Jefferies Financial Group Begins Coverage on Hawaiian Electric Industries (NYSE:HE)

Jefferies Financial Group initiated coverage on shares of Hawaiian Electric Industries (NYSE:HE) in a report published on Tuesday, MarketBeat reports. The firm issued a hold rating and a $11.50 price objective on the utilities provider’s stock.

A number of other analysts also recently issued reports on HE. Evercore ISI decreased their price objective on shares of Hawaiian Electric Industries from $11.00 to $10.00 and set an “in-line” rating for the company in a report on Tuesday, November 19th. StockNews.com cut shares of Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a report on Friday, October 4th. Finally, Wells Fargo & Company cut their price target on Hawaiian Electric Industries from $14.00 to $11.50 and set an “equal weight” rating for the company in a research note on Monday, September 30th.

Hawaiian Electric Industries Price Performance

Hawaiian Electric Industries stock opened at $10.19 on Tuesday. Hawaiian Electric Industries has a 52 week low of $7.61 and a 52 week high of $18.19. The company’s 50 day moving average price is $10.11 and its two-hundred day moving average price is $11.14. The stock has a market cap of $1.76 billion, a P/E ratio of -0.86 and a beta of 0.53. The company has a quick ratio of 0.18, a current ratio of 0.18 and a debt-to-equity ratio of 1.80.

Hawaiian Electric Industries (NYSE:HE) last issued its quarterly earnings results on Friday, November 8th. The utilities provider reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.07). The business had revenue of $983.38 million for the quarter. Hawaiian Electric Industries had a positive return on equity of 11.12% and a negative net margin of 35.38%. The company’s revenue for the quarter was up 9.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.37 EPS.

Institutional Investors Weigh In On Hawaiian Electric Industries

Several hedge funds and other institutional investors have recently modified their holdings of the stock. KBC Group NV boosted its holdings in Hawaiian Electric Industries by 34.8% in the 3rd quarter. KBC Group NV now owns 3,956 shares of the utilities provider’s stock valued at $38,000 after purchasing an additional 1,021 shares during the period. UMB Bank n.a. bought a new stake in Hawaiian Electric Industries during the third quarter valued at $42,000. Quarry LP grew its position in Hawaiian Electric Industries by 156.6% during the third quarter. Quarry LP now owns 4,503 shares of the utilities provider’s stock worth $44,000 after buying an additional 2,748 shares in the last quarter. Millburn Ridgefield Corp bought a new position in Hawaiian Electric Industries in the 3rd quarter worth about $55,000. Finally, Quest Partners LLC raised its holdings in shares of Hawaiian Electric Industries by 126.1% in the 3rd quarter. Quest Partners LLC now owns 7,983 shares of the utilities provider’s stock valued at $77,000 after acquiring an additional 4,453 shares in the last quarter. 59.91% of the stock is currently owned by 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.