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

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

Other equities research analysts have also issued reports about the stock. StockNews.com lowered shares of Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a research report on Friday. Evercore ISI dropped their price objective on shares of 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. Finally, Wells Fargo & Company cut their price objective on Hawaiian Electric Industries from $14.00 to $11.50 and set an “equal weight” rating for the company in a research report on Monday, September 30th.

Hawaiian Electric Industries Stock Down 1.3 %

HE 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 stock has a market capitalization of $1.61 billion, a P/E ratio of -0.79 and a beta of 0.53. The business has a 50 day simple moving average of $10.19 and a 200-day simple moving average of $11.06.

Hawaiian Electric Industries (NYSE:HE) last announced its quarterly earnings results 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). Hawaiian Electric Industries had a negative net margin of 35.38% and a positive return on equity of 11.12%. The company had revenue of $983.38 million during the quarter. During the same period in the previous year, the company earned $0.37 EPS. The firm’s quarterly revenue was up 9.0% on a year-over-year basis. On average, equities analysts anticipate that Hawaiian Electric Industries will post 1.71 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Hawaiian Electric Industries

Several institutional investors and hedge funds have recently modified their holdings of the company. Bank of New York Mellon Corp boosted its holdings in shares of Hawaiian Electric Industries by 23.2% during the second quarter. Bank of New York Mellon Corp now owns 638,156 shares of the utilities provider’s stock worth $5,756,000 after purchasing an additional 120,208 shares during the last quarter. Principal Financial Group Inc. purchased a new stake in Hawaiian Electric Industries in the 2nd quarter valued at about $98,000. Van ECK Associates Corp grew its holdings in Hawaiian Electric Industries by 9.5% in the 2nd quarter. Van ECK Associates Corp now owns 28,481 shares of the utilities provider’s stock valued at $257,000 after buying an additional 2,482 shares during the period. Rhumbline Advisers increased its stake in shares of Hawaiian Electric Industries by 56.2% during the 2nd quarter. Rhumbline Advisers now owns 175,675 shares of the utilities provider’s stock valued at $1,585,000 after acquiring an additional 63,241 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in shares of Hawaiian Electric Industries by 62.0% during the 2nd quarter. Victory Capital Management Inc. now owns 62,952 shares of the utilities provider’s stock worth $568,000 after acquiring an additional 24,087 shares during the period. 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.