Hawaiian Electric Industries (NYSE:HE) Coverage Initiated by Analysts at Barclays

Barclays started coverage on shares of Hawaiian Electric Industries (NYSE:HE) in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage set an “equal weight” rating and a $10.00 price target on the utilities provider’s stock. Barclays‘s price objective would suggest a potential upside of 5.65% from the company’s current price.

Several other research firms have also recently weighed in on HE. StockNews.com cut Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a report on Wednesday, January 29th. Evercore ISI cut their price target on shares of Hawaiian Electric Industries from $11.00 to $10.00 and set an “in-line” rating for the company in a report on Tuesday, November 19th. Finally, Jefferies Financial Group dropped their price objective on Hawaiian Electric Industries from $11.50 to $10.50 and set a “hold” rating for the company in a research report on Friday, January 3rd. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $10.50.

Hawaiian Electric Industries Stock Down 0.3 %

Shares of Hawaiian Electric Industries stock traded down $0.03 on Thursday, reaching $9.47. 2,028,967 shares of the company were exchanged, compared to its average volume of 2,752,886. Hawaiian Electric Industries has a one year low of $7.61 and a one year high of $18.19. The company has a current ratio of 0.18, a quick ratio of 0.18 and a debt-to-equity ratio of 1.80. The company has a 50-day moving average of $9.57 and a 200 day moving average of $10.91. The company has a market capitalization of $1.63 billion, a price-to-earnings ratio of -0.80 and a beta of 0.53.

Hawaiian Electric Industries (NYSE:HE) last announced its quarterly earnings results on Friday, November 8th. The utilities provider reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.07). Hawaiian Electric Industries had a positive return on equity of 11.12% and a negative net margin of 35.38%. The business had revenue of $983.38 million for the quarter. During the same quarter in the previous year, the business posted $0.37 earnings per share. The firm’s revenue was up 9.0% on a year-over-year basis. On average, equities research analysts forecast that Hawaiian Electric Industries will post 1.71 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Blue Trust Inc. lifted its holdings in shares of Hawaiian Electric Industries by 203.0% in the fourth quarter. Blue Trust Inc. now owns 3,078 shares of the utilities provider’s stock valued at $30,000 after purchasing an additional 2,062 shares in the last quarter. R Squared Ltd bought a new position in Hawaiian Electric Industries in the 4th quarter worth approximately $36,000. KBC Group NV raised its stake in shares of Hawaiian Electric Industries by 34.8% during the 3rd quarter. KBC Group NV now owns 3,956 shares of the utilities provider’s stock valued at $38,000 after purchasing an additional 1,021 shares during the period. UMB Bank n.a. bought a new position in Hawaiian Electric Industries in the 3rd quarter valued at $42,000. Finally, Quarry LP raised its holdings in shares of Hawaiian Electric Industries by 156.6% in the 3rd quarter. Quarry LP now owns 4,503 shares of the utilities provider’s stock valued at $44,000 after acquiring an additional 2,748 shares in the last quarter. 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.