Hawaiian Electric Industries (NYSE:HE) Price Target Cut to $11.50

Hawaiian Electric Industries (NYSE:HE) had its price target dropped by analysts at Wells Fargo & Company from $14.00 to $11.50 in a research note issued on Monday, Benzinga reports. The brokerage currently has an “equal weight” rating on the utilities provider’s stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 25.96% from the company’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 Wednesday, September 25th. Evercore ISI reduced their price target on Hawaiian Electric Industries from $16.00 to $9.00 and set an “in-line” rating on the stock in a report on Tuesday, September 24th.

Hawaiian Electric Industries Trading Down 5.7 %

Shares of HE stock opened at $9.13 on Monday. 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 debt-to-equity ratio of 2.62, a quick ratio of 0.11 and a current ratio of 0.11. The stock’s fifty day moving average is $12.83 and its two-hundred day moving average is $11.33. The firm has a market capitalization of $1.01 billion, a P/E ratio of 5.53 and a beta of 0.55.

Hawaiian Electric Industries (NYSE:HE) last posted its quarterly earnings results on Friday, August 9th. The utilities provider reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.05). The business had revenue of $792.30 million for the quarter. Hawaiian Electric Industries had a positive return on equity of 10.69% and a negative net margin of 31.76%. The company’s revenue for the quarter was down .2% compared to the same quarter last year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Treasurer of the State of North Carolina lifted its holdings in shares of Hawaiian Electric Industries by 0.6% in the 4th quarter. Treasurer of the State of North Carolina now owns 159,290 shares of the utilities provider’s stock worth $2,260,000 after acquiring an additional 984 shares during the last quarter. Abich Financial Wealth Management LLC boosted its position in shares of Hawaiian Electric Industries by 54.4% during the first quarter. Abich Financial Wealth Management LLC now owns 3,226 shares of the utilities provider’s stock worth $36,000 after buying an additional 1,137 shares during the period. IMS Capital Management grew its stake in shares of Hawaiian Electric Industries by 2.5% in the second quarter. IMS Capital Management now owns 51,957 shares of the utilities provider’s stock valued at $469,000 after buying an additional 1,257 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its holdings in shares of Hawaiian Electric Industries by 17.0% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 12,172 shares of the utilities provider’s stock valued at $137,000 after buying an additional 1,766 shares during the period. Finally, Signaturefd LLC lifted its stake in Hawaiian Electric Industries by 30.8% during the 2nd quarter. Signaturefd LLC now owns 8,437 shares of the utilities provider’s stock worth $76,000 after acquiring an additional 1,986 shares in the last quarter. 59.91% of the stock is currently 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.