Jefferies Financial Group Has Lowered Expectations for Hawaiian Electric Industries (NYSE:HE) Stock Price

Hawaiian Electric Industries (NYSE:HE) had its target price reduced by Jefferies Financial Group from $11.50 to $10.50 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has a “hold” rating on the utilities provider’s stock. Jefferies Financial Group’s price objective indicates a potential upside of 12.54% from the company’s previous close.

Other analysts have also issued reports about the stock. 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. StockNews.com downgraded Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a report on Friday. Finally, Wells Fargo & Company lowered their target price on Hawaiian Electric Industries from $14.00 to $11.50 and set an “equal weight” rating for the company in a report on Monday, September 30th.

Hawaiian Electric Industries Stock Performance

Shares of NYSE HE opened at $9.33 on Friday. The firm’s fifty day moving average is $10.19 and its two-hundred day moving average is $11.05. Hawaiian Electric Industries has a 52-week low of $7.61 and a 52-week high of $18.19. The company has a market cap of $1.61 billion, a P/E ratio of -0.79 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 released its quarterly earnings results on Friday, November 8th. The utilities provider reported $0.46 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.07). The company had revenue of $983.38 million during the quarter. Hawaiian Electric Industries had a positive return on equity of 11.12% and a negative net margin of 35.38%. The company’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.37 EPS. As a group, analysts anticipate that Hawaiian Electric Industries will post 1.71 EPS for the current fiscal year.

Institutional Investors Weigh In On Hawaiian Electric Industries

Several hedge funds have recently bought and sold shares of the stock. KBC Group NV raised its stake in shares of Hawaiian Electric Industries by 34.8% during the 3rd quarter. KBC Group NV now owns 3,956 shares of the utilities provider’s stock worth $38,000 after buying an additional 1,021 shares during the period. IMS Capital Management lifted its stake in Hawaiian Electric Industries by 2.5% in the 2nd quarter. IMS Capital Management now owns 51,957 shares of the utilities provider’s stock valued at $469,000 after buying an additional 1,257 shares in the last quarter. Oppenheimer & Co. Inc. boosted its holdings in Hawaiian Electric Industries by 5.7% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 32,775 shares of the utilities provider’s stock worth $317,000 after buying an additional 1,775 shares during the last quarter. Van ECK Associates Corp lifted its position in shares of Hawaiian Electric Industries by 9.5% in the second quarter. Van ECK Associates Corp now owns 28,481 shares of the utilities provider’s stock valued at $257,000 after acquiring an additional 2,482 shares in the last quarter. Finally, Quarry LP boosted its stake in shares of Hawaiian Electric Industries by 156.6% in the third quarter. Quarry LP now owns 4,503 shares of the utilities provider’s stock worth $44,000 after acquiring an additional 2,748 shares during the last quarter. Hedge funds and other institutional investors own 59.91% of the company’s stock.

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.