Evercore ISI Lowers Hawaiian Electric Industries (NYSE:HE) Price Target to $10.00

Hawaiian Electric Industries (NYSE:HE - Get Free Report) had its target price lowered by research analysts at Evercore ISI from $11.00 to $10.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an "in-line" rating on the utilities provider's stock. Evercore ISI's price target points to a potential downside of 5.53% from the stock's current price.

Several other analysts have also issued reports on HE. Wells Fargo & Company dropped their target price 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 cut Hawaiian Electric Industries from a "hold" rating to a "sell" rating in a report on Friday, October 4th.

Hawaiian Electric Industries Price Performance

Shares of NYSE:HE traded down $0.04 during trading on Tuesday, reaching $10.59. 1,696,872 shares of the company's stock traded hands, compared to its average volume of 3,415,226. 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 has a fifty-two week low of $7.61 and a fifty-two week high of $18.19. The company has a 50-day simple moving average of $10.30 and a 200-day simple moving average of $11.15. The firm has a market cap of $1.83 billion, a PE ratio of -0.89 and a beta of 0.53.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Zimmer Partners LP purchased a new stake in shares of Hawaiian Electric Industries during the 3rd quarter worth $145,200,000. FMR LLC lifted its holdings in Hawaiian Electric Industries by 7,986.3% during 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. AQR Capital Management LLC boosted its position in shares of Hawaiian Electric Industries by 52.8% during the 2nd quarter. AQR Capital Management LLC now owns 6,693,424 shares of the utilities provider's stock worth $60,308,000 after acquiring an additional 2,312,950 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Hawaiian Electric Industries by 49.3% in the 3rd quarter. Geode Capital Management LLC now owns 3,793,142 shares of the utilities provider's stock valued at $36,725,000 after acquiring an additional 1,253,143 shares during the last quarter. Finally, Millennium Management LLC increased its holdings 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 acquiring an additional 825,073 shares during the last quarter. 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.