Evercore ISI Issues Positive Forecast for Hawaiian Electric Industries (NYSE:HE) Stock Price

Hawaiian Electric Industries (NYSE:HE) had its price target hoisted by Evercore ISI from $9.00 to $11.00 in a research note issued to investors on Monday,Benzinga reports. Evercore ISI currently has an in-line rating on the utilities provider’s stock.

Several other research analysts have also recently weighed in on the company. Wells Fargo & Company decreased their price target on Hawaiian Electric Industries from $14.00 to $11.50 and set an “equal weight” rating for the company in a research note on Monday, September 30th. StockNews.com cut shares of Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a research note on Friday, October 4th.

Hawaiian Electric Industries Trading Up 2.9 %

Shares of HE traded up $0.29 during mid-day trading on Monday, hitting $10.26. 364,919 shares of the company’s stock traded hands, compared to its average volume of 3,417,834. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 2.62. The firm has a market capitalization of $1.13 billion, a P/E ratio of -0.84 and a beta of 0.53. The business’s 50-day moving average price is $10.44 and its 200-day moving average price is $11.15. Hawaiian Electric Industries has a 1 year low of $7.61 and a 1 year high of $18.19.

Hawaiian Electric Industries (NYSE:HE) last announced its earnings results on Friday, November 8th. The utilities provider reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.07). The firm had revenue of $983.38 million during the quarter. Hawaiian Electric Industries had a positive return on equity of 10.69% and a negative net margin of 31.76%. The business’s quarterly revenue was up 9.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.37 earnings per share.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in HE. Intech Investment Management LLC bought a new stake in Hawaiian Electric Industries in the third quarter worth $239,000. Quest Partners LLC raised its position in Hawaiian Electric Industries by 126.1% during the 3rd quarter. Quest Partners LLC now owns 7,983 shares of the utilities provider’s stock valued at $77,000 after purchasing an additional 4,453 shares in the last quarter. Thrivent Financial for Lutherans bought a new position in Hawaiian Electric Industries during the 3rd quarter worth about $2,233,000. KBC Group NV boosted its position in Hawaiian Electric Industries by 34.8% during the third 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 in the last quarter. Finally, Oppenheimer & Co. Inc. boosted its holdings in shares of Hawaiian Electric Industries by 5.7% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 32,775 shares of the utilities provider’s stock valued at $317,000 after buying an additional 1,775 shares in the last quarter. 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.