Hawaiian Electric Industries (NYSE:HE) Now Covered by Jefferies Financial Group

Analysts at Jefferies Financial Group initiated coverage on shares of Hawaiian Electric Industries (NYSE:HE) in a research report issued on Tuesday,Briefing.com Automated Import reports. The brokerage set a “hold” rating and a $11.50 price target on the utilities provider’s stock. Jefferies Financial Group’s price target indicates a potential upside of 11.00% from the company’s previous close.

Several other equities research analysts have also weighed in on HE. Wells Fargo & Company dropped their price target on Hawaiian Electric Industries from $14.00 to $11.50 and set an “equal weight” rating on the stock in a research report on Monday, September 30th. StockNews.com cut shares of Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a report on Friday, October 4th. Finally, Evercore ISI decreased their price target on shares of Hawaiian Electric Industries from $11.00 to $10.00 and set an “in-line” rating for the company in a research note on Tuesday, November 19th.

Hawaiian Electric Industries Stock Performance

Shares of HE stock opened at $10.36 on Tuesday. The firm has a market capitalization of $1.79 billion, a price-to-earnings ratio of -0.88 and a beta of 0.53. The stock has a fifty day moving average of $10.11 and a 200 day moving average of $11.15. Hawaiian Electric Industries has a 52 week low of $7.61 and a 52 week high of $18.19. The company has a quick ratio of 0.18, a current ratio of 0.18 and a debt-to-equity ratio of 1.80.

Hawaiian Electric Industries (NYSE:HE) last announced its quarterly earnings results on Friday, November 8th. The utilities provider reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.07). The company had revenue of $983.38 million for the quarter. Hawaiian Electric Industries had a negative net margin of 35.38% and a positive return on equity of 11.12%. Hawaiian Electric Industries’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.37 EPS.

Hedge Funds Weigh In On Hawaiian Electric Industries

A number of hedge funds have recently bought and sold shares of the company. KBC Group NV boosted its stake in Hawaiian Electric Industries by 34.8% during the 3rd quarter. KBC Group NV now owns 3,956 shares of the utilities provider’s stock valued at $38,000 after purchasing an additional 1,021 shares during the last quarter. UMB Bank n.a. purchased a new stake in shares of Hawaiian Electric Industries during the third quarter valued at $42,000. Quarry LP raised its position in Hawaiian Electric Industries by 156.6% in the 3rd quarter. Quarry LP now owns 4,503 shares of the utilities provider’s stock worth $44,000 after buying an additional 2,748 shares during the last quarter. Millburn Ridgefield Corp bought a new position in Hawaiian Electric Industries during the 3rd quarter valued at about $55,000. Finally, Signaturefd LLC grew its stake in shares of Hawaiian Electric Industries by 30.8% in the second quarter. Signaturefd LLC now owns 8,437 shares of the utilities provider’s stock worth $76,000 after acquiring an additional 1,986 shares during the period. Institutional investors own 59.91% of the company’s stock.

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.