Hawaiian Electric Industries (NYSE:HE – Get Free Report) had its price target cut by equities researchers at Barclays from $14.00 to $13.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has an “equal weight” rating on the utilities provider’s stock. Barclays‘s price objective suggests a potential downside of 1.40% from the stock’s previous close.
Several other analysts also recently commented on the stock. Zacks Research downgraded shares of Hawaiian Electric Industries from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 6th. Wall Street Zen cut shares of Hawaiian Electric Industries from a “buy” rating to a “hold” rating in a report on Saturday, April 11th. Finally, Weiss Ratings downgraded shares of Hawaiian Electric Industries from a “sell (d+)” rating to a “sell (d)” rating in a research report on Monday, June 15th. Two equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Reduce” and a consensus price target of $12.75.
Read Our Latest Analysis on Hawaiian Electric Industries
Hawaiian Electric Industries Stock Down 1.0%
Hawaiian Electric Industries (NYSE:HE – Get Free Report) last issued its quarterly earnings data on Friday, May 8th. The utilities provider reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.09). The company had revenue of $746.45 million for the quarter, compared to the consensus estimate of $746.45 million. Hawaiian Electric Industries had a net margin of 4.19% and a return on equity of 9.03%. On average, research analysts expect that Hawaiian Electric Industries will post 1.06 earnings per share for the current fiscal year.
Institutional Trading of Hawaiian Electric Industries
Several hedge funds have recently made changes to their positions in the company. Comerica Bank increased its holdings in Hawaiian Electric Industries by 45.0% in the 1st quarter. Comerica Bank now owns 6,075 shares of the utilities provider’s stock worth $67,000 after acquiring an additional 1,886 shares during the last quarter. Royal Bank of Canada lifted its holdings in Hawaiian Electric Industries by 51.9% during the first quarter. Royal Bank of Canada now owns 379,888 shares of the utilities provider’s stock valued at $4,159,000 after purchasing an additional 129,819 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Hawaiian Electric Industries by 16.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 121,582 shares of the utilities provider’s stock worth $1,331,000 after purchasing an additional 17,158 shares during the period. Empowered Funds LLC boosted its position in Hawaiian Electric Industries by 12.9% during the first quarter. Empowered Funds LLC now owns 26,690 shares of the utilities provider’s stock worth $292,000 after purchasing an additional 3,060 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Hawaiian Electric Industries by 36.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 491,366 shares of the utilities provider’s stock worth $5,380,000 after purchasing an additional 132,321 shares in the last quarter. 59.91% of the stock is currently owned by institutional investors.
About Hawaiian Electric Industries
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.
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