Jefferies Financial Group Lowers Hawaiian Electric Industries (NYSE:HE) Price Target to $10.50

Hawaiian Electric Industries (NYSE:HE) had its price target decreased by Jefferies Financial Group from $11.50 to $10.50 in a research note issued on Friday,Benzinga reports. The brokerage currently has a “hold” rating on the utilities provider’s stock. Jefferies Financial Group’s price objective would suggest a potential upside of 12.54% from the company’s current price.

A number of other equities analysts have also recently weighed in on HE. Evercore ISI lowered their price target on Hawaiian Electric Industries from $11.00 to $10.00 and set an “in-line” rating for the company in a report on Tuesday, November 19th. 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. Finally, StockNews.com downgraded shares of Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a research note on Friday.

Hawaiian Electric Industries Stock Performance

Shares of Hawaiian Electric Industries stock opened at $9.33 on Friday. Hawaiian Electric Industries has a one year low of $7.61 and a one year high of $18.19. The company has a market cap of $1.61 billion, a price-to-earnings ratio of -0.79 and a beta of 0.53. The business’s 50 day moving average price is $10.19 and its 200 day moving average price is $11.05. 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 data on Friday, November 8th. The utilities provider reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.07). The firm had revenue of $983.38 million for 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 revenue was up 9.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.37 EPS. On average, research analysts predict that Hawaiian Electric Industries will post 1.71 EPS for the current year.

Institutional Trading of Hawaiian Electric Industries

Several hedge funds have recently made changes to their positions in the business. KBC Group NV boosted its position in Hawaiian Electric Industries by 34.8% in the 3rd 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 period. IMS Capital Management grew its stake in Hawaiian Electric Industries by 2.5% during the 2nd quarter. IMS Capital Management now owns 51,957 shares of the utilities provider’s stock worth $469,000 after purchasing an additional 1,257 shares in the last quarter. Oppenheimer & Co. Inc. increased its holdings in Hawaiian Electric Industries by 5.7% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 32,775 shares of the utilities provider’s stock worth $317,000 after purchasing an additional 1,775 shares during the period. Van ECK Associates Corp boosted its stake in shares of Hawaiian Electric Industries by 9.5% in the 2nd quarter. Van ECK Associates Corp now owns 28,481 shares of the utilities provider’s stock valued at $257,000 after buying an additional 2,482 shares during the period. Finally, Quarry LP grew its position 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 worth $44,000 after buying an additional 2,748 shares in the last quarter. Institutional investors and hedge funds 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.