Evercore ISI Issues Pessimistic Forecast for Hawaiian Electric Industries (NYSE:HE) Stock Price

Hawaiian Electric Industries (NYSE:HE) had its price target cut by research analysts at Evercore ISI from $11.00 to $10.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an “in-line” rating on the utilities provider’s stock. Evercore ISI’s price target would suggest a potential downside of 4.58% from the stock’s previous close.

HE has been the topic of several other reports. Wells Fargo & Company dropped their price target on shares of Hawaiian Electric Industries from $14.00 to $11.50 and set an “equal weight” rating on the stock in a research report on Monday, September 30th. StockNews.com downgraded shares of Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a research note on Friday, October 4th.

Hawaiian Electric Industries Trading Down 0.9 %

Shares of NYSE HE opened at $10.48 on Tuesday. The company’s 50 day simple moving average is $10.28 and its 200 day simple moving average is $11.15. 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 firm has a market capitalization of $1.81 billion, a P/E ratio of -0.89 and a beta of 0.53. Hawaiian Electric Industries has a fifty-two week low of $7.61 and a fifty-two week high of $18.19.

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

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of HE. New Covenant Trust Company N.A. bought a new position in shares of Hawaiian Electric Industries during the 1st quarter valued at about $32,000. Abich Financial Wealth Management LLC lifted its holdings in shares of Hawaiian Electric Industries by 54.4% in the 1st quarter. Abich Financial Wealth Management LLC now owns 3,226 shares of the utilities provider’s stock worth $36,000 after acquiring an additional 1,137 shares during the last quarter. KBC Group NV boosted its stake in shares of Hawaiian Electric Industries by 34.8% in the 3rd quarter. KBC Group NV now owns 3,956 shares of the utilities provider’s stock valued at $38,000 after purchasing an additional 1,021 shares in the last quarter. UMB Bank n.a. purchased a new stake in shares of Hawaiian Electric Industries in the 3rd quarter valued at $42,000. Finally, Quarry LP grew its holdings in shares of Hawaiian Electric Industries by 156.6% during the 3rd quarter. Quarry LP now owns 4,503 shares of the utilities provider’s stock valued at $44,000 after purchasing an additional 2,748 shares during the last quarter. 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.