Barclays Forecasts Strong Price Appreciation for Hawaiian Electric Industries (NYSE:HE) Stock

Hawaiian Electric Industries (NYSE:HE) had its price target increased by Barclays from $10.00 to $11.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the utilities provider’s stock. Barclays‘s target price would suggest a potential upside of 5.31% from the company’s previous close.

Several other equities research analysts have also recently issued reports on the company. Evercore ISI reduced their target price on Hawaiian Electric Industries from $11.00 to $10.00 and set an “in-line” rating on the stock in a report on Tuesday, November 19th. Jefferies Financial Group reduced their price objective on Hawaiian Electric Industries from $11.50 to $10.50 and set a “hold” rating on the stock in a research note on Friday, January 3rd. Wells Fargo & Company boosted their price objective on Hawaiian Electric Industries from $11.00 to $12.50 and gave the stock an “equal weight” rating in a research note on Thursday, February 27th. Finally, StockNews.com cut Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a research note on Tuesday, February 11th. One research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $11.00.

Hawaiian Electric Industries Price Performance

NYSE HE opened at $10.45 on Tuesday. The company has a market capitalization of $1.80 billion, a PE ratio of -0.88 and a beta of 0.46. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.18 and a current ratio of 0.18. The business’s fifty day moving average is $9.70 and its 200 day moving average is $10.20. Hawaiian Electric Industries has a fifty-two week low of $7.61 and a fifty-two week high of $18.19.

Hawaiian Electric Industries (NYSE:HE) last released its earnings results on Friday, February 21st. The utilities provider reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.19). Hawaiian Electric Industries had a negative net margin of 35.38% and a positive return on equity of 11.12%. The company had revenue of $799.18 million for the quarter. Sell-side analysts predict that Hawaiian Electric Industries will post 1.71 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Blue Trust Inc. grew its stake in shares of Hawaiian Electric Industries by 203.0% during the fourth quarter. Blue Trust Inc. now owns 3,078 shares of the utilities provider’s stock valued at $30,000 after buying an additional 2,062 shares during the last quarter. R Squared Ltd bought a new position in shares of Hawaiian Electric Industries during the fourth quarter valued at approximately $36,000. KBC Group NV grew its stake in shares of Hawaiian Electric Industries by 34.8% during the third quarter. KBC Group NV now owns 3,956 shares of the utilities provider’s stock valued at $38,000 after buying an additional 1,021 shares during the last quarter. Comerica Bank grew its stake in shares of Hawaiian Electric Industries by 69.3% during the fourth quarter. Comerica Bank now owns 4,189 shares of the utilities provider’s stock valued at $41,000 after buying an additional 1,715 shares during the last quarter. Finally, Quarry LP grew its stake in shares of Hawaiian Electric Industries by 156.6% during the third quarter. Quarry LP now owns 4,503 shares of the utilities provider’s stock valued at $44,000 after buying an additional 2,748 shares during the last quarter. Institutional investors own 59.91% of the company’s stock.

Hawaiian Electric Industries Company Profile

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.