Hawaiian Electric Industries (NYSE:HE) Price Target Raised to $14.00

Hawaiian Electric Industries (NYSE:HE) had its target price increased by Barclays from $13.00 to $14.00 in a report published on Monday,Benzinga reports. Barclays currently has an equal weight rating on the utilities provider’s stock.

Several other analysts also recently weighed in on HE. Zacks Research raised Hawaiian Electric Industries to a “hold” rating in a research note on Monday, February 9th. Weiss Ratings reissued a “sell (d)” rating on shares of Hawaiian Electric Industries in a research note on Monday, December 29th. Finally, Jefferies Financial Group lowered Hawaiian Electric Industries from a “hold” rating to an “underperform” rating and decreased their price target for the company from $13.50 to $12.50 in a research report on Tuesday, January 20th. One analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Hawaiian Electric Industries has an average rating of “Hold” and an average price target of $13.50.

Hawaiian Electric Industries Stock Up 0.2%

Shares of NYSE:HE opened at $16.12 on Monday. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.35 and a current ratio of 1.32. Hawaiian Electric Industries has a 1 year low of $9.06 and a 1 year high of $17.38. The stock has a 50-day simple moving average of $14.95 and a 200-day simple moving average of $12.83. The stock has a market capitalization of $2.78 billion, a P/E ratio of 22.70 and a beta of 0.62.

Hawaiian Electric Industries (NYSE:HE) last issued its earnings results on Friday, February 27th. The utilities provider reported $0.24 earnings per share for the quarter, hitting the consensus estimate of $0.24. Hawaiian Electric Industries had a return on equity of 9.82% and a net margin of 4.09%.The company had revenue of $805.82 million during the quarter. Equities analysts forecast that Hawaiian Electric Industries will post 1.71 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Y Intercept Hong Kong Ltd boosted its holdings in shares of Hawaiian Electric Industries by 72.9% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 204,200 shares of the utilities provider’s stock worth $2,254,000 after acquiring an additional 86,117 shares in the last quarter. Horizon Kinetics Asset Management LLC boosted its holdings in Hawaiian Electric Industries by 28.6% in the second quarter. Horizon Kinetics Asset Management LLC now owns 16,281,709 shares of the utilities provider’s stock valued at $173,075,000 after acquiring an additional 3,624,709 shares during the last quarter. Inspire Advisors LLC bought a new position in shares of Hawaiian Electric Industries in the 3rd quarter valued at about $1,000,000. Wealth Enhancement Advisory Services LLC acquired a new stake in Hawaiian Electric Industries during the 3rd quarter worth $344,000. Finally, Moors & Cabot Inc. grew its stake in shares of Hawaiian Electric Industries by 119.2% during the second quarter. Moors & Cabot Inc. now owns 225,662 shares of the utilities provider’s stock worth $2,399,000 after purchasing an additional 122,737 shares during the period. 59.91% of the stock is owned by institutional investors.

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.