Jefferies Financial Group Has Lowered Expectations for Hawaiian Electric Industries (NYSE:HE) Stock Price

Hawaiian Electric Industries (NYSE:HE) had its price objective decreased by research analysts at Jefferies Financial Group from $11.50 to $10.50 in a note issued to investors on Friday,Benzinga reports. The firm presently has a “hold” rating on the utilities provider’s stock. Jefferies Financial Group’s price target suggests a potential upside of 12.30% from the company’s current price.

HE has been the subject of several other research reports. StockNews.com cut Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a report on Friday. Wells Fargo & Company dropped their price target on shares of 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. 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

HE traded down $0.10 during trading hours on Friday, hitting $9.35. The company’s stock had a trading volume of 1,352,728 shares, compared to its average volume of 2,421,504. The company has a 50-day simple moving average of $10.19 and a 200 day simple moving average of $11.05. The firm has a market capitalization of $1.61 billion, a PE ratio of -0.79 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 current ratio of 0.18, a quick ratio of 0.18 and a debt-to-equity ratio of 1.80.

Hawaiian Electric Industries (NYSE:HE) last issued 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). Hawaiian Electric Industries had a negative net margin of 35.38% and a positive return on equity of 11.12%. The business had revenue of $983.38 million during the quarter. During the same quarter in the prior year, the company posted $0.37 earnings per share. The business’s revenue was up 9.0% compared to the same quarter last year. As a group, sell-side analysts expect that Hawaiian Electric Industries will post 1.71 EPS for the current year.

Institutional Investors Weigh In On Hawaiian Electric Industries

Several hedge funds have recently modified their holdings of the company. KBC Group NV increased its holdings 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 worth $38,000 after purchasing an additional 1,021 shares during the period. UMB Bank n.a. acquired a new stake in shares of Hawaiian Electric Industries in the third quarter worth approximately $42,000. Quarry LP boosted its position in shares of Hawaiian Electric Industries by 156.6% in the third 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 period. Millburn Ridgefield Corp bought a new position in Hawaiian Electric Industries during the 3rd quarter valued at $55,000. Finally, Quest Partners LLC grew its position in shares of Hawaiian Electric Industries by 126.1% during the third quarter. Quest Partners LLC now owns 7,983 shares of the utilities provider’s stock worth $77,000 after acquiring an additional 4,453 shares during the last quarter. 59.91% of the stock is owned by hedge funds and other institutional investors.

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.