Wells Fargo & Company Increases Hawaiian Electric Industries (NYSE:HE) Price Target to $12.50

Hawaiian Electric Industries (NYSE:HE) had its price target raised by Wells Fargo & Company from $11.00 to $12.50 in a report released on Thursday,Benzinga reports. The brokerage presently has an “equal weight” rating on the utilities provider’s stock. Wells Fargo & Company‘s price target would indicate a potential upside of 13.90% from the stock’s current price.

HE has been the subject of a number of other research reports. Barclays began coverage on Hawaiian Electric Industries in a report on Thursday, February 6th. They issued an “equal weight” rating and a $10.00 target price for the company. Evercore ISI reduced their price objective on Hawaiian Electric Industries from $11.00 to $10.00 and set an “in-line” rating for the company in a report on Tuesday, November 19th. Jefferies Financial Group lowered their target price 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. Finally, StockNews.com lowered shares of Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a research note on Tuesday, February 11th. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $10.75.

Hawaiian Electric Industries Stock Performance

Shares of Hawaiian Electric Industries stock opened at $10.98 on Thursday. Hawaiian Electric Industries has a 1 year low of $7.61 and a 1 year high of $18.19. The firm’s 50-day moving average is $9.64 and its 200 day moving average is $10.30. The stock has a market cap of $1.89 billion, a price-to-earnings ratio of -0.93 and a beta of 0.53. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.18 and a quick ratio of 0.18.

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

Institutional Investors Weigh In On Hawaiian Electric Industries

A number of large investors have recently made changes to their positions in HE. Virtu Financial LLC purchased a new position in shares of Hawaiian Electric Industries in the third quarter worth approximately $821,000. FORA Capital LLC bought a new position in Hawaiian Electric Industries in the third quarter worth approximately $692,000. Franklin Resources Inc. boosted its stake 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 worth $27,499,000 after acquiring an additional 2,362,863 shares during the last quarter. FMR LLC grew its position in shares of 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 valued at $51,698,000 after acquiring an additional 5,274,633 shares during the period. Finally, Fernwood Investment Management LLC grew its position in shares of Hawaiian Electric Industries by 82.8% during the 3rd quarter. Fernwood Investment Management LLC now owns 133,175 shares of the utilities provider’s stock valued at $1,289,000 after acquiring an additional 60,335 shares during the period. 59.91% of the stock is currently owned by institutional investors.

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.