Hawaiian Electric Industries (NYSE:HE) PT Lowered to $11.50 at Wells Fargo & Company

Hawaiian Electric Industries (NYSE:HE) had its target price reduced by investment analysts at Wells Fargo & Company from $14.00 to $11.50 in a report released on Monday, Benzinga reports. The firm currently has an “equal weight” rating on the utilities provider’s stock. Wells Fargo & Company‘s price objective indicates a potential upside of 25.96% from the stock’s previous close.

Several other brokerages have also recently weighed in on HE. Evercore ISI reduced their target price on shares of Hawaiian Electric Industries from $16.00 to $9.00 and set an “in-line” rating on the stock in a report on Tuesday, September 24th. StockNews.com lowered shares of Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a report on Wednesday, September 25th.

Hawaiian Electric Industries Stock Down 5.7 %

Hawaiian Electric Industries stock opened at $9.13 on Monday. The firm has a market capitalization of $1.01 billion, a P/E ratio of 5.53 and a beta of 0.55. The company has a current ratio of 0.11, a quick ratio of 0.11 and a debt-to-equity ratio of 2.62. Hawaiian Electric Industries has a twelve month low of $7.61 and a twelve month high of $18.19. The stock’s fifty day simple moving average is $12.83 and its 200-day simple moving average is $11.33.

Hawaiian Electric Industries (NYSE:HE) last issued its quarterly earnings results on Friday, August 9th. The utilities provider reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.05). The company had revenue of $792.30 million for the quarter. Hawaiian Electric Industries had a positive return on equity of 10.69% and a negative net margin of 31.76%. The company’s quarterly revenue was down .2% on a year-over-year basis.

Institutional Trading of Hawaiian Electric Industries

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HE. Mitsubishi UFJ Trust & Banking Corp grew its position in shares of Hawaiian Electric Industries by 31.2% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 13,265 shares of the utilities provider’s stock valued at $147,000 after buying an additional 3,156 shares during the last quarter. Fidelis Capital Partners LLC purchased a new position in shares of Hawaiian Electric Industries during the first quarter worth about $42,000. State Board of Administration of Florida Retirement System increased its position in shares of Hawaiian Electric Industries by 18.4% during the first quarter. State Board of Administration of Florida Retirement System now owns 156,734 shares of the utilities provider’s stock worth $1,766,000 after purchasing an additional 24,328 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Hawaiian Electric Industries by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 11,059,244 shares of the utilities provider’s stock valued at $124,638,000 after purchasing an additional 160,815 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its holdings in shares of Hawaiian Electric Industries by 470.4% in the 1st quarter. Acadian Asset Management LLC now owns 10,780 shares of the utilities provider’s stock valued at $121,000 after purchasing an additional 8,890 shares during the last quarter. Institutional investors and hedge funds own 59.91% of the company’s stock.

Hawaiian Electric Industries Company Profile

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.