Barclays Issues Positive Forecast for Hawaiian Electric Industries (NYSE:HE) Stock Price

Hawaiian Electric Industries (NYSE:HE) had its price objective upped by research analysts at Barclays from $13.00 to $14.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has an “equal weight” rating on the utilities provider’s stock. Barclays‘s price target would indicate a potential downside of 12.77% from the company’s current price.

A number of other analysts have also recently weighed in on the company. Weiss Ratings reiterated a “sell (d)” rating on shares of Hawaiian Electric Industries in a research report on Monday, December 29th. Jefferies Financial Group downgraded Hawaiian Electric Industries from a “hold” rating to an “underperform” rating and lowered their price objective for the stock from $13.50 to $12.50 in a research note on Tuesday, January 20th. Finally, Zacks Research upgraded Hawaiian Electric Industries to a “hold” rating in a research note on Monday, February 9th. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus target price of $13.50.

Hawaiian Electric Industries Stock Up 3.6%

Shares of NYSE:HE traded up $0.56 during trading on Monday, hitting $16.05. The company’s stock had a trading volume of 951,107 shares, compared to its average volume of 3,114,494. The company has a market capitalization of $2.77 billion, a PE ratio of 22.44 and a beta of 0.62. Hawaiian Electric Industries has a fifty-two week low of $9.06 and a fifty-two week high of $17.38. The company has a debt-to-equity ratio of 1.79, a quick ratio of 1.35 and a current ratio of 1.35. The stock’s 50-day moving average price is $14.69 and its two-hundred day moving average price is $12.74.

Hawaiian Electric Industries (NYSE:HE) last released its earnings results on Friday, February 27th. The utilities provider reported $0.24 earnings per share for the quarter, hitting the consensus estimate of $0.24. Hawaiian Electric Industries had a net margin of 4.09% and a return on equity of 9.93%. The company had revenue of $805.82 million during the quarter. As a group, sell-side analysts expect that Hawaiian Electric Industries will post 1.71 EPS for the current year.

Institutional Trading of Hawaiian Electric Industries

Hedge funds have recently bought and sold shares of the stock. Caitong International Asset Management Co. Ltd grew its position in Hawaiian Electric Industries by 199,800.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,999 shares of the utilities provider’s stock worth $25,000 after buying an additional 1,998 shares in the last quarter. Navalign LLC acquired a new stake in shares of Hawaiian Electric Industries during the 4th quarter worth approximately $25,000. Northwestern Mutual Wealth Management Co. increased its position in shares of Hawaiian Electric Industries by 142.2% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 2,325 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 1,365 shares during the period. Tucker Asset Management LLC acquired a new position in shares of Hawaiian Electric Industries in the fourth quarter valued at $32,000. Finally, Smartleaf Asset Management LLC lifted its position in Hawaiian Electric Industries by 334.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,576 shares of the utilities provider’s stock worth $32,000 after purchasing an additional 1,983 shares during the period. 59.91% of the stock is owned by institutional investors.

Hawaiian Electric Industries Company Profile

Hawaiian Electric Industries, Inc is a diversified holding company operating in the energy and financial services sectors in the state of Hawaii. Its principal subsidiary, Hawaiian Electric Company, provides generation, transmission, distribution and customer service to the island of Oahu, while its Maui Electric and Hawaii Electric Light Company subsidiaries serve Maui, Molokai, Lanai and Hawaii Island. The roots of the electric utility business trace back to 1891 when service first commenced in Honolulu.

Through its subsidiary Hawaii Gas, HEI extends its energy portfolio to include the distribution of natural gas and propane, supporting residential, commercial and industrial customers across the islands.