Hawaiian Electric Industries (NYSE:HE) PT Raised to $9.00 at Wells Fargo & Company

Hawaiian Electric Industries (NYSE:HEGet Free Report) had its price target hoisted by equities research analysts at Wells Fargo & Company from $8.50 to $9.00 in a research note issued on Monday, Benzinga reports. The brokerage currently has an “underweight” rating on the utilities provider’s stock. Wells Fargo & Company‘s target price would indicate a potential downside of 18.81% from the company’s previous close.

Several other research firms have also recently weighed in on HE. Evercore ISI boosted their target price on Hawaiian Electric Industries from $7.00 to $11.00 and gave the stock an “in-line” rating in a research note on Thursday, February 15th. StockNews.com upgraded Hawaiian Electric Industries from a “sell” rating to a “hold” rating in a research report on Monday, April 15th. Two equities research analysts have rated the stock with a sell rating and two have given a hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $11.63.

View Our Latest Report on HE

Hawaiian Electric Industries Trading Up 0.9 %

NYSE:HE opened at $11.09 on Monday. The stock has a fifty day moving average price of $10.79 and a 200 day moving average price of $12.42. The company has a current ratio of 0.13, a quick ratio of 0.13 and a debt-to-equity ratio of 1.21. Hawaiian Electric Industries has a 12-month low of $8.74 and a 12-month high of $40.16. The firm has a market cap of $1.22 billion, a PE ratio of 6.56 and a beta of 0.55.

Hawaiian Electric Industries (NYSE:HEGet Free Report) last posted its earnings results on Tuesday, February 13th. The utilities provider reported $0.48 EPS for the quarter, meeting the consensus estimate of $0.48. The firm had revenue of $961.40 million for the quarter. Hawaiian Electric Industries had a return on equity of 9.69% and a net margin of 5.16%. The business’s quarterly revenue was down 5.7% compared to the same quarter last year. During the same period last year, the company earned $0.52 EPS.

Hedge Funds Weigh In On Hawaiian Electric Industries

A number of hedge funds and other institutional investors have recently made changes to their positions in HE. Gladius Capital Management LP boosted its holdings in shares of Hawaiian Electric Industries by 686.9% in the fourth quarter. Gladius Capital Management LP now owns 2,109 shares of the utilities provider’s stock valued at $30,000 after acquiring an additional 1,841 shares in the last quarter. Fidelis Capital Partners LLC acquired a new position in Hawaiian Electric Industries during the 1st quarter worth approximately $42,000. Cape Investment Advisory Inc. purchased a new position in shares of Hawaiian Electric Industries during the 4th quarter worth approximately $43,000. GAMMA Investing LLC purchased a new position in shares of Hawaiian Electric Industries during the 4th quarter worth approximately $67,000. Finally, Newbridge Financial Services Group Inc. lifted its holdings in shares of Hawaiian Electric Industries by 172.7% in the 1st quarter. Newbridge Financial Services Group Inc. now owns 7,500 shares of the utilities provider’s stock valued at $85,000 after buying an additional 4,750 shares during the period. Hedge funds and other institutional investors own 59.91% of the company’s stock.

About Hawaiian Electric Industries

(Get Free Report)

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.

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