Hawaiian Electric Industries, Inc. (NYSE:HE) Stock Has Average Target Price of $7.67 According to Brokerages

Hawaiian Electric Industries, Inc. (NYSE:HE) has been given an average recommendation of “Strong Sell” by the five ratings firms that are presently covering the company, Marketbeat reports. Three analysts have rated the stock with a sell recommendation and two have assigned a hold recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $7.67.

A number of analysts recently commented on HE shares. LADENBURG THALM/SH SH assumed coverage on shares of Hawaiian Electric Industries in a research note on Tuesday, September 8th. They set a “sell” rating and a $7.00 price target on the stock. Weiss Ratings lowered shares of Hawaiian Electric Industries from a “sell (d+)” rating to a “sell (d)” rating in a research note on Wednesday, October 14th. Jefferies Financial Group reduced their price objective on shares of Hawaiian Electric Industries from $8.75 to $7.00 and set an “underperform” rating for the company in a research note on Tuesday, October 6th. Barclays lowered their target price on shares of Hawaiian Electric Industries from $12.00 to $9.00 and set an “equal weight” rating on the stock in a report on Wednesday, September 30th. Finally, Zacks Research upgraded Hawaiian Electric Industries from a “strong sell” rating to a “hold” rating in a research report on Friday, October 9th.

Institutional Trading of Hawaiian Electric Industries

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. purchased a new stake in Hawaiian Electric Industries during the 2nd quarter worth about $358,318,000. Quantinno Capital Management LP grew its holdings in Hawaiian Electric Industries by 8.3% during the 1st quarter. Quantinno Capital Management LP now owns 3,512,517 shares of the utilities provider’s stock valued at $52,126,000 after buying an additional 270,546 shares in the last quarter. Bank of America Corp DE grew its holdings in Hawaiian Electric Industries by 111.6% during the 1st quarter. Bank of America Corp DE now owns 2,734,135 shares of the utilities provider’s stock valued at $40,575,000 after buying an additional 1,442,031 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Hawaiian Electric Industries by 15.9% during the first quarter. Dimensional Fund Advisors LP now owns 2,563,708 shares of the utilities provider’s stock valued at $38,045,000 after buying an additional 351,602 shares during the period. Finally, Principal Financial Group Inc. increased its position in shares of Hawaiian Electric Industries by 56.8% during the first quarter. Principal Financial Group Inc. now owns 1,290,105 shares of the utilities provider’s stock valued at $19,145,000 after buying an additional 467,312 shares during the period. 59.91% of the stock is currently owned by institutional investors.

Hawaiian Electric Industries Trading Up 1.5%

HE opened at $8.34 on Wednesday. Hawaiian Electric Industries has a twelve month low of $8.15 and a twelve month high of $17.38. The company’s 50-day moving average price is $9.79 and its two-hundred day moving average price is $13.21.

Hawaiian Electric Industries (NYSE:HE) last issued its quarterly earnings results on Friday, August 7th. The utilities provider reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.08). The firm had revenue of $939.70 million for the quarter, compared to the consensus estimate of $939.70 million. During the same period in the prior year, the firm posted $0.15 EPS. Sell-side analysts expect that Hawaiian Electric Industries will post 0.80 EPS for the current fiscal year.

Hawaiian Electric Industries Company Profile

Hawaiian Electric Industries, Inc (NYSE: HE) is a Hawaii-based holding company whose principal business is providing electric utility service across the state. Through its regulated utility subsidiaries—Hawaiian Electric Company, Maui Electric Company and Hawaii Electric Light—the company generates, purchases, transmits, distributes and sells electricity to residential, commercial and industrial customers on the islands of Oahu, Maui, Molokai, Lanai and Hawaii.

The utility uses a combination of renewable and conventional energy resources and supports Hawaii’s transition toward a cleaner electric system.