Evercore ISI Issues Pessimistic Forecast for Hawaiian Electric Industries (NYSE:HE) Stock Price

Hawaiian Electric Industries (NYSE:HE) had its price target decreased by equities researchers at Evercore ISI from $11.00 to $10.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has an “in-line” rating on the utilities provider’s stock. Evercore ISI’s target price would suggest a potential downside of 5.21% from the company’s current price.

Several other equities research analysts have also recently issued reports on the company. StockNews.com cut Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a research note on Friday, October 4th. Wells Fargo & Company decreased their price target on 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.

Hawaiian Electric Industries Stock Performance

HE traded down $0.08 during trading on Tuesday, hitting $10.55. The stock had a trading volume of 583,204 shares, compared to its average volume of 3,410,138. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.18 and a quick ratio of 0.18. The company has a 50 day moving average price of $10.30 and a 200-day moving average price of $11.15. Hawaiian Electric Industries has a one year low of $7.61 and a one year high of $18.19. The firm has a market cap of $1.82 billion, a price-to-earnings ratio of -0.89 and a beta of 0.53.

Hawaiian Electric Industries (NYSE:HE) last released its quarterly earnings results 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 previous year, the business earned $0.37 EPS. The business’s quarterly revenue was up 9.0% compared to the same quarter last year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. New Covenant Trust Company N.A. acquired a new position in shares of Hawaiian Electric Industries during the 1st quarter worth $32,000. Abich Financial Wealth Management LLC lifted its holdings in shares of Hawaiian Electric Industries by 54.4% in the first quarter. Abich Financial Wealth Management LLC now owns 3,226 shares of the utilities provider’s stock worth $36,000 after acquiring an additional 1,137 shares during the last quarter. KBC Group NV lifted its holdings in shares of Hawaiian Electric Industries by 34.8% in the third quarter. KBC Group NV now owns 3,956 shares of the utilities provider’s stock worth $38,000 after acquiring an additional 1,021 shares during the last quarter. UMB Bank n.a. acquired a new stake in shares of Hawaiian Electric Industries in the 3rd quarter valued at approximately $42,000. Finally, Quarry LP grew its holdings in shares of Hawaiian Electric Industries by 156.6% during the 3rd quarter. Quarry LP now owns 4,503 shares of the utilities provider’s stock valued at $44,000 after purchasing an additional 2,748 shares during the last quarter. 59.91% of the stock is 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.