Hawaiian Electric Industries (NYSE:HE) Price Target Cut to $10.00 by Analysts at Barclays

Hawaiian Electric Industries (NYSE:HE - Get Free Report) had its price target decreased by stock analysts at Barclays from $11.00 to $10.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has an "equal weight" rating on the utilities provider's stock. Barclays's price target suggests a potential downside of 6.85% from the company's current price.

A number of other equities research analysts have also recently commented on the stock. Jefferies Financial Group raised their price objective on shares of Hawaiian Electric Industries from $11.00 to $11.25 and gave the stock a "hold" rating in a research note on Wednesday, May 28th. Wall Street Zen upgraded shares of Hawaiian Electric Industries from a "sell" rating to a "hold" rating in a research report on Monday, May 12th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $11.94.

Hawaiian Electric Industries Price Performance

Shares of Hawaiian Electric Industries stock traded up $0.02 on Thursday, hitting $10.74. 528,497 shares of the company traded hands, compared to its average volume of 3,266,825. The stock has a market capitalization of $1.85 billion, a P/E ratio of -0.83 and a beta of 0.64. The company has a debt-to-equity ratio of 1.77, a quick ratio of 1.25 and a current ratio of 1.25. Hawaiian Electric Industries has a 52 week low of $8.14 and a 52 week high of $18.19. The business has a 50-day simple moving average of $10.60 and a 200 day simple moving average of $10.26.

Hawaiian Electric Industries (NYSE:HE - Get Free Report) last issued its earnings results on Friday, May 9th. The utilities provider reported $0.23 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.23. Hawaiian Electric Industries had a negative net margin of 42.60% and a positive return on equity of 12.59%. The firm had revenue of $744.07 million during the quarter. During the same period in the prior year, the firm posted $0.38 earnings per share. Research analysts expect that Hawaiian Electric Industries will post 1.71 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Hawaiian Electric Industries

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. grew its position in shares of Hawaiian Electric Industries by 14.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,471,522 shares of the utilities provider's stock worth $33,778,000 after acquiring an additional 449,873 shares during the last quarter. Janney Montgomery Scott LLC boosted its position in shares of Hawaiian Electric Industries by 269.7% in the first quarter. Janney Montgomery Scott LLC now owns 67,720 shares of the utilities provider's stock worth $742,000 after buying an additional 49,400 shares during the period. Cambridge Investment Research Advisors Inc. boosted its position in shares of Hawaiian Electric Industries by 123.9% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 88,172 shares of the utilities provider's stock worth $965,000 after buying an additional 48,792 shares during the period. Proficio Capital Partners LLC acquired a new stake in Hawaiian Electric Industries during the fourth quarter valued at $142,000. Finally, Raymond James Financial Inc. acquired a new stake in Hawaiian Electric Industries during the fourth quarter valued at $342,000. Institutional investors and hedge funds own 59.91% of the company's stock.

About Hawaiian Electric Industries

Hawaiian Electric Industries, Inc, together with its subsidiaries, engages in the electric utility businesses in the United States. It operates in three segments: Electric Utility, Bank, and Other. The Electric Utility segment engages in the production, purchase, transmission, distribution, and sale of electricity in the islands of Oahu, Hawaii, Maui, Lanai, and Molokai.

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