Hawaiian Electric Industries, Inc. (NYSE:HE) Stock Has Average Target Price of $7.67 According to Brokerages

Shares of Hawaiian Electric Industries, Inc. (NYSE:HE) have been given an average recommendation of “Strong Sell” by the five brokerages that are presently covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a sell recommendation and two have given a hold recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $7.67.

A number of equities analysts recently weighed in on HE shares. Barclays reduced their target price on shares of Hawaiian Electric Industries from $12.00 to $9.00 and set an “equal weight” rating for the company in a research note on Wednesday, September 30th. Weiss Ratings downgraded Hawaiian Electric Industries from a “sell (d+)” rating to a “sell (d)” rating in a research note on Wednesday, October 14th. Jefferies Financial Group cut their price target on Hawaiian Electric Industries from $8.75 to $7.00 and set an “underperform” rating on the stock in a report on Tuesday, October 6th. LADENBURG THALM/SH SH started coverage on Hawaiian Electric Industries in a research report on Tuesday, September 8th. They set a “sell” rating and a $7.00 price objective for the company. Finally, Zacks Research upgraded Hawaiian Electric Industries from a “strong sell” rating to a “hold” rating in a report on Friday, October 9th.

Hawaiian Electric Industries Stock Down 4.1%

Hawaiian Electric Industries stock opened at $8.40 on Wednesday. The company has a 50 day moving average of $9.49 and a 200-day moving average of $13.07. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.57. Hawaiian Electric Industries has a twelve month low of $8.15 and a twelve month high of $17.38. The stock has a market capitalization of $1.45 billion, a PE ratio of 11.84 and a beta of 0.50.

Hawaiian Electric Industries (NYSE:HE) last issued its quarterly earnings data on Friday, August 7th. The utilities provider reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.08). The company had revenue of $939.70 million for the quarter, compared to analyst estimates of $939.70 million. Hawaiian Electric Industries had a return on equity of 7.90% and a net margin of 6.89%. During the same quarter in the previous year, the business earned $0.15 earnings per share. On average, equities research analysts anticipate that Hawaiian Electric Industries will post 0.80 EPS for the current fiscal year.

Institutional Investors Weigh In On Hawaiian Electric Industries

Several institutional investors have recently bought and sold shares of the company. Elevation Wealth Partners LLC raised its holdings in Hawaiian Electric Industries by 961.8% during the third quarter. Elevation Wealth Partners LLC now owns 3,695 shares of the utilities provider’s stock worth $33,000 after acquiring an additional 3,347 shares in the last quarter. Allworth Financial LP bought a new position in Hawaiian Electric Industries in the second quarter valued at approximately $63,000. Global Retirement Partners LLC acquired a new position in shares of Hawaiian Electric Industries during the 2nd quarter worth approximately $67,000. Kelleher Financial Advisors acquired a new position in shares of Hawaiian Electric Industries during the 2nd quarter worth approximately $68,000. Finally, V Square Quantitative Management LLC bought a new stake in shares of Hawaiian Electric Industries during the 3rd quarter worth approximately $54,000. Institutional investors own 59.91% of the company’s stock.

Hawaiian Electric Industries Company Profile

Hawaiian Electric Industries, Inc (NYSE: HE) is a Hawaii-based holding company whose principal business is providing electric utility service across the state. Through its regulated utility subsidiaries—Hawaiian Electric Company, Maui Electric Company and Hawaii Electric Light—the company generates, purchases, transmits, distributes and sells electricity to residential, commercial and industrial customers on the islands of Oahu, Maui, Molokai, Lanai and Hawaii.

The utility uses a combination of renewable and conventional energy resources and supports Hawaii’s transition toward a cleaner electric system.