Hawaiian Electric Industries (NYSE:HE) PT Lowered to $9.00 at Evercore ISI

Hawaiian Electric Industries (NYSE:HE) had its price objective lowered by Evercore ISI from $16.00 to $9.00 in a research note released on Tuesday, Benzinga reports. The firm currently has an in-line rating on the utilities provider’s stock.

Several other equities research analysts have also recently weighed in on the company. StockNews.com cut Hawaiian Electric Industries from a hold rating to a sell rating in a research note on Monday, September 16th. Wells Fargo & Company upgraded Hawaiian Electric Industries from an underweight rating to an equal weight rating and set a $14.00 price target for the company in a research note on Friday, August 23rd.

Hawaiian Electric Industries Price Performance

Shares of HE opened at $9.85 on Tuesday. The firm has a market capitalization of $1.09 billion, a PE ratio of 5.83 and a beta of 0.55. The company has a debt-to-equity ratio of 2.62, a current ratio of 0.11 and a quick ratio of 0.11. The company’s 50-day moving average is $13.09 and its 200-day moving average is $11.35. Hawaiian Electric Industries has a fifty-two week low of $7.61 and a fifty-two week high of $18.19.

Hawaiian Electric Industries (NYSE:HE) last posted its quarterly earnings data on Friday, August 9th. The utilities provider reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.05). The company had revenue of $792.30 million for the quarter. Hawaiian Electric Industries had a positive return on equity of 10.69% and a negative net margin of 31.76%. The business’s revenue for the quarter was down .2% on a year-over-year basis.

Hedge Funds Weigh In On Hawaiian Electric Industries

Several hedge funds have recently made changes to their positions in HE. Vanguard Group Inc. boosted its stake in Hawaiian Electric Industries by 1.5% during the first quarter. Vanguard Group Inc. now owns 11,059,244 shares of the utilities provider’s stock valued at $124,638,000 after buying an additional 160,815 shares during the period. AQR Capital Management LLC grew its position in shares of Hawaiian Electric Industries by 52.8% in the 2nd quarter. AQR Capital Management LLC now owns 6,693,424 shares of the utilities provider’s stock worth $60,308,000 after buying an additional 2,312,950 shares during the last quarter. Millennium Management LLC boosted its stake in shares of Hawaiian Electric Industries by 79.0% during the 2nd quarter. Millennium Management LLC now owns 1,870,088 shares of the utilities provider’s stock valued at $16,868,000 after purchasing an additional 825,073 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Hawaiian Electric Industries by 23.2% during the second quarter. Bank of New York Mellon Corp now owns 638,156 shares of the utilities provider’s stock valued at $5,756,000 after purchasing an additional 120,208 shares in the last quarter. Finally, Verition Fund Management LLC purchased a new stake in shares of Hawaiian Electric Industries in the 4th quarter worth about $8,944,000. 59.91% of the stock is currently owned by hedge funds and other institutional investors.

Hawaiian Electric Industries Company Profile

Hawaiian Electric Industries, Inc, together with its subsidiaries, engages in the electric utility businesses in the United States. It operates in three segments: Electric Utility, Bank, and Other. The Electric Utility segment engages in the production, purchase, transmission, distribution, and sale of electricity in the islands of Oahu, Hawaii, Maui, Lanai, and Molokai.