JPMorgan Chase & Co. Has $2.99 Million Stake in Hawaiian Electric Industries, Inc. (NYSE:HE)

JPMorgan Chase & Co. decreased its holdings in shares of Hawaiian Electric Industries, Inc. (NYSE:HE) by 75.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 308,542 shares of the utilities provider’s stock after selling 960,347 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.18% of Hawaiian Electric Industries worth $2,987,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Zimmer Partners LP acquired a new position in Hawaiian Electric Industries during the third quarter worth $145,200,000. AQR Capital Management LLC boosted its stake in shares of Hawaiian Electric Industries by 52.8% during the 2nd quarter. AQR Capital Management LLC now owns 6,693,424 shares of the utilities provider’s stock worth $60,308,000 after acquiring an additional 2,312,950 shares in the last quarter. FMR LLC increased its holdings 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 last quarter. Geode Capital Management LLC raised its stake in shares of Hawaiian Electric Industries by 49.3% in the 3rd quarter. Geode Capital Management LLC now owns 3,793,142 shares of the utilities provider’s stock valued at $36,725,000 after acquiring an additional 1,253,143 shares in the last quarter. Finally, State Street Corp lifted its holdings in Hawaiian Electric Industries by 19.8% in the 3rd quarter. State Street Corp now owns 3,368,096 shares of the utilities provider’s stock worth $32,603,000 after purchasing an additional 556,747 shares during the last quarter. Institutional investors own 59.91% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on HE shares. Jefferies Financial Group lowered their price target on Hawaiian Electric Industries from $11.50 to $10.50 and set a “hold” rating on the stock in a report on Friday, January 3rd. StockNews.com upgraded shares of Hawaiian Electric Industries from a “sell” rating to a “hold” rating in a research note on Saturday, January 11th. Evercore ISI cut their target price on shares of Hawaiian Electric Industries from $11.00 to $10.00 and set an “in-line” rating for the company in a research report on Tuesday, November 19th. Finally, Wells Fargo & Company lowered 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 Trading Down 0.1 %

Shares of Hawaiian Electric Industries stock opened at $9.14 on Monday. The company has a market cap of $1.58 billion, a price-to-earnings ratio of -0.77 and a beta of 0.53. Hawaiian Electric Industries, Inc. has a 1 year low of $7.61 and a 1 year high of $18.19. The company’s fifty day simple moving average is $9.88 and its 200-day simple moving average is $11.06. The company has a current ratio of 0.18, a quick ratio of 0.18 and a debt-to-equity ratio of 1.80.

Hawaiian Electric Industries (NYSE:HE) last posted its quarterly earnings data on Friday, November 8th. The utilities provider reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.07). Hawaiian Electric Industries had a positive return on equity of 11.12% and a negative net margin of 35.38%. The company had revenue of $983.38 million for the quarter. During the same quarter last year, the firm posted $0.37 EPS. The business’s revenue for the quarter was up 9.0% on a year-over-year basis. As a group, sell-side analysts expect that Hawaiian Electric Industries, Inc. will post 1.71 EPS for the current year.

Hawaiian Electric Industries Company Profile

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.