Hawaiian Electric Industries (NYSE:HE) Coverage Initiated by Analysts at Barclays

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

Other equities analysts have also issued reports about the company. 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 report on Friday, January 3rd. Evercore ISI lowered their price target on Hawaiian Electric Industries from $11.00 to $10.00 and set an “in-line” rating for the company in a report on Tuesday, November 19th. Finally, StockNews.com lowered Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a report on Wednesday, January 29th. One research analyst has rated the stock with a sell rating and four have given a hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $10.50.

Hawaiian Electric Industries Price Performance

NYSE HE opened at $9.47 on Thursday. Hawaiian Electric Industries has a 1-year low of $7.61 and a 1-year high of $18.19. The company has a quick ratio of 0.18, a current ratio of 0.18 and a debt-to-equity ratio of 1.80. The business’s 50-day simple moving average is $9.57 and its 200-day simple moving average is $10.91.

Hawaiian Electric Industries (NYSE:HE) last released 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). The company 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 business’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.37 earnings per share. On average, research analysts anticipate that Hawaiian Electric Industries will post 1.71 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Edgestream Partners L.P. acquired a new position in shares of Hawaiian Electric Industries during the 4th quarter valued at about $1,769,000. Inceptionr LLC acquired a new position in shares of Hawaiian Electric Industries in the 4th quarter worth approximately $197,000. Raymond James Financial Inc. acquired a new stake in Hawaiian Electric Industries during the 4th quarter valued at $342,000. Arizona State Retirement System increased its holdings in Hawaiian Electric Industries by 50.2% during the 4th quarter. Arizona State Retirement System now owns 47,699 shares of the utilities provider’s stock valued at $464,000 after purchasing an additional 15,937 shares in the last quarter. Finally, Aigen Investment Management LP acquired a new stake in Hawaiian Electric Industries during the 4th quarter valued at $203,000. 59.91% of the stock is owned by institutional investors and hedge funds.

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.