Barclays Issues Positive Forecast for Hawaiian Electric Industries (NYSE:HE) Stock Price

Hawaiian Electric Industries (NYSE:HE) had its price objective upped by Barclays from $13.00 to $14.00 in a research report released on Monday,Benzinga reports. They currently have an equal weight rating on the utilities provider’s stock.

HE has been the subject of several other reports. Jefferies Financial Group cut shares of Hawaiian Electric Industries from a “hold” rating to an “underperform” rating and cut their target price for the company from $13.50 to $12.50 in a research note on Tuesday, January 20th. Zacks Research raised shares of Hawaiian Electric Industries to a “hold” rating in a research report on Monday, February 9th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Hawaiian Electric Industries in a research report on Monday, December 29th. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, Hawaiian Electric Industries has a consensus rating of “Reduce” and an average price target of $13.50.

Hawaiian Electric Industries Price Performance

Shares of NYSE:HE opened at $16.01 on Monday. The company has a market cap of $2.76 billion, a price-to-earnings ratio of 22.54 and a beta of 0.62. The business has a 50 day moving average price of $14.78 and a 200 day moving average price of $12.77. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.79. Hawaiian Electric Industries has a twelve month low of $9.06 and a twelve month high of $17.38.

Hawaiian Electric Industries (NYSE:HE) last issued its quarterly earnings results on Friday, February 27th. The utilities provider reported $0.24 EPS for the quarter, hitting analysts’ consensus estimates of $0.24. Hawaiian Electric Industries had a return on equity of 9.93% and a net margin of 4.09%.The company had revenue of $805.82 million during the quarter. Research analysts predict that Hawaiian Electric Industries will post 1.71 earnings per share for the current year.

Institutional Trading of Hawaiian Electric Industries

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Kera Capital Partners Inc. raised its position in Hawaiian Electric Industries by 51.5% in the fourth quarter. Kera Capital Partners Inc. now owns 37,638 shares of the utilities provider’s stock worth $463,000 after purchasing an additional 12,800 shares in the last quarter. Invesco Ltd. grew its stake in shares of Hawaiian Electric Industries by 160.8% in the 4th quarter. Invesco Ltd. now owns 682,036 shares of the utilities provider’s stock valued at $8,389,000 after purchasing an additional 420,560 shares during the period. Corient Private Wealth LLC raised its holdings in shares of Hawaiian Electric Industries by 189.3% in the 4th quarter. Corient Private Wealth LLC now owns 166,472 shares of the utilities provider’s stock worth $2,048,000 after buying an additional 108,932 shares in the last quarter. Mercer Global Advisors Inc. ADV lifted its position in shares of Hawaiian Electric Industries by 45.9% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 59,899 shares of the utilities provider’s stock worth $737,000 after buying an additional 18,855 shares during the period. Finally, JCP Investment Management LLC boosted its stake in Hawaiian Electric Industries by 18.1% in the 4th quarter. JCP Investment Management LLC now owns 425,000 shares of the utilities provider’s stock valued at $5,228,000 after buying an additional 65,000 shares in the last quarter. Institutional investors own 59.91% of the company’s stock.

Hawaiian Electric Industries Company Profile

Hawaiian Electric Industries, Inc is a diversified holding company operating in the energy and financial services sectors in the state of Hawaii. Its principal subsidiary, Hawaiian Electric Company, provides generation, transmission, distribution and customer service to the island of Oahu, while its Maui Electric and Hawaii Electric Light Company subsidiaries serve Maui, Molokai, Lanai and Hawaii Island. The roots of the electric utility business trace back to 1891 when service first commenced in Honolulu.

Through its subsidiary Hawaii Gas, HEI extends its energy portfolio to include the distribution of natural gas and propane, supporting residential, commercial and industrial customers across the islands.