Hawaiian Electric Industries (NYSE:HE) Price Target Increased to $42.00 by Analysts at Wells Fargo & Company

Hawaiian Electric Industries (NYSE:HEGet Rating) had its price objective upped by Wells Fargo & Company from $39.00 to $42.00 in a research note published on Tuesday morning, Benzinga reports. Wells Fargo & Company currently has an underweight rating on the utilities provider’s stock.

Other research analysts have also issued research reports about the stock. Evercore ISI set a $36.00 price target on shares of Hawaiian Electric Industries in a research report on Thursday, November 24th. Guggenheim decreased their price target on shares of Hawaiian Electric Industries from $41.00 to $36.00 in a research report on Monday, October 24th. Finally, StockNews.com assumed coverage on shares of Hawaiian Electric Industries in a research report on Wednesday, October 12th. They issued a hold rating on the stock.

Hawaiian Electric Industries Price Performance

NYSE HE opened at $41.92 on Tuesday. Hawaiian Electric Industries has a 12 month low of $33.18 and a 12 month high of $44.72. The company has a debt-to-equity ratio of 1.12, a current ratio of 0.08 and a quick ratio of 0.08. The firm has a market capitalization of $4.59 billion, a PE ratio of 19.23, a P/E/G ratio of 7.37 and a beta of 0.39. The company’s 50 day simple moving average is $40.49 and its 200 day simple moving average is $39.64.

Hawaiian Electric Industries (NYSE:HEGet Rating) last posted its quarterly earnings results on Monday, November 7th. The utilities provider reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.03. The firm had revenue of $1.04 billion for the quarter. Hawaiian Electric Industries had a net margin of 6.88% and a return on equity of 10.57%. As a group, equities research analysts forecast that Hawaiian Electric Industries will post 2.13 EPS for the current fiscal year.

Hawaiian Electric Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 9th. Investors of record on Tuesday, November 22nd were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 3.34%. The ex-dividend date of this dividend was Monday, November 21st. Hawaiian Electric Industries’s dividend payout ratio is 64.22%.

Hedge Funds Weigh In On Hawaiian Electric Industries

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Quadrant Capital Group LLC boosted its stake in Hawaiian Electric Industries by 414.0% in the 2nd quarter. Quadrant Capital Group LLC now owns 622 shares of the utilities provider’s stock worth $25,000 after purchasing an additional 501 shares during the period. WASHINGTON TRUST Co acquired a new stake in shares of Hawaiian Electric Industries during the 3rd quarter valued at $26,000. Trust Co. of Vermont acquired a new stake in shares of Hawaiian Electric Industries during the 2nd quarter valued at $30,000. Lazard Asset Management LLC boosted its stake in shares of Hawaiian Electric Industries by 1,468.6% during the 2nd quarter. Lazard Asset Management LLC now owns 800 shares of the utilities provider’s stock valued at $32,000 after buying an additional 749 shares during the period. Finally, Ronald Blue Trust Inc. boosted its stake in shares of Hawaiian Electric Industries by 212.9% during the 3rd quarter. Ronald Blue Trust Inc. now owns 779 shares of the utilities provider’s stock valued at $32,000 after buying an additional 530 shares during the period. Institutional investors and hedge funds own 52.99% of the company’s stock.

Hawaiian Electric Industries Company Profile

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Hawaiian Electric Industries, Inc, together with its subsidiaries, engages in the electric utility, banking, and renewable/sustainable infrastructure investment businesses in the state of Hawaii. 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.

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