Wells Fargo & Company Forecasts Strong Price Appreciation for Hawaiian Electric Industries (NYSE:HE) Stock

Hawaiian Electric Industries (NYSE:HE) had its price objective raised by investment analysts at Wells Fargo & Company from $11.00 to $12.50 in a research note issued on Thursday,Benzinga reports. The brokerage currently has an “equal weight” rating on the utilities provider’s stock. Wells Fargo & Company‘s target price suggests a potential upside of 13.90% from the stock’s current price.

Several other equities analysts also recently commented on the stock. Barclays began coverage on shares of Hawaiian Electric Industries in a research note on Thursday, February 6th. They set an “equal weight” rating and a $10.00 price objective for the company. StockNews.com cut Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a report on Tuesday, February 11th. Evercore ISI reduced their target price on Hawaiian Electric Industries from $11.00 to $10.00 and set an “in-line” rating on the stock in a research note on Tuesday, November 19th. Finally, Jefferies Financial Group decreased their target price on Hawaiian Electric Industries from $11.50 to $10.50 and set a “hold” rating for the company in a report on Friday, January 3rd. One analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. Based on data from MarketBeat, Hawaiian Electric Industries presently has a consensus rating of “Hold” and an average target price of $10.75.

Hawaiian Electric Industries Trading Up 2.5 %

Shares of HE stock opened at $10.98 on Thursday. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.18 and a quick ratio of 0.18. The business has a 50-day moving average of $9.64 and a 200 day moving average of $10.30. The stock has a market capitalization of $1.89 billion, a PE ratio of -0.93 and a beta of 0.53. Hawaiian Electric Industries has a 1-year low of $7.61 and a 1-year high of $18.19.

Hawaiian Electric Industries (NYSE:HE) last issued its earnings results on Friday, February 21st. The utilities provider reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.19). 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 $799.18 million during the quarter. As a group, sell-side analysts anticipate that Hawaiian Electric Industries will post 1.71 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. International Assets Investment Management LLC raised its holdings in Hawaiian Electric Industries by 789.8% in the third quarter. International Assets Investment Management LLC now owns 106,270 shares of the utilities provider’s stock worth $10,978,000 after purchasing an additional 94,327 shares in the last quarter. PFG Investments LLC bought a new position in shares of Hawaiian Electric Industries in the 3rd quarter worth about $166,000. Van ECK Associates Corp lifted its position in Hawaiian Electric Industries by 59.9% during the 3rd quarter. Van ECK Associates Corp now owns 45,536 shares of the utilities provider’s stock valued at $443,000 after acquiring an additional 17,055 shares during the period. Fernwood Investment Management LLC boosted its stake in Hawaiian Electric Industries by 82.8% during the third quarter. Fernwood Investment Management LLC now owns 133,175 shares of the utilities provider’s stock worth $1,289,000 after acquiring an additional 60,335 shares in the last quarter. Finally, Versor Investments LP bought a new stake in Hawaiian Electric Industries during the third quarter worth about $367,000. Hedge funds and other institutional investors own 59.91% of the company’s stock.

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.