Hawaiian Electric Industries (NYSE:HE) Price Target Lowered to $10.50 at Jefferies Financial Group

Hawaiian Electric Industries (NYSE:HE) had its price objective reduced by Jefferies Financial Group from $11.50 to $10.50 in a research report sent to investors on Friday,Benzinga reports. They currently have a hold rating on the utilities provider’s stock.

Several other research analysts also recently weighed in on the stock. StockNews.com downgraded shares of Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a report on Friday. Wells Fargo & Company lowered their target price on shares of Hawaiian Electric Industries from $14.00 to $11.50 and set an “equal weight” rating on the stock in a report on Monday, September 30th. Finally, Evercore ISI cut their price target on Hawaiian Electric Industries from $11.00 to $10.00 and set an “in-line” rating for the company in a research note on Tuesday, November 19th.

Hawaiian Electric Industries Stock Performance

Shares of HE stock opened at $9.33 on Friday. The firm has a 50 day moving average of $10.19 and a 200-day moving average of $11.05. The company has a market cap of $1.61 billion, a price-to-earnings ratio of -0.79 and a beta of 0.53. The company has a quick ratio of 0.18, a current ratio of 0.18 and a debt-to-equity ratio of 1.80. Hawaiian Electric Industries has a 52 week low of $7.61 and a 52 week high of $18.19.

Hawaiian Electric Industries (NYSE:HE) last posted its quarterly earnings results on Friday, November 8th. The utilities provider reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.07). The company 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 company’s quarterly revenue was up 9.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.37 earnings per share. On average, equities analysts forecast 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 made changes to their positions in the company. Zimmer Partners LP bought a new stake in Hawaiian Electric Industries in the 3rd quarter worth about $145,200,000. AQR Capital Management LLC grew its holdings in shares of Hawaiian Electric Industries by 52.8% in 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 in the last quarter. FMR LLC grew its holdings in shares of Hawaiian Electric Industries by 7,986.3% in the third quarter. FMR LLC now owns 5,340,679 shares of the utilities provider’s stock valued at $51,698,000 after acquiring an additional 5,274,633 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Hawaiian Electric Industries by 49.3% during the third quarter. Geode Capital Management LLC now owns 3,793,142 shares of the utilities provider’s stock valued at $36,725,000 after acquiring an additional 1,253,143 shares during the last quarter. Finally, State Street Corp lifted its holdings in Hawaiian Electric Industries by 19.8% during the third quarter. State Street Corp now owns 3,368,096 shares of the utilities provider’s stock worth $32,603,000 after acquiring an additional 556,747 shares during the period. Hedge funds and other institutional investors own 59.91% of the company’s stock.

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.