Hawaiian Electric Industries, Inc. (NYSE:HE) Stock Has Consensus Target Price of $7.67

Shares of Hawaiian Electric Industries, Inc. (NYSE:HE) have been given a consensus recommendation of “Strong Sell” by the five ratings firms that are currently covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a sell recommendation and two have issued a hold recommendation on the company. The average 12 month target price among analysts that have covered the stock in the last year is $7.67.

A number of equities analysts have recently weighed in on HE shares. Jefferies Financial Group lowered their target price on Hawaiian Electric Industries from $8.75 to $7.00 and set an “underperform” rating on the stock in a research report on Tuesday, October 6th. LADENBURG THALM/SH SH began coverage on shares of Hawaiian Electric Industries in a research report on Tuesday, September 8th. They issued a “sell” rating and a $7.00 price target for the company. Weiss Ratings lowered shares of Hawaiian Electric Industries from a “sell (d+)” rating to a “sell (d)” rating in a research note on Wednesday, October 14th. Barclays lowered their price objective on shares of Hawaiian Electric Industries from $12.00 to $9.00 and set an “equal weight” rating on the stock in a report on Wednesday, September 30th. Finally, Zacks Research raised shares of Hawaiian Electric Industries from a “strong sell” rating to a “hold” rating in a research note on Friday, October 9th.

Hawaiian Electric Industries Price Performance

HE stock opened at $8.34 on Wednesday. The company’s 50-day moving average is $9.79 and its 200-day moving average is $13.21. Hawaiian Electric Industries has a 1 year low of $8.15 and a 1 year high of $17.38.

Hawaiian Electric Industries (NYSE:HE) last issued its earnings results on Friday, August 7th. The utilities provider reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.08). The company had revenue of $939.70 million during the quarter, compared to analyst estimates of $939.70 million. During the same period last year, the firm earned $0.15 earnings per share. As a group, equities analysts predict that Hawaiian Electric Industries will post 0.80 EPS for the current fiscal year.

Institutional Investors Weigh In On Hawaiian Electric Industries

Institutional investors have recently bought and sold shares of the stock. Elevation Wealth Partners LLC lifted its stake in Hawaiian Electric Industries by 961.8% during the 3rd quarter. Elevation Wealth Partners LLC now owns 3,695 shares of the utilities provider’s stock valued at $33,000 after acquiring an additional 3,347 shares in the last quarter. V Square Quantitative Management LLC bought a new position in shares of Hawaiian Electric Industries during the third quarter valued at about $54,000. Allworth Financial LP purchased a new position in Hawaiian Electric Industries during the second quarter worth about $63,000. Global Retirement Partners LLC purchased a new position in Hawaiian Electric Industries during the second quarter worth about $67,000. Finally, Kelleher Financial Advisors purchased a new stake in Hawaiian Electric Industries in the 2nd quarter valued at about $68,000. Institutional investors own 59.91% of the company’s stock.

Hawaiian Electric Industries Company Profile

Hawaiian Electric Industries, Inc (NYSE: HE) is a Hawaii-based holding company whose principal business is providing electric utility service across the state. Through its regulated utility subsidiaries—Hawaiian Electric Company, Maui Electric Company and Hawaii Electric Light—the company generates, purchases, transmits, distributes and sells electricity to residential, commercial and industrial customers on the islands of Oahu, Maui, Molokai, Lanai and Hawaii.

The utility uses a combination of renewable and conventional energy resources and supports Hawaii’s transition toward a cleaner electric system.