Hawaiian Electric Industries, Inc. (NYSE:HE) Stock Has Consensus Target Price of $8.25

Hawaiian Electric Industries, Inc. (NYSE:HE) has earned a consensus recommendation of “Strong Sell” from the five ratings firms that are presently covering the stock, Marketbeat reports. Four equities research analysts have rated the stock with a sell recommendation and one has given a hold recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $7.67.

Several brokerages recently issued reports on HE. Weiss Ratings lowered shares of Hawaiian Electric Industries from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, September 25th. LADENBURG THALM/SH SH began coverage on shares of Hawaiian Electric Industries in a research note on Tuesday, September 8th. They issued a “sell” rating and a $7.00 price objective for the company. Barclays cut their target price on shares of Hawaiian Electric Industries from $12.00 to $9.00 and set an “equal weight” rating on the stock in a research report on Wednesday, September 30th. Jefferies Financial Group lowered their price target on shares of Hawaiian Electric Industries from $8.75 to $7.00 and set an “underperform” rating for the company in a report on Tuesday. Finally, Zacks Research cut Hawaiian Electric Industries from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 11th.

Hawaiian Electric Industries Stock Performance

NYSE:HE opened at $8.77 on Friday. The stock’s 50-day simple moving average is $10.64 and its 200 day simple moving average is $12.86. The firm has a market capitalization of $1.51 billion, a PE ratio of 6.74 and a beta of 0.49. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 1.57. Hawaiian Electric Industries has a twelve month low of $8.65 and a twelve month high of $17.38.

Hawaiian Electric Industries (NYSE:HE) last issued its earnings results on Friday, August 7th. The utilities provider reported $0.13 EPS for the quarter, missing the consensus estimate of $0.21 by ($0.08). The business had revenue of $939.70 million for the quarter, compared to analyst estimates of $939.70 million. Hawaiian Electric Industries had a return on equity of 7.90% and a net margin of 6.89%. During the same period in the previous year, the firm posted $0.15 EPS. On average, analysts anticipate that Hawaiian Electric Industries will post 0.80 EPS for the current fiscal year.

Hedge Funds Weigh In On Hawaiian Electric Industries

A number of institutional investors and hedge funds have recently bought and sold shares of HE. BlackRock Inc. bought a new position in Hawaiian Electric Industries during the 2nd quarter worth $358,318,000. Horizon Kinetics Asset Management LLC grew its position 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 valued at $238,526,000 after buying an additional 1,134,646 shares during the last quarter. Quantinno Capital Management LP increased its stake in shares of Hawaiian Electric Industries by 8.3% in the first quarter. Quantinno Capital Management LP now owns 3,512,517 shares of the utilities provider’s stock valued at $52,126,000 after buying an additional 270,546 shares during the period. Bank of America Corp DE increased its stake in shares of Hawaiian Electric Industries by 111.6% in the first quarter. Bank of America Corp DE now owns 2,734,135 shares of the utilities provider’s stock valued at $40,575,000 after buying an additional 1,442,031 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in shares of Hawaiian Electric Industries by 15.9% during the first quarter. Dimensional Fund Advisors LP now owns 2,563,708 shares of the utilities provider’s stock worth $38,045,000 after acquiring an additional 351,602 shares during the last quarter. Institutional investors and hedge funds own 59.91% of the company’s stock.

About Hawaiian Electric Industries

Hawaiian Electric Industries, Inc (NYSE: HE) is a Hawaii-based holding company whose principal business is the generation, transmission, distribution and sale of electricity through its operating utility subsidiaries. Hawaiian Electric serves customers on the islands of Oahu, Maui, Molokai, Lanai and Hawaii Island.

The company’s electric utilities include Hawaiian Electric Company, Hawaii Electric Light and Maui Electric. Their operations include maintaining the state’s electric grid, integrating renewable energy resources and supporting the transition toward cleaner power generation.