Hawaiian Electric Industries (NYSE:HE) Earns Equal Weight Rating from Analysts at Barclays

Barclays assumed coverage on shares of Hawaiian Electric Industries (NYSE:HE) in a report issued on Thursday,Benzinga reports. The firm issued an equal weight rating and a $10.00 price objective on the utilities provider’s stock.

A number of other research analysts have also recently commented on the company. Evercore ISI dropped their price target on Hawaiian Electric Industries from $11.00 to $10.00 and set an “in-line” rating for the company in a research note on Tuesday, November 19th. StockNews.com downgraded Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a research note on Wednesday, January 29th. Finally, Jefferies Financial Group cut their target price on Hawaiian Electric Industries from $11.50 to $10.50 and set a “hold” rating on the stock in a research note on Friday, January 3rd. One analyst has rated the stock with a sell rating and four have issued a hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $10.50.

Hawaiian Electric Industries Stock Down 0.3 %

HE stock opened at $9.47 on Thursday. The company has a current ratio of 0.18, a quick ratio of 0.18 and a debt-to-equity ratio of 1.80. The business’s 50-day moving average price is $9.57 and its two-hundred day moving average price is $10.91. 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 issued its quarterly earnings data on Friday, November 8th. The utilities provider reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.07). The firm had revenue of $983.38 million for the quarter. Hawaiian Electric Industries had a positive return on equity of 11.12% and a negative net margin of 35.38%. The firm’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.37 EPS. On average, research analysts expect 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 made changes to their positions in HE. The Manufacturers Life Insurance Company increased its stake in shares of Hawaiian Electric Industries by 225.3% during the second quarter. The Manufacturers Life Insurance Company now owns 59,640 shares of the utilities provider’s stock valued at $538,000 after purchasing an additional 41,305 shares in the last quarter. Creative Planning increased its stake in shares of Hawaiian Electric Industries by 203.2% during the second quarter. Creative Planning now owns 70,683 shares of the utilities provider’s stock valued at $638,000 after purchasing an additional 47,372 shares in the last quarter. Truist Financial Corp increased its stake in shares of Hawaiian Electric Industries by 87.5% during the second quarter. Truist Financial Corp now owns 44,326 shares of the utilities provider’s stock valued at $400,000 after purchasing an additional 20,680 shares in the last quarter. SG Americas Securities LLC increased its stake in shares of Hawaiian Electric Industries by 96.2% during the third quarter. SG Americas Securities LLC now owns 37,347 shares of the utilities provider’s stock valued at $362,000 after purchasing an additional 18,312 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of Hawaiian Electric Industries by 236.5% during the third quarter. GAMMA Investing LLC now owns 32,105 shares of the utilities provider’s stock valued at $311,000 after buying an additional 22,565 shares during the last quarter. 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.