Hawaiian Electric Industries, Inc. (NYSE:HE) Stock Has Average Target Price of $8.25 According to Analysts

Key Points

• Analysts are broadly bearish on Hawaiian Electric Industries: Four of five covering firms rate the stock “sell,” while one rates it “hold.” The average 12-month price target is $8.25, below the reported $8.89 share price.
• HE shares have declined significantly, trading near their 52-week low of $8.68 versus a high of $17.38. The stock opened at $8.89, with its 50-day and 200-day moving averages at $11.07 and $13.06, respectively.
• Recent earnings missed expectations: Hawaiian Electric reported quarterly EPS of $0.13, below the $0.21 consensus estimate, although revenue matched expectations at $939.7 million. Institutional investors own approximately 59.91% of the company.

Shares of Hawaiian Electric Industries, Inc. (NYSE:HE - Get Free Report) have been given an average recommendation of "Strong Sell" by the five research firms that are currently covering the company, MarketBeat reports. Four equities research analysts have rated the stock with a sell rating and one has given a hold rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $8.25.

Several brokerages recently issued reports on HE. Jefferies Financial Group raised Hawaiian Electric Industries to a "moderate sell" rating in a research report on Thursday, September 17th. Zacks Research lowered Hawaiian Electric Industries from a "hold" rating to a "strong sell" rating in a research report on Tuesday, August 11th. LADENBURG THALM/SH SH began coverage on Hawaiian Electric Industries in a research note on Tuesday, September 8th. They issued a "sell" rating and a $7.00 price target for the company. Barclays lowered their price objective on Hawaiian Electric Industries from $12.00 to $9.00 and set an "equal weight" rating for the company in a research report on Wednesday. Finally, Weiss Ratings lowered Hawaiian Electric Industries from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Friday, September 25th.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in HE. Pecaut & CO. increased its position in shares of Hawaiian Electric Industries by 3.3% during the second quarter. Pecaut & CO. now owns 41,300 shares of the utilities provider's stock worth $559,000 after buying an additional 1,300 shares during the period. WINTON GROUP Ltd lifted its holdings in Hawaiian Electric Industries by 2.0% in the second quarter. WINTON GROUP Ltd now owns 83,880 shares of the utilities provider's stock valued at $1,135,000 after buying an additional 1,619 shares during the period. Integrated Wealth Concepts LLC acquired a new position in Hawaiian Electric Industries in the second quarter valued at $87,000. Nykredit A S bought a new stake in Hawaiian Electric Industries during the second quarter valued at $88,000. Finally, Corient Private Wealth LP boosted its position in Hawaiian Electric Industries by 41.6% during the second quarter. Corient Private Wealth LP now owns 490,229 shares of the utilities provider's stock valued at $6,633,000 after acquiring an additional 144,124 shares during the last quarter. Institutional investors own 59.91% of the company's stock.

Hawaiian Electric Industries Trading Down 0.4%

HE opened at $8.89 on Friday. The company has a debt-to-equity ratio of 1.57, a current ratio of 0.99 and a quick ratio of 0.99. Hawaiian Electric Industries has a fifty-two week low of $8.68 and a fifty-two week high of $17.38. The company's 50 day moving average price is $11.07 and its two-hundred day moving average price is $13.06. The firm has a market capitalization of $1.54 billion, a price-to-earnings ratio of 6.84 and a beta of 0.49.

Hawaiian Electric Industries (NYSE:HE - Get Free Report) last released its quarterly earnings results on Friday, August 7th. The utilities provider reported $0.13 earnings per share (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 the consensus estimate of $939.70 million. Hawaiian Electric Industries had a net margin of 6.89% and a return on equity of 7.90%. During the same period in the previous year, the business posted $0.15 EPS. As a group, research analysts predict that Hawaiian Electric Industries will post 0.8 earnings per share for the current year.

Hawaiian Electric Industries Company Profile

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.

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