Hawaiian Electric Industries (NYSE:HE) PT Lowered to $11.50

Hawaiian Electric Industries (NYSE:HE) had its target price reduced by Wells Fargo & Company from $14.00 to $11.50 in a research report released on Monday morning, Benzinga reports. They currently have an equal weight rating on the utilities provider’s stock.

Several other equities analysts have also recently weighed in on HE. StockNews.com cut Hawaiian Electric Industries from a hold rating to a sell rating in a research report on Wednesday, September 25th. Evercore ISI decreased their price target on shares of 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 Up 5.7 %

Shares of Hawaiian Electric Industries stock opened at $9.78 on Monday. The company has a debt-to-equity ratio of 2.62, a current ratio of 0.11 and a quick ratio of 0.11. The firm has a market cap of $1.08 billion, a PE ratio of 5.79 and a beta of 0.54. Hawaiian Electric Industries has a 1 year low of $7.61 and a 1 year high of $18.19. The stock has a fifty day moving average price of $12.40 and a 200-day moving average price of $11.29.

Hawaiian Electric Industries (NYSE:HE) last issued its earnings results on Friday, August 9th. The utilities provider reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.05). The firm had revenue of $792.30 million during 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 down .2% compared to the same quarter last year.

Hedge Funds Weigh In On Hawaiian Electric Industries

A number of large investors have recently bought and sold shares of HE. AQR Capital Management LLC raised its stake in shares of Hawaiian Electric Industries by 52.8% during the second quarter. AQR Capital Management LLC now owns 6,693,424 shares of the utilities provider’s stock valued at $60,308,000 after acquiring an additional 2,312,950 shares during the last quarter. Millennium Management LLC lifted its holdings in Hawaiian Electric Industries by 79.0% in the 2nd quarter. Millennium Management LLC now owns 1,870,088 shares of the utilities provider’s stock worth $16,868,000 after buying an additional 825,073 shares during the period. Verition Fund Management LLC bought a new stake in shares of Hawaiian Electric Industries in the 4th quarter worth approximately $8,944,000. Wellington Management Group LLP bought a new position in Hawaiian Electric Industries in the 4th quarter worth $2,370,000. Finally, Panagora Asset Management Inc. boosted its position in Hawaiian Electric Industries by 716.5% during the 2nd quarter. Panagora Asset Management Inc. now owns 187,690 shares of the utilities provider’s stock valued at $1,693,000 after acquiring an additional 164,702 shares in the last quarter. 59.91% of the stock is owned by hedge funds and other institutional investors.

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.