JPMorgan Chase & Co. Trims Stock Position in Hawaiian Electric Industries, Inc. (NYSE:HE)

JPMorgan Chase & Co. lessened its stake in shares of Hawaiian Electric Industries, Inc. (NYSE:HE - Free Report) by 75.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 308,542 shares of the utilities provider's stock after selling 960,347 shares during the quarter. JPMorgan Chase & Co. owned about 0.18% of Hawaiian Electric Industries worth $2,987,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of HE. Victory Capital Management Inc. boosted its holdings in Hawaiian Electric Industries by 62.0% in the 2nd quarter. Victory Capital Management Inc. now owns 62,952 shares of the utilities provider's stock valued at $568,000 after purchasing an additional 24,087 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Hawaiian Electric Industries by 13.9% in the 2nd quarter. American Century Companies Inc. now owns 177,049 shares of the utilities provider's stock valued at $1,597,000 after buying an additional 21,584 shares during the period. Inspire Investing LLC boosted its stake in shares of Hawaiian Electric Industries by 23.4% in the second quarter. Inspire Investing LLC now owns 39,072 shares of the utilities provider's stock valued at $352,000 after buying an additional 7,413 shares in the last quarter. Evergreen Capital Management LLC acquired a new position in Hawaiian Electric Industries during the second quarter worth $91,000. Finally, Marshall Wace LLP raised its position in Hawaiian Electric Industries by 96.8% in the second quarter. Marshall Wace LLP now owns 313,255 shares of the utilities provider's stock worth $2,826,000 after acquiring an additional 154,116 shares in the last quarter. 59.91% of the stock is owned by institutional investors and hedge funds.

Hawaiian Electric Industries Price Performance

Shares of NYSE:HE traded down $0.01 during midday trading on Monday, hitting $9.14. 2,979,991 shares of the stock were exchanged, compared to its average volume of 2,900,788. Hawaiian Electric Industries, Inc. has a twelve month low of $7.61 and a twelve month high of $18.19. The company has a current ratio of 0.18, a quick ratio of 0.18 and a debt-to-equity ratio of 1.80. The company has a 50 day moving average price of $9.88 and a 200-day moving average price of $11.06. The stock has a market cap of $1.58 billion, a P/E ratio of -0.77 and a beta of 0.53.

Hawaiian Electric Industries (NYSE:HE - Get Free Report) last announced its earnings results on Friday, November 8th. The utilities provider reported $0.46 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.53 by ($0.07). The business had revenue of $983.38 million for the quarter. Hawaiian Electric Industries had a positive return on equity of 11.12% and a negative net margin of 35.38%. The company's revenue was up 9.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.37 EPS. On average, research analysts forecast that Hawaiian Electric Industries, Inc. will post 1.71 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have commented on HE. Wells Fargo & Company decreased their target price on shares of 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. Evercore ISI decreased their price objective on shares of Hawaiian Electric Industries from $11.00 to $10.00 and set an "in-line" rating on the stock in a report on Tuesday, November 19th. StockNews.com raised shares of Hawaiian Electric Industries from a "sell" rating to a "hold" rating in a report on Saturday, January 11th. Finally, Jefferies Financial Group reduced their price target on shares of Hawaiian Electric Industries from $11.50 to $10.50 and set a "hold" rating for the company in a research report on Friday, January 3rd.

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.