Wells Fargo & Company Raises Hawaiian Electric Industries (NYSE:HE) Price Target to $14.00

Hawaiian Electric Industries (NYSE:HE) had its price target boosted by Wells Fargo & Company from $9.00 to $14.00 in a research report released on Monday morning, Benzinga reports. Wells Fargo & Company currently has an underweight rating on the utilities provider’s stock.

Several other brokerages have also recently commented on HE. StockNews.com upgraded shares of Hawaiian Electric Industries from a sell rating to a hold rating in a report on Wednesday, August 7th. Evercore ISI raised their target price on shares of Hawaiian Electric Industries from $11.00 to $16.00 and gave the stock an in-line rating in a report on Monday, August 5th. Two investment analysts have rated the stock with a sell rating and two have given a hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of Hold and an average target price of $12.83.

Hawaiian Electric Industries Stock Performance

Shares of HE opened at $13.51 on Monday. Hawaiian Electric Industries has a one year low of $7.61 and a one year high of $18.19. The company has a 50-day moving average of $12.14 and a two-hundred day moving average of $11.65. The stock has a market cap of $1.49 billion, a price-to-earnings ratio of 7.99 and a beta of 0.57. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.11 and a quick ratio of 0.11.

Hawaiian Electric Industries (NYSE:HE) last announced its earnings results on Friday, August 9th. The utilities provider reported $0.44 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.05). Hawaiian Electric Industries had a return on equity of 9.58% and a net margin of 5.16%. The firm had revenue of $792.30 million during the quarter. The firm’s revenue was down .2% compared to the same quarter last year.

Hedge Funds Weigh In On Hawaiian Electric Industries

Several institutional investors and hedge funds have recently modified their holdings of the stock. AQR Capital Management LLC lifted its stake in shares of Hawaiian Electric Industries by 52.8% in the 2nd quarter. AQR Capital Management LLC now owns 6,693,424 shares of the utilities provider’s stock valued at $60,308,000 after purchasing an additional 2,312,950 shares during the last quarter. Millennium Management LLC lifted its stake 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 valued at $16,868,000 after purchasing an additional 825,073 shares during the last quarter. Verition Fund Management LLC acquired a new stake in shares of Hawaiian Electric Industries in the 4th quarter valued at $8,944,000. BNP Paribas Financial Markets lifted its stake in shares of Hawaiian Electric Industries by 2,854.9% in the 4th quarter. BNP Paribas Financial Markets now owns 580,931 shares of the utilities provider’s stock valued at $8,243,000 after purchasing an additional 561,271 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Hawaiian Electric Industries by 21.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,621,304 shares of the utilities provider’s stock valued at $23,006,000 after purchasing an additional 285,955 shares during the last quarter. 59.91% of the stock is currently owned by hedge funds and other institutional investors.

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.