Brokerages Set Hawaiian Electric Industries, Inc. (NYSE:HE) Price Target at $13.17

Hawaiian Electric Industries, Inc. (NYSE:HE) has been given an average rating of “Hold” by the five ratings firms that are currently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and one has given a buy recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $13.50.

A number of brokerages recently weighed in on HE. Weiss Ratings upgraded shares of Hawaiian Electric Industries from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday. Barclays boosted their price target on shares of Hawaiian Electric Industries from $13.00 to $14.00 and gave the stock an “equal weight” rating in a research note on Monday. Jefferies Financial Group lowered 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. Finally, Zacks Research raised Hawaiian Electric Industries to a “hold” rating in a report on Monday, February 9th.

Hawaiian Electric Industries Stock Performance

NYSE HE opened at $16.12 on Monday. The company has a quick ratio of 1.35, a current ratio of 1.32 and a debt-to-equity ratio of 1.74. Hawaiian Electric Industries has a twelve month low of $9.06 and a twelve month high of $17.38. The business has a 50-day moving average price of $14.95 and a 200-day moving average price of $12.83. The firm has a market cap of $2.78 billion, a price-to-earnings ratio of 22.70 and a beta of 0.62.

Hawaiian Electric Industries (NYSE:HE) last posted its quarterly earnings results on Friday, February 27th. The utilities provider reported $0.24 EPS for the quarter, hitting analysts’ consensus estimates of $0.24. Hawaiian Electric Industries had a return on equity of 9.82% and a net margin of 4.09%.The company had revenue of $805.82 million for the quarter. As a group, equities research analysts predict that Hawaiian Electric Industries will post 1.71 EPS for the current fiscal year.

Institutional Trading of Hawaiian Electric Industries

Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. increased its position in Hawaiian Electric Industries by 9.2% in the fourth quarter. Vanguard Group Inc. now owns 19,410,325 shares of the utilities provider’s stock worth $238,747,000 after purchasing an additional 1,628,307 shares during the last quarter. Horizon Kinetics Asset Management LLC grew its stake in shares of Hawaiian Electric Industries by 6.2% in the 4th quarter. Horizon Kinetics Asset Management LLC now owns 19,392,363 shares of the utilities provider’s stock worth $238,526,000 after buying an additional 1,134,646 shares in the last quarter. State Street Corp increased its holdings in shares of Hawaiian Electric Industries by 56.9% in the 4th quarter. State Street Corp now owns 7,005,768 shares of the utilities provider’s stock worth $86,171,000 after buying an additional 2,540,134 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Hawaiian Electric Industries by 5.3% during the 4th quarter. Geode Capital Management LLC now owns 4,125,284 shares of the utilities provider’s stock valued at $50,750,000 after buying an additional 209,192 shares in the last quarter. Finally, Franklin Resources Inc. lifted its holdings in shares of Hawaiian Electric Industries by 1.3% in the 2nd quarter. Franklin Resources Inc. now owns 2,744,843 shares of the utilities provider’s stock valued at $29,178,000 after acquiring an additional 34,535 shares during the last quarter. 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.