Hawaiian Electric Industries (NYSE:HE) Given New $14.00 Price Target at Wells Fargo & Company

Hawaiian Electric Industries (NYSE:HE) had its price target boosted by investment analysts at Wells Fargo & Company from $9.00 to $14.00 in a note issued to investors on Monday, Benzinga reports. The firm presently has an “underweight” rating on the utilities provider’s stock. Wells Fargo & Company‘s price objective suggests a potential upside of 4.87% from the company’s current price.

Several other equities research analysts have also recently commented on HE. Evercore ISI increased their price target on Hawaiian Electric Industries from $11.00 to $16.00 and gave the company an “in-line” rating in a report on Monday, August 5th. StockNews.com upgraded shares of Hawaiian Electric Industries from a “sell” rating to a “hold” rating in a report on Wednesday, August 7th. Two research analysts have rated the stock with a sell rating and two have issued a hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $14.13.

Hawaiian Electric Industries Trading Down 13.9 %

Shares of Hawaiian Electric Industries stock traded down $2.15 during trading on Monday, hitting $13.35. The stock had a trading volume of 7,675,068 shares, compared to its average volume of 3,131,992. The stock has a market cap of $1.47 billion, a PE ratio of 7.91 and a beta of 0.57. Hawaiian Electric Industries has a 12 month low of $7.61 and a 12 month high of $22.45. The firm’s fifty day simple moving average is $11.89 and its 200-day simple moving average is $11.64. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.11 and a quick ratio of 0.11.

Hawaiian Electric Industries (NYSE:HE) last announced its quarterly earnings data on Friday, August 9th. The utilities provider reported $0.44 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.05). Hawaiian Electric Industries had a net margin of 5.16% and a return on equity of 9.58%. The business had revenue of $792.30 million during the quarter. The business’s quarterly revenue was down .2% on a year-over-year basis.

Hedge Funds Weigh In On Hawaiian Electric Industries

Hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Hawaiian Electric Industries by 1.5% during the first quarter. Vanguard Group Inc. now owns 11,059,244 shares of the utilities provider’s stock valued at $124,638,000 after acquiring an additional 160,815 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Hawaiian Electric Industries by 21.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,621,304 shares of the utilities provider’s stock worth $23,006,000 after acquiring an additional 285,955 shares during the period. Assenagon Asset Management S.A. increased its position in Hawaiian Electric Industries by 10.1% during the first quarter. Assenagon Asset Management S.A. now owns 1,475,102 shares of the utilities provider’s stock worth $16,624,000 after purchasing an additional 135,102 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Hawaiian Electric Industries by 23.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 638,156 shares of the utilities provider’s stock valued at $5,756,000 after purchasing an additional 120,208 shares in the last quarter. Finally, Verition Fund Management LLC acquired a new position in Hawaiian Electric Industries during the 4th quarter worth approximately $8,944,000. 59.91% of the stock is currently 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.