Investment analysts at Bank of America Corporation began coverage on shares of Hawaiian Electric Industries, Inc. (NYSE:HE) in a report released on Tuesday, October 24th, MarketBeat reports. The brokerage set an “underperform” rating and a $34.00 price target on the utilities provider’s stock. Bank of America Corporation’s target price would suggest a potential downside of 6.16% from the company’s previous close.
A number of other research analysts have also weighed in on the company. Zacks Investment Research lowered Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a research report on Friday, October 13th. J P Morgan Chase & Co raised their price objective on Hawaiian Electric Industries from $33.00 to $34.00 and gave the company a “neutral” rating in a research report on Thursday, October 12th. Finally, BidaskClub raised Hawaiian Electric Industries from a “sell” rating to a “hold” rating in a research report on Saturday, August 26th. Four analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. Hawaiian Electric Industries currently has a consensus rating of “Sell” and a consensus target price of $32.33.
Hawaiian Electric Industries (NYSE HE) traded down $0.17 on Tuesday, hitting $36.23. The stock had a trading volume of 913,300 shares, compared to its average volume of 406,426. The stock has a market cap of $3,941.32, a PE ratio of 22.23, a PEG ratio of 5.23 and a beta of 0.49. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.77. Hawaiian Electric Industries has a 52 week low of $28.92 and a 52 week high of $36.81.
Hawaiian Electric Industries (NYSE:HE) last released its earnings results on Thursday, November 2nd. The utilities provider reported $0.55 EPS for the quarter, missing the Zacks’ consensus estimate of $0.57 by ($0.02). The firm had revenue of $673.19 million during the quarter, compared to analysts’ expectations of $648.93 million. Hawaiian Electric Industries had a net margin of 7.14% and a return on equity of 8.64%. The company’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.58 EPS. sell-side analysts predict that Hawaiian Electric Industries will post 1.63 EPS for the current fiscal year.
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In other Hawaiian Electric Industries news, Director Thomas B. Fargo sold 5,500 shares of Hawaiian Electric Industries stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $36.46, for a total value of $200,530.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.90% of the stock is owned by company insiders.
Several institutional investors have recently bought and sold shares of the business. FUKOKU MUTUAL LIFE INSURANCE Co bought a new stake in shares of Hawaiian Electric Industries in the second quarter worth $123,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Hawaiian Electric Industries by 8.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,859 shares of the utilities provider’s stock worth $125,000 after acquiring an additional 297 shares during the period. Ffcm LLC grew its holdings in shares of Hawaiian Electric Industries by 121.0% in the second quarter. Ffcm LLC now owns 4,826 shares of the utilities provider’s stock worth $157,000 after acquiring an additional 2,642 shares during the period. TLP Group LLC grew its holdings in shares of Hawaiian Electric Industries by 818.4% in the second quarter. TLP Group LLC now owns 5,391 shares of the utilities provider’s stock worth $175,000 after acquiring an additional 4,804 shares during the period. Finally, CKW Financial Group grew its holdings in shares of Hawaiian Electric Industries by 41.5% in the second quarter. CKW Financial Group now owns 6,136 shares of the utilities provider’s stock worth $199,000 after acquiring an additional 1,801 shares during the period. 48.22% of the stock is owned by institutional investors and hedge funds.
Hawaiian Electric Industries Company Profile
Hawaiian Electric Industries, Inc is a holding company with its principal subsidiaries engaged in electric utility and banking businesses operating primarily in the State of Hawaii. The Company’s subsidiaries include Hawaiian Electric Company, Inc (Hawaiian Electric) and ASB Hawaii, Inc (ASB Hawaii).
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