Hawaiian Electric Industries (NYSE:HE) Price Target Raised to $12.50 at Wells Fargo & Company

Hawaiian Electric Industries (NYSE:HE) had its target price raised by Wells Fargo & Company from $11.00 to $12.50 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has an “equal weight” rating on the utilities provider’s stock. Wells Fargo & Company‘s price target points to a potential upside of 19.22% from the stock’s current price.

Several other analysts also recently weighed in on the company. Jefferies Financial Group cut their price target on Hawaiian Electric Industries from $11.50 to $10.50 and set a “hold” rating on the stock in a research note on Friday, January 3rd. Evercore ISI cut their price objective on shares of Hawaiian Electric Industries from $11.00 to $10.00 and set an “in-line” rating on the stock in a research report on Tuesday, November 19th. Barclays started coverage on shares of Hawaiian Electric Industries in a research note on Thursday, February 6th. They issued an “equal weight” rating and a $10.00 target price on the stock. Finally, StockNews.com downgraded shares of Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a report on Tuesday, February 11th. One equities research analyst has rated the stock with a sell rating and four have issued a hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $10.75.

Hawaiian Electric Industries Trading Down 2.7 %

NYSE:HE traded down $0.30 during mid-day trading on Thursday, reaching $10.49. 494,196 shares of the company’s stock traded hands, compared to its average volume of 3,147,989. The company has a 50 day moving average price of $9.62 and a 200-day moving average price of $10.30. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.18 and a quick ratio of 0.18. The firm has a market capitalization of $1.81 billion, a price-to-earnings ratio of -0.89 and a beta of 0.53. Hawaiian Electric Industries has a 12-month low of $7.61 and a 12-month high of $18.19.

Hawaiian Electric Industries (NYSE:HE) last posted its quarterly earnings data on Friday, February 21st. The utilities provider reported $0.20 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.19). The business had revenue of $799.18 million for the quarter. Hawaiian Electric Industries had a positive return on equity of 11.12% and a negative net margin of 35.38%. On average, sell-side analysts predict that Hawaiian Electric Industries will post 1.71 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in HE. International Assets Investment Management LLC increased its stake in shares of Hawaiian Electric Industries by 789.8% in the 3rd quarter. International Assets Investment Management LLC now owns 106,270 shares of the utilities provider’s stock worth $10,978,000 after purchasing an additional 94,327 shares in the last quarter. PFG Investments LLC bought a new position in shares of Hawaiian Electric Industries in the third quarter worth about $166,000. Van ECK Associates Corp lifted its position in shares of Hawaiian Electric Industries by 59.9% during the 3rd quarter. Van ECK Associates Corp now owns 45,536 shares of the utilities provider’s stock valued at $443,000 after buying an additional 17,055 shares in the last quarter. Fernwood Investment Management LLC grew its stake in shares of Hawaiian Electric Industries by 82.8% during the 3rd quarter. Fernwood Investment Management LLC now owns 133,175 shares of the utilities provider’s stock valued at $1,289,000 after acquiring an additional 60,335 shares during the period. Finally, Versor Investments LP purchased a new stake in Hawaiian Electric Industries in the 3rd quarter worth approximately $367,000. 59.91% of the stock is currently owned by 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.