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

Hawaiian Electric Industries (NYSE:HE) had its price target lifted by Wells Fargo & Company from $11.00 to $12.50 in a research report report published on Thursday,Benzinga reports. The firm currently has an equal weight rating on the utilities provider’s stock.

HE has been the subject of a number of other research reports. Evercore ISI lowered their target price 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. Barclays started coverage on 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 lowered Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a research note on Tuesday, February 11th. 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 research report on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $10.75.

Hawaiian Electric Industries Stock Performance

HE stock opened at $10.72 on Thursday. The company has a 50 day moving average price of $9.62 and a 200 day moving average price of $10.30. Hawaiian Electric Industries has a fifty-two week low of $7.61 and a fifty-two week high of $18.19. 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 stock has a market capitalization of $1.85 billion, a PE ratio of -0.91 and a beta of 0.53.

Hawaiian Electric Industries (NYSE:HE) last issued its quarterly 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 negative net margin of 35.38% and a positive return on equity of 11.12%. The firm had revenue of $799.18 million for the quarter. Analysts forecast that Hawaiian Electric Industries will post 1.71 EPS for the current year.

Hedge Funds Weigh In On Hawaiian Electric Industries

Several institutional investors and hedge funds have recently modified their holdings of the business. Blue Trust Inc. raised its stake in shares of Hawaiian Electric Industries by 203.0% in the 4th quarter. Blue Trust Inc. now owns 3,078 shares of the utilities provider’s stock valued at $30,000 after purchasing an additional 2,062 shares during the period. R Squared Ltd acquired a new position in Hawaiian Electric Industries during the 4th quarter worth approximately $36,000. KBC Group NV grew its stake in shares of Hawaiian Electric Industries by 34.8% during the 3rd quarter. KBC Group NV now owns 3,956 shares of the utilities provider’s stock worth $38,000 after acquiring an additional 1,021 shares in the last quarter. Comerica Bank lifted its position in shares of Hawaiian Electric Industries by 69.3% in the fourth quarter. Comerica Bank now owns 4,189 shares of the utilities provider’s stock worth $41,000 after purchasing an additional 1,715 shares in the last quarter. Finally, Quarry LP lifted 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 purchasing an additional 2,748 shares in the last quarter. 59.91% of the stock is currently owned by institutional investors and hedge funds.

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.