Hawaiian Electric Industries (NYSE:HE) Given New $12.50 Price Target 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 sent to investors on Thursday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the utilities provider’s stock.

A number of other analysts also recently weighed in on HE. Jefferies Financial Group reduced their price target on shares of Hawaiian Electric Industries from $11.50 to $10.50 and set a “hold” rating for the company in a report on Friday, January 3rd. StockNews.com lowered shares of Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a research report on Tuesday, February 11th. Barclays began coverage on Hawaiian Electric Industries in a research report on Thursday, February 6th. They set an “equal weight” rating and a $10.00 target price on the stock. 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 report on Tuesday, November 19th. One analyst has rated the stock with a sell rating and four have given a hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $10.75.

Hawaiian Electric Industries Trading Down 0.6 %

Shares of NYSE:HE opened at $10.72 on Thursday. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.18 and a current ratio of 0.18. The stock’s 50-day moving average is $9.62 and its 200-day moving average is $10.30. The company has a market cap of $1.85 billion, a P/E ratio of -0.91 and a beta of 0.53. 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 released its earnings results on Friday, February 21st. The utilities provider reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.19). Hawaiian Electric Industries had a negative net margin of 35.38% and a positive return on equity of 11.12%. The business had revenue of $799.18 million during the quarter. Equities research analysts predict that Hawaiian Electric Industries will post 1.71 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in HE. Virtu Financial LLC bought a new stake in shares of Hawaiian Electric Industries in the 3rd quarter valued at approximately $821,000. FORA Capital LLC bought a new stake in Hawaiian Electric Industries in the third quarter valued at $692,000. Franklin Resources Inc. lifted its holdings in shares of Hawaiian Electric Industries by 656.7% during the third quarter. Franklin Resources Inc. now owns 2,722,668 shares of the utilities provider’s stock valued at $27,499,000 after acquiring an additional 2,362,863 shares during the period. FMR LLC boosted its stake in shares of Hawaiian Electric Industries by 7,986.3% in the 3rd quarter. FMR LLC now owns 5,340,679 shares of the utilities provider’s stock valued at $51,698,000 after purchasing an additional 5,274,633 shares in the last quarter. Finally, Fernwood Investment Management LLC grew its holdings in shares of Hawaiian Electric Industries by 82.8% in the 3rd quarter. Fernwood Investment Management LLC now owns 133,175 shares of the utilities provider’s stock worth $1,289,000 after purchasing an additional 60,335 shares during the last quarter. Institutional investors and hedge funds 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.