Barclays Begins Coverage on Hawaiian Electric Industries (NYSE:HE)

Research analysts at Barclays assumed coverage on shares of Hawaiian Electric Industries (NYSE:HE - Get Free Report) in a research report issued on Thursday, MarketBeat reports. The firm set an "equal weight" rating and a $10.00 price target on the utilities provider's stock. Barclays's price objective would indicate a potential downside of 1.04% from the stock's previous close.

HE has been the subject of a number of other reports. StockNews.com lowered shares of Hawaiian Electric Industries from a "hold" rating to a "sell" rating in a report on Wednesday, January 29th. Evercore ISI cut 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 research note on Tuesday, November 19th. Finally, Jefferies Financial Group decreased their price target on shares of Hawaiian Electric Industries from $11.50 to $10.50 and set a "hold" rating on the stock in a research note 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. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $10.50.

Hawaiian Electric Industries Price Performance

Hawaiian Electric Industries stock traded up $0.77 during mid-day trading on Thursday, hitting $10.11. The stock had a trading volume of 8,054,011 shares, compared to its average volume of 2,909,469. The company has a current ratio of 0.18, a quick ratio of 0.18 and a debt-to-equity ratio of 1.80. The firm's 50 day moving average is $9.53 and its 200 day moving average is $10.78. The firm has a market capitalization of $1.74 billion, a P/E ratio of -0.85 and a beta of 0.53. Hawaiian Electric Industries has a one year low of $7.61 and a one year high of $18.19.

Hawaiian Electric Industries (NYSE:HE - Get Free Report) last released its earnings results on Friday, November 8th. The utilities provider reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.07). Hawaiian Electric Industries had a positive return on equity of 11.12% and a negative net margin of 35.38%. The business had revenue of $983.38 million for the quarter. During the same period in the prior year, the company earned $0.37 EPS. The company's quarterly revenue was up 9.0% compared to the same quarter last year. On average, sell-side analysts forecast that Hawaiian Electric Industries will post 1.71 earnings per share for the current fiscal year.

Institutional Trading of Hawaiian Electric Industries

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Virtu Financial LLC purchased a new stake in shares of Hawaiian Electric Industries during the third quarter valued at $821,000. FORA Capital LLC bought a new stake in shares of Hawaiian Electric Industries in the 3rd quarter valued at about $692,000. Franklin Resources Inc. lifted its position in shares of Hawaiian Electric Industries by 656.7% in the 3rd quarter. Franklin Resources Inc. now owns 2,722,668 shares of the utilities provider's stock worth $27,499,000 after purchasing an additional 2,362,863 shares during the period. Seven Grand Managers LLC bought a new position in shares of Hawaiian Electric Industries during the third quarter valued at approximately $4,888,000. Finally, FMR LLC increased its holdings in 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 valued at $51,698,000 after buying an additional 5,274,633 shares during the period. Hedge funds and other institutional investors own 59.91% of the company's stock.

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.