1,998 shares during the period. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Hawaiian Electric Industries by 142.2% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 2,325 shares of the utilities provider’s stock valued at $26,000 after buying an additional 1,365 shares during the period. Larson Financial Group LLC boosted its stake in shares of Hawaiian Electric Industries by 242.2% in the third quarter. Larson Financial Group LLC now owns 2,741 shares of the utilities provider’s stock worth $30,000 after buying an additional 1,940 shares during the last quarter. Finally, Tucker Asset Management LLC purchased a new stake in shares of Hawaiian Electric Industries in the fourth quarter worth about $32,000. 59.91% of the stock is currently owned by institutional investors and hedge funds.

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.