Hawaiian Electric Industries, Inc. (NYSE:HE) Receives $13.00 Consensus Price Target from Brokerages

Hawaiian Electric Industries, Inc. (NYSE:HE) has earned an average rating of “Hold” from the five research firms that are presently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $13.00.

HE has been the subject of a number of analyst reports. Jefferies Financial Group lowered shares of Hawaiian Electric Industries from a “hold” rating to an “underperform” rating and cut their price objective for the company from $13.50 to $12.50 in a research report on Tuesday, January 20th. Weiss Ratings reissued a “sell (d)” rating on shares of Hawaiian Electric Industries in a research note on Monday, December 29th. Finally, Barclays lifted their price objective on Hawaiian Electric Industries from $11.00 to $13.00 and gave the company a “positive” rating in a research report on Monday, January 26th.

Hawaiian Electric Industries Trading Up 0.4%

Shares of Hawaiian Electric Industries stock opened at $17.06 on Thursday. The business has a 50 day moving average price of $13.34 and a 200 day moving average price of $12.18. The company has a market capitalization of $2.94 billion, a P/E ratio of 213.25 and a beta of 0.63. The company has a debt-to-equity ratio of 1.79, a current ratio of 1.35 and a quick ratio of 1.35. Hawaiian Electric Industries has a 1 year low of $9.06 and a 1 year high of $17.38.

Hawaiian Electric Industries (NYSE:HE) last released its quarterly earnings results on Friday, November 7th. The utilities provider reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.39. The company had revenue of $790.61 million during the quarter. Hawaiian Electric Industries had a return on equity of 9.51% and a net margin of 0.56%. Sell-side analysts anticipate that Hawaiian Electric Industries will post 1.71 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in HE. Navalign LLC purchased a new position in Hawaiian Electric Industries in the 4th quarter worth approximately $25,000. 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 period. Tucker Asset Management LLC acquired a new position in Hawaiian Electric Industries during the 4th quarter valued at approximately $32,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Hawaiian Electric Industries by 37.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 2,682 shares of the utilities provider’s stock valued at $33,000 after acquiring an additional 737 shares during the period. Finally, Larson Financial Group LLC boosted its stake in Hawaiian Electric Industries by 242.2% during the 3rd quarter. Larson Financial Group LLC now owns 2,741 shares of the utilities provider’s stock valued at $30,000 after purchasing an additional 1,940 shares during the period. 59.91% of the stock is owned by hedge funds and other institutional investors.

About Hawaiian Electric Industries

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.