Hawaiian Electric Industries (NYSE:HE) Price Target Lowered to $10.50 at Jefferies Financial Group

Hawaiian Electric Industries (NYSE:HE) had its target price reduced by Jefferies Financial Group from $11.50 to $10.50 in a research note issued to investors on Friday,Benzinga reports. Jefferies Financial Group currently has a hold rating on the utilities provider’s stock.

Several other brokerages also recently issued reports on HE. Wells Fargo & Company lowered their price target on Hawaiian Electric Industries from $14.00 to $11.50 and set an “equal weight” rating for the company in a report on Monday, September 30th. Evercore ISI dropped their target price on Hawaiian Electric Industries from $11.00 to $10.00 and set an “in-line” rating on the stock in a report on Tuesday, November 19th. Finally, StockNews.com cut Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a report on Friday.

Hawaiian Electric Industries Stock Performance

Hawaiian Electric Industries stock opened at $9.33 on Friday. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.18 and a quick ratio of 0.18. Hawaiian Electric Industries has a 12 month low of $7.61 and a 12 month high of $18.19. The company has a market cap of $1.61 billion, a price-to-earnings ratio of -0.79 and a beta of 0.53. The stock’s 50-day moving average is $10.19 and its 200-day moving average is $11.06.

Hawaiian Electric Industries (NYSE:HE) last posted its quarterly earnings results on Friday, November 8th. The utilities provider reported $0.46 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.07). 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 $983.38 million during the quarter. During the same quarter last year, the firm earned $0.37 EPS. The business’s revenue for the quarter was up 9.0% compared to the same quarter last year. Equities analysts anticipate that Hawaiian Electric Industries will post 1.71 earnings per share for the current year.

Hedge Funds Weigh In On Hawaiian Electric Industries

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. KBC Group NV lifted its stake in shares of Hawaiian Electric Industries by 34.8% in the third quarter. KBC Group NV now owns 3,956 shares of the utilities provider’s stock worth $38,000 after acquiring an additional 1,021 shares in the last quarter. UMB Bank n.a. purchased a new position in shares of Hawaiian Electric Industries during the 3rd quarter valued at approximately $42,000. Quarry LP grew its position in shares of Hawaiian Electric Industries by 156.6% during the third quarter. Quarry LP now owns 4,503 shares of the utilities provider’s stock worth $44,000 after buying an additional 2,748 shares in the last quarter. Millburn Ridgefield Corp bought a new stake in shares of Hawaiian Electric Industries in the third quarter worth $55,000. Finally, Quest Partners LLC raised its holdings in Hawaiian Electric Industries by 126.1% in the third quarter. Quest Partners LLC now owns 7,983 shares of the utilities provider’s stock valued at $77,000 after acquiring an additional 4,453 shares in the last quarter. 59.91% of the stock is owned by hedge funds and other institutional investors.

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.