Jefferies Financial Group Lowers Hawaiian Electric Industries (NYSE:HE) Price Target to $10.50

Hawaiian Electric Industries (NYSE:HE) had its price objective reduced by Jefferies Financial Group from $11.50 to $10.50 in a report released on Friday morning,Benzinga reports. They currently have a hold rating on the utilities provider’s stock.

Several other research firms also recently commented on HE. Evercore ISI dropped their price objective on shares of Hawaiian Electric Industries from $11.00 to $10.00 and set an “in-line” rating on the stock in a report on Tuesday, November 19th. StockNews.com downgraded shares of Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a report on Friday. Finally, Wells Fargo & Company dropped their target price on Hawaiian Electric Industries from $14.00 to $11.50 and set an “equal weight” rating on the stock in a research report on Monday, September 30th.

Hawaiian Electric Industries Trading Down 1.3 %

Shares of HE stock opened at $9.33 on Friday. The company has a quick ratio of 0.18, a current ratio of 0.18 and a debt-to-equity ratio of 1.80. The firm has a market cap of $1.61 billion, a P/E ratio of -0.79 and a beta of 0.53. The company has a 50 day moving average of $10.19 and a 200-day moving average of $11.05. Hawaiian Electric Industries has a 12-month low of $7.61 and a 12-month high of $18.19.

Hawaiian Electric Industries (NYSE:HE) last released its earnings results on Friday, November 8th. The utilities provider reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.07). Hawaiian Electric Industries had a positive return on equity of 11.12% and a negative net margin of 35.38%. The firm had revenue of $983.38 million during the quarter. During the same period in the prior year, the company earned $0.37 earnings per share. Hawaiian Electric Industries’s revenue was up 9.0% on a year-over-year basis. Sell-side analysts anticipate that Hawaiian Electric Industries will post 1.71 earnings per share for the current year.

Hedge Funds Weigh In On Hawaiian Electric Industries

Several hedge funds have recently bought and sold shares of the company. KBC Group NV lifted its stake 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 worth $38,000 after purchasing an additional 1,021 shares in the last quarter. UMB Bank n.a. purchased a new stake in shares of Hawaiian Electric Industries in the third quarter worth $42,000. Quarry LP raised its position in shares of Hawaiian Electric Industries by 156.6% in 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 stake in Hawaiian Electric Industries during the third quarter valued at $55,000. Finally, Quest Partners LLC grew its position in Hawaiian Electric Industries by 126.1% during the third quarter. Quest Partners LLC now owns 7,983 shares of the utilities provider’s stock worth $77,000 after buying an additional 4,453 shares in the last quarter. Hedge funds and other institutional investors 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.