Hawaiian Electric Industries (NYSE:HE) Coverage Initiated at Jefferies Financial Group

Jefferies Financial Group assumed coverage on shares of Hawaiian Electric Industries (NYSE:HE) in a research note issued on Tuesday, Marketbeat.com reports. The firm set a “hold” rating and a $11.50 price target on the utilities provider’s stock. Jefferies Financial Group’s price target would indicate a potential upside of 12.36% from the company’s current price.

HE has been the subject of a number of other reports. Wells Fargo & Company lowered their target price on shares of Hawaiian Electric Industries from $14.00 to $11.50 and set an “equal weight” rating for the company in a research note on Monday, September 30th. Evercore ISI lowered their target price on shares of Hawaiian Electric Industries from $11.00 to $10.00 and set an “in-line” rating for the company in a research note on Tuesday, November 19th. Finally, StockNews.com lowered shares of Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a research note on Friday, October 4th.

Hawaiian Electric Industries Trading Up 0.5 %

Shares of HE opened at $10.24 on Tuesday. The company’s fifty day moving average is $10.12 and its 200 day moving average is $11.13. Hawaiian Electric Industries has a fifty-two week low of $7.61 and a fifty-two week high of $18.19. The stock has a market capitalization of $1.77 billion, a PE ratio of -0.87 and a beta of 0.53. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.18 and a current ratio of 0.18.

Hawaiian Electric Industries (NYSE:HE) last announced its quarterly earnings results on Friday, November 8th. The utilities provider reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.07). Hawaiian Electric Industries had a positive return on equity of 11.12% and a negative net margin of 35.38%. The business had revenue of $983.38 million during the quarter. During the same quarter in the previous year, the company earned $0.37 EPS. The business’s revenue was up 9.0% compared to the same quarter last year.

Hedge Funds Weigh In On Hawaiian Electric Industries

Institutional investors have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD lifted its stake in Hawaiian Electric Industries by 4.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 79,562 shares of the utilities provider’s stock worth $897,000 after purchasing an additional 3,551 shares during the last quarter. Public Employees Retirement System of Ohio increased its position in Hawaiian Electric Industries by 22.2% during the first quarter. Public Employees Retirement System of Ohio now owns 75,286 shares of the utilities provider’s stock worth $848,000 after buying an additional 13,660 shares during the period. Cetera Advisors LLC acquired a new position in Hawaiian Electric Industries during the first quarter worth approximately $182,000. GAMMA Investing LLC increased its position in Hawaiian Electric Industries by 82.3% during the second quarter. GAMMA Investing LLC now owns 9,540 shares of the utilities provider’s stock worth $86,000 after buying an additional 4,308 shares during the period. Finally, CWM LLC increased its position in Hawaiian Electric Industries by 153.1% during the second quarter. CWM LLC now owns 23,540 shares of the utilities provider’s stock worth $212,000 after buying an additional 14,240 shares during the period. 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.