Barclays Issues Positive Forecast for Hawaiian Electric Industries (NYSE:HE) Stock Price

Hawaiian Electric Industries (NYSE:HE) had its price objective upped by equities research analysts at Barclays from $10.00 to $11.00 in a report released on Tuesday,Benzinga reports. The firm presently has an “equal weight” rating on the utilities provider’s stock. Barclays‘s price objective indicates a potential upside of 1.57% from the stock’s current price.

HE has been the topic of a number of other reports. StockNews.com downgraded shares of Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a report on Tuesday, February 11th. Jefferies Financial Group decreased their price objective on Hawaiian Electric Industries from $11.50 to $10.50 and set a “hold” rating on the stock in a research report on Friday, January 3rd. Wells Fargo & Company lifted their target price on Hawaiian Electric Industries from $11.00 to $12.50 and gave the stock an “equal weight” rating in a report on Thursday, February 27th. Finally, Evercore ISI decreased their price target on Hawaiian Electric Industries from $11.00 to $10.00 and set an “in-line” rating on the stock in a report on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating and four have issued a hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $11.00.

Hawaiian Electric Industries Stock Down 1.1 %

Shares of HE stock opened at $10.83 on Tuesday. The company’s fifty day simple moving average is $9.68 and its two-hundred day simple moving average is $10.22. Hawaiian Electric Industries has a 52 week low of $7.61 and a 52 week high of $18.19. The stock has a market cap of $1.87 billion, a P/E ratio of -0.92 and a beta of 0.53. 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 released its quarterly earnings results on Friday, February 21st. The utilities provider reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.19). Hawaiian Electric Industries had a negative net margin of 35.38% and a positive return on equity of 11.12%. The firm had revenue of $799.18 million for the quarter. Analysts predict that Hawaiian Electric Industries will post 1.71 EPS for the current fiscal year.

Institutional Investors Weigh In On Hawaiian Electric Industries

Hedge funds and other institutional investors have recently modified their holdings of the business. Van ECK Associates Corp lifted its position in shares of Hawaiian Electric Industries by 59.9% during the third quarter. Van ECK Associates Corp now owns 45,536 shares of the utilities provider’s stock worth $443,000 after purchasing an additional 17,055 shares during the last quarter. Versor Investments LP purchased a new stake in Hawaiian Electric Industries in the 3rd quarter valued at about $367,000. Oppenheimer & Co. Inc. grew its stake in Hawaiian Electric Industries by 5.7% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 32,775 shares of the utilities provider’s stock worth $317,000 after acquiring an additional 1,775 shares in the last quarter. KBC Group NV grew its stake in Hawaiian Electric Industries by 34.8% in the 3rd quarter. KBC Group NV now owns 3,956 shares of the utilities provider’s stock worth $38,000 after acquiring an additional 1,021 shares in the last quarter. Finally, Thrivent Financial for Lutherans purchased a new position in shares of Hawaiian Electric Industries during the third quarter worth approximately $2,233,000. 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.