Jefferies Financial Group Lowers Hawaiian Electric Industries (NYSE:HE) Price Target to $10.50

Hawaiian Electric Industries (NYSE:HE - Get Free Report) had its target price cut by equities research analysts at Jefferies Financial Group from $11.50 to $10.50 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a "hold" rating on the utilities provider's stock. Jefferies Financial Group's target price suggests a potential upside of 12.54% from the company's previous close.

Other equities research analysts have also recently issued research reports about the stock. Evercore ISI dropped their price objective on shares of Hawaiian Electric Industries from $11.00 to $10.00 and set an "in-line" rating on the stock in a research note on Tuesday, November 19th. StockNews.com lowered shares of Hawaiian Electric Industries from a "hold" rating to a "sell" rating in a research report on Friday. Finally, Wells Fargo & Company decreased their price objective on shares of 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 Performance

Shares of HE stock traded down $0.12 during trading hours on Friday, hitting $9.33. The company's stock had a trading volume of 2,816,698 shares, compared to its average volume of 3,171,949. Hawaiian Electric Industries has a 12-month low of $7.61 and a 12-month high of $18.19. 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 stock has a market cap of $1.61 billion, a PE ratio of -0.79 and a beta of 0.53. The company has a 50 day moving average of $10.19 and a 200 day moving average of $11.05.

Hawaiian Electric Industries (NYSE:HE - Get Free Report) last issued its quarterly earnings data 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). The company had revenue of $983.38 million during the quarter. Hawaiian Electric Industries had a negative net margin of 35.38% and a positive return on equity of 11.12%. The firm's revenue for the quarter was up 9.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.37 earnings per share. On average, sell-side analysts forecast that Hawaiian Electric Industries will post 1.71 EPS for the current fiscal year.

Hedge Funds Weigh In On Hawaiian Electric Industries

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp raised its stake in Hawaiian Electric Industries by 23.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 638,156 shares of the utilities provider's stock valued at $5,756,000 after purchasing an additional 120,208 shares during the last quarter. Principal Financial Group Inc. acquired a new stake in shares of Hawaiian Electric Industries in the 2nd quarter worth $98,000. Van ECK Associates Corp raised its holdings in shares of Hawaiian Electric Industries by 9.5% during the 2nd quarter. Van ECK Associates Corp now owns 28,481 shares of the utilities provider's stock worth $257,000 after acquiring an additional 2,482 shares during the period. Rhumbline Advisers raised its holdings in shares of Hawaiian Electric Industries by 56.2% during the 2nd quarter. Rhumbline Advisers now owns 175,675 shares of the utilities provider's stock worth $1,585,000 after acquiring an additional 63,241 shares during the period. Finally, Victory Capital Management Inc. boosted its position in shares of Hawaiian Electric Industries by 62.0% during the 2nd quarter. Victory Capital Management Inc. now owns 62,952 shares of the utilities provider's stock valued at $568,000 after acquiring an additional 24,087 shares during the last quarter. 59.91% of the stock is owned by hedge funds and other 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.