Hawaiian Electric Industries (NYSE:HE) Sets New 12-Month High – Time to Buy?

Shares of Hawaiian Electric Industries, Inc. (NYSE:HE) reached a new 52-week high on Thursday . The company traded as high as $15.06 and last traded at $15.1750, with a volume of 1071272 shares. The stock had previously closed at $14.72.

Analysts Set New Price Targets

HE has been the topic of several recent research reports. Weiss Ratings reiterated a “sell (d)” rating on shares of Hawaiian Electric Industries in a report on Monday, December 29th. Jefferies Financial Group downgraded shares of Hawaiian Electric Industries from a “hold” rating to an “underperform” rating and cut their target price for the company from $13.50 to $12.50 in a research report on Tuesday. Finally, Barclays raised their target price on shares of Hawaiian Electric Industries from $10.00 to $11.00 and gave the company an “equal weight” rating in a research note on Thursday, January 15th. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus target price of $12.50.

Hawaiian Electric Industries Stock Performance

The stock has a market cap of $2.60 billion, a P/E ratio of 188.00 and a beta of 0.64. The stock has a fifty day simple moving average of $12.35 and a 200-day simple moving average of $11.76. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.79.

Hawaiian Electric Industries (NYSE:HE) last announced its quarterly earnings results on Friday, November 7th. The utilities provider reported $0.19 EPS for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.39. Hawaiian Electric Industries had a return on equity of 9.51% and a net margin of 0.56%.The company had revenue of $790.61 million during the quarter. Equities analysts expect that Hawaiian Electric Industries, Inc. will post 1.71 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Hawaiian Electric Industries

Several institutional investors and hedge funds have recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. raised its stake in Hawaiian Electric Industries by 142.2% during the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 2,325 shares of the utilities provider’s stock worth $26,000 after buying an additional 1,365 shares during the period. Larson Financial Group LLC lifted its holdings in shares of Hawaiian Electric Industries by 242.2% during the 3rd quarter. Larson Financial Group LLC now owns 2,741 shares of the utilities provider’s stock valued at $30,000 after purchasing an additional 1,940 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of Hawaiian Electric Industries by 37.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 4,125 shares of the utilities provider’s stock valued at $46,000 after purchasing an additional 1,125 shares in the last quarter. SJS Investment Consulting Inc. acquired a new position in shares of Hawaiian Electric Industries in the 3rd quarter valued at approximately $46,000. Finally, Ameritas Advisory Services LLC bought a new stake in Hawaiian Electric Industries during the 2nd quarter worth approximately $47,000. Institutional investors and hedge funds own 59.91% of the company’s stock.

Hawaiian Electric Industries Company Profile

Hawaiian Electric Industries, Inc is a diversified holding company operating in the energy and financial services sectors in the state of Hawaii. Its principal subsidiary, Hawaiian Electric Company, provides generation, transmission, distribution and customer service to the island of Oahu, while its Maui Electric and Hawaii Electric Light Company subsidiaries serve Maui, Molokai, Lanai and Hawaii Island. The roots of the electric utility business trace back to 1891 when service first commenced in Honolulu.

Through its subsidiary Hawaii Gas, HEI extends its energy portfolio to include the distribution of natural gas and propane, supporting residential, commercial and industrial customers across the islands.