JPMorgan Chase & Co. Reduces Holdings in Hawaiian Electric Industries, Inc. (HE)
JPMorgan Chase & Co. cut its holdings in Hawaiian Electric Industries, Inc. (NYSE:HE) by 25.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 273,853 shares of the utilities provider’s stock after selling 91,724 shares during the quarter. JPMorgan Chase & Co. owned about 0.25% of Hawaiian Electric Industries worth $8,867,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Hawaiian Electric Industries by 8.3% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,859 shares of the utilities provider’s stock worth $125,000 after purchasing an additional 297 shares in the last quarter. CKW Financial Group increased its stake in Hawaiian Electric Industries by 41.5% in the 2nd quarter. CKW Financial Group now owns 6,136 shares of the utilities provider’s stock worth $199,000 after purchasing an additional 1,801 shares in the last quarter. Airain ltd purchased a new position in Hawaiian Electric Industries in the 1st quarter worth about $203,000. World Asset Management Inc increased its stake in Hawaiian Electric Industries by 2.2% in the 2nd quarter. World Asset Management Inc now owns 6,873 shares of the utilities provider’s stock worth $223,000 after purchasing an additional 150 shares in the last quarter. Finally, State of Alaska Department of Revenue increased its stake in Hawaiian Electric Industries by 6.7% in the 2nd quarter. State of Alaska Department of Revenue now owns 7,279 shares of the utilities provider’s stock worth $235,000 after purchasing an additional 456 shares in the last quarter. Hedge funds and other institutional investors own 48.49% of the company’s stock.
HE has been the topic of a number of analyst reports. BidaskClub cut Hawaiian Electric Industries from a “hold” rating to a “sell” rating in a research note on Tuesday, June 27th. Zacks Investment Research raised Hawaiian Electric Industries from a “sell” rating to a “hold” rating in a research note on Wednesday, July 26th.
Hawaiian Electric Industries, Inc. (HE) opened at 33.37 on Friday. The company has a 50-day moving average price of $33.38 and a 200-day moving average price of $33.14. The stock has a market cap of $3.63 billion, a PE ratio of 14.86 and a beta of 0.47. Hawaiian Electric Industries, Inc. has a 52 week low of $28.31 and a 52 week high of $34.64.
Hawaiian Electric Industries (NYSE:HE) last released its earnings results on Thursday, August 3rd. The utilities provider reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.03). Hawaiian Electric Industries had a net margin of 9.91% and a return on equity of 8.83%. The company had revenue of $556.90 million during the quarter, compared to analyst estimates of $568.00 million. During the same period in the previous year, the company posted $0.43 EPS. The company’s quarterly revenue was up 12.4% compared to the same quarter last year. Analysts anticipate that Hawaiian Electric Industries, Inc. will post $1.63 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 12th. Shareholders of record on Wednesday, August 23rd were paid a $0.31 dividend. This represents a $1.24 annualized dividend and a yield of 3.72%. The ex-dividend date of this dividend was Monday, August 21st. Hawaiian Electric Industries’s payout ratio is 55.11%.
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Hawaiian Electric Industries Profile
Hawaiian Electric Industries, Inc is a holding company with its principal subsidiaries engaged in electric utility and banking businesses operating primarily in the State of Hawaii. The Company’s subsidiaries include Hawaiian Electric Company, Inc (Hawaiian Electric) and ASB Hawaii, Inc (ASB Hawaii).
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