Evercore ISI Forecasts Strong Price Appreciation for Hawaiian Electric Industries (NYSE:HE) Stock

Hawaiian Electric Industries (NYSE:HE) had its price target raised by Evercore ISI from $9.00 to $11.00 in a report issued on Monday morning,Benzinga reports. The firm currently has an in-line rating on the utilities provider’s stock.

HE has been the topic of a number of other research reports. Wells Fargo & Company cut 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 note on Monday, September 30th. StockNews.com lowered shares of Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a report on Friday, October 4th.

Hawaiian Electric Industries Stock Up 1.5 %

Shares of NYSE HE opened at $9.85 on Monday. Hawaiian Electric Industries has a 52 week low of $7.61 and a 52 week high of $18.19. The stock has a 50 day moving average price of $10.34 and a 200 day moving average price of $11.14. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.18 and a quick ratio of 0.11.

Hawaiian Electric Industries (NYSE:HE) last issued its quarterly earnings results on Friday, November 8th. The utilities provider reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.07). Hawaiian Electric Industries had a negative net margin of 35.38% and a positive return on equity of 11.12%. The business had revenue of $983.38 million during the quarter. During the same quarter last year, the firm posted $0.37 EPS. The business’s revenue was up 9.0% on a year-over-year basis.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Oppenheimer & Co. Inc. raised its position in Hawaiian Electric Industries by 14.4% in the 1st quarter. Oppenheimer & Co. Inc. now owns 31,000 shares of the utilities provider’s stock worth $349,000 after purchasing an additional 3,900 shares during the period. Inspire Investing LLC purchased a new position in Hawaiian Electric Industries in the first quarter valued at $357,000. Headlands Technologies LLC acquired a new position in Hawaiian Electric Industries during the first quarter worth about $222,000. State Board of Administration of Florida Retirement System raised its stake in Hawaiian Electric Industries by 18.4% during the first quarter. State Board of Administration of Florida Retirement System now owns 156,734 shares of the utilities provider’s stock worth $1,766,000 after purchasing an additional 24,328 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp raised its stake in shares of Hawaiian Electric Industries by 31.2% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 13,265 shares of the utilities provider’s stock valued at $147,000 after acquiring an additional 3,156 shares during the period. 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.