Hawaiian Electric Industries (NYSE:HE) Price Target Lowered to $11.50 at Wells Fargo & Company

Hawaiian Electric Industries (NYSE:HE) had its price target cut by Wells Fargo & Company from $14.00 to $11.50 in a research note published on Monday morning, Benzinga reports. They currently have an equal weight rating on the utilities provider’s stock.

A number of other analysts also recently issued reports on the stock. Evercore ISI lowered their price objective on shares of Hawaiian Electric Industries from $16.00 to $9.00 and set an in-line rating on the stock in a report on Tuesday, September 24th. StockNews.com downgraded Hawaiian Electric Industries from a hold rating to a sell rating in a research report on Wednesday, September 25th.

Hawaiian Electric Industries Trading Up 5.7 %

Shares of HE opened at $9.78 on Monday. Hawaiian Electric Industries has a 12-month low of $7.61 and a 12-month high of $18.19. The stock’s fifty day simple moving average is $12.40 and its 200-day simple moving average is $11.29. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 2.62. The firm has a market capitalization of $1.08 billion, a PE ratio of 5.79 and a beta of 0.54.

Hawaiian Electric Industries (NYSE:HE) last announced its quarterly earnings results on Friday, August 9th. The utilities provider reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.05). Hawaiian Electric Industries had a negative net margin of 31.76% and a positive return on equity of 10.69%. The firm had revenue of $792.30 million during the quarter. Hawaiian Electric Industries’s revenue for the quarter was down .2% on a year-over-year basis.

Institutional Trading of Hawaiian Electric Industries

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Hawaiian Electric Industries by 1.5% during the first quarter. Vanguard Group Inc. now owns 11,059,244 shares of the utilities provider’s stock worth $124,638,000 after purchasing an additional 160,815 shares during the last quarter. AQR Capital Management LLC boosted its position in Hawaiian Electric Industries by 52.8% during the second quarter. AQR Capital Management LLC now owns 6,693,424 shares of the utilities provider’s stock valued at $60,308,000 after acquiring an additional 2,312,950 shares during the last quarter. Millennium Management LLC raised its position in shares of Hawaiian Electric Industries by 79.0% in the 2nd quarter. Millennium Management LLC now owns 1,870,088 shares of the utilities provider’s stock worth $16,868,000 after acquiring an additional 825,073 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Hawaiian Electric Industries by 23.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 638,156 shares of the utilities provider’s stock worth $5,756,000 after acquiring an additional 120,208 shares in the last quarter. Finally, Verition Fund Management LLC bought a new position in shares of Hawaiian Electric Industries in the 4th quarter worth about $8,944,000. 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.