Hawaiian Electric Industries (NYSE:HE) Given New $12.50 Price Target at Wells Fargo & Company

Hawaiian Electric Industries (NYSE:HE) had its price objective increased by research analysts at Wells Fargo & Company from $11.00 to $12.50 in a report issued on Thursday,Benzinga reports. The firm presently has an “equal weight” rating on the utilities provider’s stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 19.22% from the stock’s current price.

Several other brokerages have also issued reports on HE. Barclays began coverage on Hawaiian Electric Industries in a research report on Thursday, February 6th. They set an “equal weight” rating and a $10.00 target price for the company. Evercore ISI cut their price objective on Hawaiian Electric Industries from $11.00 to $10.00 and set an “in-line” rating on the stock in a research report on Tuesday, November 19th. 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. Finally, StockNews.com cut shares of Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a research report on Tuesday, February 11th. One research analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $10.75.

Hawaiian Electric Industries Price Performance

NYSE HE traded down $0.30 during trading hours on Thursday, reaching $10.49. The company’s stock had a trading volume of 494,196 shares, compared to its average volume of 3,147,989. Hawaiian Electric Industries has a 1 year low of $7.61 and a 1 year 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. The company has a market capitalization of $1.81 billion, a price-to-earnings ratio of -0.89 and a beta of 0.53. The firm’s 50-day moving average price is $9.62 and its 200-day moving average price is $10.30.

Hawaiian Electric Industries (NYSE:HE) last posted its earnings results on Friday, February 21st. The utilities provider reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.19). The company had revenue of $799.18 million for the quarter. Hawaiian Electric Industries had a negative net margin of 35.38% and a positive return on equity of 11.12%. On average, equities research analysts predict that Hawaiian Electric Industries will post 1.71 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Zimmer Partners LP bought a new position in Hawaiian Electric Industries in the third quarter worth about $145,200,000. T. Rowe Price Investment Management Inc. purchased a new position in shares of Hawaiian Electric Industries in the 4th quarter worth approximately $115,010,000. FMR LLC grew its position in shares of Hawaiian Electric Industries by 7,986.3% in the 3rd quarter. FMR LLC now owns 5,340,679 shares of the utilities provider’s stock worth $51,698,000 after buying an additional 5,274,633 shares during the last quarter. Horizon Kinetics Asset Management LLC purchased a new stake in Hawaiian Electric Industries during the fourth quarter valued at approximately $23,153,000. Finally, Franklin Resources Inc. lifted its holdings in shares of Hawaiian Electric Industries by 656.7% during the 3rd quarter. Franklin Resources Inc. now owns 2,722,668 shares of the utilities provider’s stock valued at $27,499,000 after purchasing an additional 2,362,863 shares during the last quarter. 59.91% of the stock is 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.