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

Hawaiian Electric Industries (NYSE:HE) had its price objective upped by investment analysts at Barclays from $13.00 to $14.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has an “equal weight” rating on the utilities provider’s stock. Barclays‘s target price indicates a potential downside of 12.94% from the stock’s current price.

Several other analysts also recently commented on HE. Jefferies Financial Group downgraded Hawaiian Electric Industries from a “hold” rating to an “underperform” rating and lowered their price objective for the stock from $13.50 to $12.50 in a research note on Tuesday, January 20th. Zacks Research raised Hawaiian Electric Industries to a “hold” rating in a research report on Monday, February 9th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Hawaiian Electric Industries in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Hawaiian Electric Industries currently has a consensus rating of “Hold” and a consensus price target of $13.50.

Hawaiian Electric Industries Stock Up 0.6%

Hawaiian Electric Industries stock opened at $16.08 on Monday. Hawaiian Electric Industries has a 1-year low of $9.06 and a 1-year high of $17.38. The firm has a market capitalization of $2.78 billion, a price-to-earnings ratio of 22.65 and a beta of 0.62. The firm’s fifty day moving average price is $14.86 and its two-hundred day moving average price is $12.81. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.79.

Hawaiian Electric Industries (NYSE:HE) last posted its earnings results on Friday, February 27th. The utilities provider reported $0.24 EPS for the quarter, hitting the consensus estimate of $0.24. Hawaiian Electric Industries had a net margin of 4.09% and a return on equity of 9.93%. The company had revenue of $805.82 million during the quarter. On average, equities research analysts predict that Hawaiian Electric Industries will post 1.71 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Hawaiian Electric Industries

Several large investors have recently made changes to their positions in HE. Navalign LLC purchased a new position in shares of Hawaiian Electric Industries in the 4th quarter worth about $25,000. Caitong International Asset Management Co. Ltd raised its position in Hawaiian Electric Industries by 199,800.0% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,999 shares of the utilities provider’s stock worth $25,000 after acquiring an additional 1,998 shares during the period. Northwestern Mutual Wealth Management Co. boosted its stake in Hawaiian Electric Industries by 142.2% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 2,325 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 1,365 shares during the last quarter. Larson Financial Group LLC boosted its stake in Hawaiian Electric Industries by 242.2% in the third quarter. Larson Financial Group LLC now owns 2,741 shares of the utilities provider’s stock valued at $30,000 after acquiring an additional 1,940 shares during the last quarter. Finally, Tucker Asset Management LLC bought a new position in shares of Hawaiian Electric Industries during the 4th quarter valued at approximately $32,000. 59.91% of the stock is owned by hedge funds and other institutional investors.

Hawaiian Electric Industries Company Profile

Hawaiian Electric Industries, Inc is a diversified holding company operating in the energy and financial services sectors in the state of Hawaii. Its principal subsidiary, Hawaiian Electric Company, provides generation, transmission, distribution and customer service to the island of Oahu, while its Maui Electric and Hawaii Electric Light Company subsidiaries serve Maui, Molokai, Lanai and Hawaii Island. The roots of the electric utility business trace back to 1891 when service first commenced in Honolulu.

Through its subsidiary Hawaii Gas, HEI extends its energy portfolio to include the distribution of natural gas and propane, supporting residential, commercial and industrial customers across the islands.