UBS Group Raises Hawaiian Electric Industries (NYSE:HE) Price Target to $37.00

Hawaiian Electric Industries (NYSE:HE) had its target price boosted by UBS Group from $35.00 to $37.00 in a research report released on Friday morning, BenzingaRatingsTable reports. UBS Group currently has a sell rating on the utilities provider’s stock.

HE has been the subject of a number of other reports. Zacks Investment Research raised Hawaiian Electric Industries from a sell rating to a hold rating and set a $47.00 target price for the company in a research report on Friday, September 6th. JPMorgan Chase & Co. lowered Hawaiian Electric Industries from a neutral rating to an underweight rating and boosted their target price for the company from $37.00 to $38.00 in a research report on Friday, August 9th. Three investment analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. The stock presently has a consensus rating of Sell and a consensus price target of $38.60.

HE stock opened at $44.30 on Friday. Hawaiian Electric Industries has a 1-year low of $34.78 and a 1-year high of $45.60. The firm has a market cap of $4.86 billion, a PE ratio of 23.95, a price-to-earnings-growth ratio of 5.98 and a beta of 0.21. The stock has a 50-day moving average price of $44.38 and a 200-day moving average price of $42.54. The company has a current ratio of 0.08, a quick ratio of 0.08 and a debt-to-equity ratio of 0.96.

Hawaiian Electric Industries (NYSE:HE) last issued its earnings results on Friday, August 2nd. The utilities provider reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.05). Hawaiian Electric Industries had a net margin of 7.07% and a return on equity of 9.47%. The firm had revenue of $715.49 million during the quarter, compared to the consensus estimate of $592.84 million. During the same period in the previous year, the firm earned $0.42 earnings per share. On average, analysts forecast that Hawaiian Electric Industries will post 1.88 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Thursday, August 22nd were given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 2.89%. The ex-dividend date was Wednesday, August 21st. Hawaiian Electric Industries’s payout ratio is 69.19%.

In other Hawaiian Electric Industries news, Director Jeffrey N. Watanabe sold 5,700 shares of Hawaiian Electric Industries stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $44.21, for a total transaction of $251,997.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Micah A. Kane sold 2,800 shares of Hawaiian Electric Industries stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $44.60, for a total value of $124,880.00. The disclosure for this sale can be found here. Insiders own 0.94% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the business. Signaturefd LLC boosted its stake in Hawaiian Electric Industries by 60.9% during the 1st quarter. Signaturefd LLC now owns 872 shares of the utilities provider’s stock valued at $36,000 after purchasing an additional 330 shares during the last quarter. Personal Wealth Partners acquired a new position in Hawaiian Electric Industries during the 2nd quarter valued at about $48,000. Flagship Harbor Advisors LLC boosted its stake in Hawaiian Electric Industries by 153.7% during the 2nd quarter. Flagship Harbor Advisors LLC now owns 1,139 shares of the utilities provider’s stock valued at $49,000 after purchasing an additional 690 shares during the last quarter. Westside Investment Management Inc. acquired a new position in Hawaiian Electric Industries during the 2nd quarter valued at about $52,000. Finally, CWM LLC boosted its stake in Hawaiian Electric Industries by 40.0% during the 2nd quarter. CWM LLC now owns 1,329 shares of the utilities provider’s stock valued at $58,000 after purchasing an additional 380 shares during the last quarter. Institutional investors and hedge funds own 54.12% of the company’s stock.

About Hawaiian Electric Industries

Hawaiian Electric Industries, Inc, through its subsidiaries, engages in the electric utility and banking businesses primarily in the state of Hawaii. The company's Electric Utility segment is involved in generating, purchasing, transmitting, distributing, and selling electric energy. Its renewable energy sources and potential sources include wind, solar, photovoltaic, geothermal, wave, hydroelectric, municipal waste, and other bio fuels.

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