Hawaiian Electric Industries (NYSE:HE) Given New $10.00 Price Target at Evercore ISI

Hawaiian Electric Industries (NYSE:HE) had its target price decreased by Evercore ISI from $11.00 to $10.00 in a research report report published on Tuesday,Benzinga reports. Evercore ISI currently has an in-line rating on the utilities provider’s stock.

A number of other brokerages also recently issued reports on HE. StockNews.com downgraded Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a research report on Friday, October 4th. Wells Fargo & Company lowered their price target on Hawaiian Electric Industries from $14.00 to $11.50 and set an “equal weight” rating for the company in a research report on Monday, September 30th.

Hawaiian Electric Industries Stock Down 0.4 %

Shares of HE opened at $10.59 on Tuesday. The company has a market cap of $1.83 billion, a PE ratio of -0.89 and a beta of 0.53. The business has a fifty day moving average of $10.30 and a 200 day moving average of $11.15. Hawaiian Electric Industries has a 52-week low of $7.61 and a 52-week high of $18.19. The company has a quick ratio of 0.18, a current ratio of 0.18 and a debt-to-equity ratio of 1.80.

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 analysts’ consensus estimates of $0.53 by ($0.07). The company had revenue of $983.38 million during the quarter. Hawaiian Electric Industries had a positive return on equity of 11.12% and a negative net margin of 35.38%. The firm’s revenue was up 9.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.37 EPS.

Institutional Trading of Hawaiian Electric Industries

Several institutional investors and hedge funds have recently made changes to their positions in HE. Zimmer Partners LP bought a new stake in shares of Hawaiian Electric Industries during the third quarter worth $145,200,000. FMR LLC lifted its position in shares of Hawaiian Electric Industries by 7,986.3% during the third quarter. FMR LLC now owns 5,340,679 shares of the utilities provider’s stock worth $51,698,000 after purchasing an additional 5,274,633 shares during the last quarter. AQR Capital Management LLC lifted its position in shares of 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 worth $60,308,000 after purchasing an additional 2,312,950 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Hawaiian Electric Industries by 49.3% during the third quarter. Geode Capital Management LLC now owns 3,793,142 shares of the utilities provider’s stock worth $36,725,000 after purchasing an additional 1,253,143 shares during the last quarter. Finally, Millennium Management LLC increased its stake in shares of Hawaiian Electric Industries by 79.0% during the second quarter. Millennium Management LLC now owns 1,870,088 shares of the utilities provider’s stock valued at $16,868,000 after buying an additional 825,073 shares during the period. 59.91% of the stock is currently owned by 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.