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

Hawaiian Electric Industries (NYSE:HE) had its price objective increased by Evercore ISI from $9.00 to $11.00 in a research note published on Monday morning,Benzinga reports. Evercore ISI currently has an in-line rating on the utilities provider’s stock.

Several other research firms also recently issued reports on HE. Wells Fargo & Company cut their price objective on Hawaiian Electric Industries from $14.00 to $11.50 and set an “equal weight” rating on the stock in a report on Monday, September 30th. StockNews.com lowered Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a report on Friday, October 4th.

Hawaiian Electric Industries Price Performance

Shares of NYSE:HE traded up $0.29 during trading on Monday, reaching $10.26. 364,919 shares of the company’s stock traded hands, compared to its average volume of 3,417,834. The firm has a market cap of $1.13 billion, a PE ratio of -0.84 and a beta of 0.53. Hawaiian Electric Industries has a fifty-two week low of $7.61 and a fifty-two week high of $18.19. The company has a 50-day simple moving average of $10.44 and a 200-day simple moving average of $11.15. The company has a quick ratio of 0.11, a current 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). Hawaiian Electric Industries had a negative net margin of 31.76% and a positive return on equity of 10.69%. The business had revenue of $983.38 million for the quarter. During the same period in the previous year, the company posted $0.37 earnings per share. The company’s quarterly revenue was up 9.0% compared to the same quarter last year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in HE. Oppenheimer & Co. Inc. grew its position in shares of Hawaiian Electric Industries by 14.4% during the first quarter. Oppenheimer & Co. Inc. now owns 31,000 shares of the utilities provider’s stock worth $349,000 after acquiring an additional 3,900 shares during the last quarter. Inspire Investing LLC purchased a new position in shares of Hawaiian Electric Industries in the 1st quarter valued at approximately $357,000. Headlands Technologies LLC acquired a new stake in Hawaiian Electric Industries in the first quarter valued at about $222,000. State Board of Administration of Florida Retirement System lifted its stake in shares of Hawaiian Electric Industries by 18.4% in the first quarter. State Board of Administration of Florida Retirement System now owns 156,734 shares of the utilities provider’s stock valued at $1,766,000 after purchasing an additional 24,328 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp lifted its position in shares of Hawaiian Electric Industries by 31.2% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 13,265 shares of the utilities provider’s stock valued at $147,000 after acquiring an additional 3,156 shares during the period. Institutional investors and hedge funds own 59.91% of the company’s stock.

About Hawaiian Electric Industries

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.