Hawaiian Electric Industries (NYSE:HE) Price Target Cut to $10.00 by Analysts at Evercore ISI

Hawaiian Electric Industries (NYSE:HE) had its target price reduced by investment analysts at Evercore ISI from $11.00 to $10.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has an “in-line” rating on the utilities provider’s stock. Evercore ISI’s price target would suggest a potential downside of 5.21% from the stock’s current price.

Several other analysts have also issued reports on HE. StockNews.com lowered Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a report on Friday, October 4th. Wells Fargo & Company cut their price objective 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 Stock Down 0.8 %

Shares of HE traded down $0.08 on Tuesday, hitting $10.55. The company’s stock had a trading volume of 583,204 shares, compared to its average volume of 3,410,138. The company has a quick ratio of 0.18, a current ratio of 0.18 and a debt-to-equity ratio of 1.80. The firm has a market capitalization of $1.82 billion, a price-to-earnings ratio of -0.89 and a beta of 0.53. The firm’s fifty day moving average price is $10.30 and its 200-day moving average price is $11.15. Hawaiian Electric Industries has a fifty-two week low of $7.61 and a fifty-two week high of $18.19.

Hawaiian Electric Industries (NYSE:HE) last announced its earnings results on Friday, November 8th. The utilities provider reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.07). The firm had revenue of $983.38 million during the quarter. Hawaiian Electric Industries had a negative net margin of 35.38% and a positive return on equity of 11.12%. The business’s revenue was up 9.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.37 earnings per share.

Institutional Investors Weigh In On Hawaiian Electric Industries

Hedge funds have recently bought and sold shares of the company. State Board of Administration of Florida Retirement System raised its stake in 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 buying an additional 24,328 shares during the period. Mitsubishi UFJ Trust & Banking Corp lifted its holdings in 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 purchasing an additional 3,156 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Hawaiian Electric Industries by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 11,059,244 shares of the utilities provider’s stock valued at $124,638,000 after purchasing an additional 160,815 shares during the last quarter. Acadian Asset Management LLC boosted its position in Hawaiian Electric Industries by 470.4% during the first quarter. Acadian Asset Management LLC now owns 10,780 shares of the utilities provider’s stock worth $121,000 after purchasing an additional 8,890 shares during the period. Finally, CANADA LIFE ASSURANCE Co increased its holdings in shares of Hawaiian Electric Industries by 17.0% in the first quarter. CANADA LIFE ASSURANCE Co now owns 12,172 shares of the utilities provider’s stock valued at $137,000 after purchasing an additional 1,766 shares during the last quarter. 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.