Barclays Has Lowered Expectations for Hawaiian Electric Industries (NYSE:HE) Stock Price

Hawaiian Electric Industries (NYSE:HE - Free Report) had its price target cut by Barclays from $11.00 to $10.00 in a research report report published on Thursday,Benzinga reports. They currently have an equal weight rating on the utilities provider's stock.

HE has been the subject of a number of other reports. Wall Street Zen upgraded shares of Hawaiian Electric Industries from a "sell" rating to a "hold" rating in a report on Monday, May 12th. Jefferies Financial Group upped their price target on shares of Hawaiian Electric Industries from $11.00 to $11.25 and gave the company a "hold" rating in a report on Wednesday, May 28th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $11.94.

Hawaiian Electric Industries Price Performance

NYSE:HE traded down $0.08 during mid-day trading on Thursday, reaching $10.57. The stock had a trading volume of 1,633,697 shares, compared to its average volume of 3,193,433. 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 one year low of $8.14 and a one year high of $18.19. The firm has a 50 day moving average price of $10.62 and a two-hundred day moving average price of $10.27. The stock has a market capitalization of $1.82 billion, a P/E ratio of -0.82 and a beta of 0.64.

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

Institutional Trading of Hawaiian Electric Industries

A number of hedge funds and other institutional investors have recently modified their holdings of HE. Byrne Asset Management LLC grew its position in Hawaiian Electric Industries by 28.1% during the 2nd quarter. Byrne Asset Management LLC now owns 4,981 shares of the utilities provider's stock valued at $53,000 after purchasing an additional 1,094 shares during the last quarter. Mad River Investors grew its position in Hawaiian Electric Industries by 0.8% during the 2nd quarter. Mad River Investors now owns 1,225,900 shares of the utilities provider's stock valued at $13,031,000 after purchasing an additional 10,000 shares during the last quarter. Kera Capital Partners Inc. purchased a new stake in Hawaiian Electric Industries during the 2nd quarter valued at about $128,000. Rhumbline Advisers grew its position in Hawaiian Electric Industries by 1.1% during the 1st quarter. Rhumbline Advisers now owns 257,191 shares of the utilities provider's stock valued at $2,816,000 after purchasing an additional 2,877 shares during the last quarter. Finally, Strs Ohio purchased a new stake in Hawaiian Electric Industries during the 1st quarter valued at about $716,000. 59.91% of the stock is owned by hedge funds and other institutional investors.

Hawaiian Electric Industries Company Profile

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.