Hawaiian Electric Industries, Inc. $HE Holdings Raised by JPMorgan Chase & Co.

JPMorgan Chase & Co. raised its stake in shares of Hawaiian Electric Industries, Inc. (NYSE:HE) by 153.9% in the third quarter, HoldingsChannel reports. The institutional investor owned 1,243,332 shares of the utilities provider’s stock after purchasing an additional 753,549 shares during the period. JPMorgan Chase & Co.’s holdings in Hawaiian Electric Industries were worth $13,726,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Northwestern Mutual Wealth Management Co. increased its stake in shares of Hawaiian Electric Industries by 142.2% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 2,325 shares of the utilities provider’s stock worth $26,000 after acquiring an additional 1,365 shares during the last quarter. Larson Financial Group LLC boosted its position in Hawaiian Electric Industries by 242.2% during the third quarter. Larson Financial Group LLC now owns 2,741 shares of the utilities provider’s stock valued at $30,000 after purchasing an additional 1,940 shares during the last quarter. Farther Finance Advisors LLC grew its stake in Hawaiian Electric Industries by 37.5% in the third quarter. Farther Finance Advisors LLC now owns 4,125 shares of the utilities provider’s stock valued at $46,000 after purchasing an additional 1,125 shares in the last quarter. SJS Investment Consulting Inc. purchased a new position in Hawaiian Electric Industries in the third quarter valued at about $46,000. Finally, Aster Capital Management DIFC Ltd acquired a new position in Hawaiian Electric Industries in the 3rd quarter worth about $55,000. 59.91% of the stock is currently owned by hedge funds and other institutional investors.

Hawaiian Electric Industries Price Performance

NYSE HE opened at $14.69 on Friday. Hawaiian Electric Industries, Inc. has a fifty-two week low of $9.06 and a fifty-two week high of $17.38. The stock’s 50-day moving average is $15.45 and its two-hundred day moving average is $13.12. The firm has a market cap of $2.53 billion, a P/E ratio of 20.68 and a beta of 0.62. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.32 and a quick ratio of 1.32.

Hawaiian Electric Industries (NYSE:HE) last released its quarterly earnings results on Friday, February 27th. The utilities provider reported $0.24 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.24. The company had revenue of $805.82 million during the quarter. Hawaiian Electric Industries had a return on equity of 9.82% and a net margin of 4.09%. On average, analysts anticipate that Hawaiian Electric Industries, Inc. will post 1.71 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on HE shares. Zacks Research raised Hawaiian Electric Industries to a “hold” rating in a research note on Monday, February 9th. Jefferies Financial Group downgraded Hawaiian Electric Industries from a “hold” rating to an “underperform” rating and dropped their price objective for the stock from $13.50 to $12.50 in a report on Tuesday, January 20th. Weiss Ratings raised shares of Hawaiian Electric Industries from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, March 2nd. Wall Street Zen upgraded shares of Hawaiian Electric Industries from a “hold” rating to a “buy” rating in a research note on Saturday, March 7th. Finally, Barclays boosted their target price on shares of Hawaiian Electric Industries from $13.00 to $14.00 and gave the stock an “equal weight” rating in a research report on Monday, March 2nd. Three analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Hawaiian Electric Industries has a consensus rating of “Reduce” and a consensus price target of $13.25.

Hawaiian Electric Industries Company Profile

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.