Evercore ISI Raises Hawaiian Electric Industries (NYSE:HE) Price Target to $11.00

Hawaiian Electric Industries (NYSE:HE) had its price objective boosted by research analysts at Evercore ISI from $9.00 to $11.00 in a report released on Monday,Benzinga reports. The firm currently has an “in-line” rating on the utilities provider’s stock. Evercore ISI’s price target suggests a potential upside of 8.91% from the stock’s previous close.

A number of other brokerages also recently commented on HE. StockNews.com downgraded Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a research report on Friday, October 4th. Wells Fargo & Company lowered their price target on Hawaiian Electric Industries from $14.00 to $11.50 and set an “equal weight” rating for the company in a report on Monday, September 30th.

Hawaiian Electric Industries Price Performance

NYSE:HE opened at $10.10 on Monday. Hawaiian Electric Industries has a 12-month low of $7.61 and a 12-month high of $18.19. The firm has a market cap of $1.11 billion, a price-to-earnings ratio of -0.85 and a beta of 0.53. The company’s 50-day moving average is $10.42 and its two-hundred day moving average is $11.15. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 2.62.

Hawaiian Electric Industries (NYSE:HE) last announced its quarterly earnings data 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 firm had revenue of $983.38 million for the quarter. Hawaiian Electric Industries had a negative net margin of 31.76% and a positive return on equity of 10.69%. The business’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.37 earnings per share.

Institutional Trading of Hawaiian Electric Industries

Institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its position 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 acquiring an additional 160,815 shares during the period. AQR Capital Management LLC lifted its stake 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 valued at $60,308,000 after purchasing an additional 2,312,950 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Hawaiian Electric Industries by 20.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,021,649 shares of the utilities provider’s stock worth $29,250,000 after purchasing an additional 514,989 shares during the period. Millennium Management LLC increased its position in 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 worth $16,868,000 after purchasing an additional 825,073 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Hawaiian Electric Industries by 23.2% in 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 buying an additional 120,208 shares during the period. 59.91% of the stock is currently owned by institutional investors and hedge funds.

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.