Hawaiian Electric Industries (NYSE:HE) Stock Price Expected to Rise, Barclays Analyst Says

Hawaiian Electric Industries (NYSE:HE) had its price objective hoisted by Barclays from $13.00 to $14.00 in a report issued on Monday,Benzinga reports. The firm currently has an “equal weight” rating on the utilities provider’s stock. Barclays‘s target price would suggest a potential downside of 12.77% from the stock’s current price.

A number of other equities research analysts have also recently issued reports on HE. Zacks Research raised shares of Hawaiian Electric Industries to a “hold” rating in a research note on Monday, February 9th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Hawaiian Electric Industries in a report on Monday, December 29th. Finally, Jefferies Financial Group cut shares of Hawaiian Electric Industries from a “hold” rating to an “underperform” rating and cut their target price for the stock from $13.50 to $12.50 in a research note on Tuesday, January 20th. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus price target of $13.50.

Hawaiian Electric Industries Stock Up 3.6%

Shares of NYSE:HE traded up $0.56 on Monday, reaching $16.05. The company had a trading volume of 951,107 shares, compared to its average volume of 3,114,494. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.79. Hawaiian Electric Industries has a 52-week low of $9.06 and a 52-week high of $17.38. The firm has a market capitalization of $2.77 billion, a PE ratio of 22.44 and a beta of 0.62. The firm’s 50 day simple moving average is $14.69 and its 200-day simple moving average is $12.74.

Hawaiian Electric Industries (NYSE:HE) last announced its quarterly earnings data on Friday, February 27th. The utilities provider reported $0.24 EPS for the quarter, meeting the consensus estimate of $0.24. The business had revenue of $805.82 million during the quarter. Hawaiian Electric Industries had a net margin of 4.09% and a return on equity of 9.93%. As a group, analysts expect that Hawaiian Electric Industries will post 1.71 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Hawaiian Electric Industries

Several institutional investors have recently added to or reduced their stakes in the business. Navalign LLC purchased a new stake in shares of Hawaiian Electric Industries in the fourth quarter valued at about $25,000. Caitong International Asset Management Co. Ltd grew its stake in shares of Hawaiian Electric Industries by 199,800.0% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,999 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 1,998 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Hawaiian Electric Industries by 142.2% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 2,325 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 1,365 shares during the period. Larson Financial Group LLC boosted its holdings in shares of Hawaiian Electric Industries by 242.2% in the third quarter. Larson Financial Group LLC now owns 2,741 shares of the utilities provider’s stock valued at $30,000 after acquiring an additional 1,940 shares in the last quarter. Finally, Tucker Asset Management LLC purchased a new position in Hawaiian Electric Industries during the fourth quarter worth about $32,000. Hedge funds and other institutional investors own 59.91% of the company’s stock.

Hawaiian Electric Industries Company Profile

Hawaiian Electric Industries, Inc is a diversified holding company operating in the energy and financial services sectors in the state of Hawaii. Its principal subsidiary, Hawaiian Electric Company, provides generation, transmission, distribution and customer service to the island of Oahu, while its Maui Electric and Hawaii Electric Light Company subsidiaries serve Maui, Molokai, Lanai and Hawaii Island. The roots of the electric utility business trace back to 1891 when service first commenced in Honolulu.

Through its subsidiary Hawaii Gas, HEI extends its energy portfolio to include the distribution of natural gas and propane, supporting residential, commercial and industrial customers across the islands.