Zacks Investment Research Downgrades Huaneng Power International (HNP) to Hold

Zacks Investment Research downgraded shares of Huaneng Power International (NYSE:HNP) from a buy rating to a hold rating in a research note released on Friday.

According to Zacks, “Huaneng Power Intl. develops, constructs, owns and operates large coal-fired power plants throughout China. They own and operate power plants located in Liaoning, Fujian, Hebei, Jiangsu and Guangdong. “

A number of other brokerages have also recently weighed in on HNP. CLSA raised shares of Huaneng Power International from a sell rating to an outperform rating in a research report on Monday, November 6th. ValuEngine cut shares of Huaneng Power International from a buy rating to a hold rating in a research report on Thursday, September 21st. JPMorgan Chase & Co. reiterated an overweight rating on shares of Huaneng Power International in a research note on Tuesday, November 7th. Finally, Daiwa Capital Markets lowered shares of Huaneng Power International from a hold rating to a sell rating in a research note on Monday, November 27th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average target price of $29.00.

Shares of Huaneng Power International (NYSE:HNP) traded up $0.34 during mid-day trading on Friday, reaching $26.38. 59,398 shares of the company’s stock were exchanged, compared to its average volume of 73,122. The firm has a market capitalization of $9,895.46, a PE ratio of 38.23, a price-to-earnings-growth ratio of 0.56 and a beta of 0.79. The company has a current ratio of 0.33, a quick ratio of 0.29 and a debt-to-equity ratio of 1.29. Huaneng Power International has a 1 year low of $24.40 and a 1 year high of $31.85.

Institutional investors and hedge funds have recently bought and sold shares of the company. Advisory Services Network LLC purchased a new stake in shares of Huaneng Power International during the second quarter valued at approximately $102,000. FDx Advisors Inc. purchased a new stake in shares of Huaneng Power International during the third quarter valued at approximately $224,000. Northern Trust Corp raised its stake in shares of Huaneng Power International by 8.8% during the second quarter. Northern Trust Corp now owns 8,805 shares of the utilities provider’s stock valued at $244,000 after purchasing an additional 710 shares during the period. Ameriprise Financial Inc. raised its stake in shares of Huaneng Power International by 1.4% during the second quarter. Ameriprise Financial Inc. now owns 9,133 shares of the utilities provider’s stock valued at $263,000 after purchasing an additional 124 shares during the period. Finally, Profund Advisors LLC raised its stake in shares of Huaneng Power International by 26.1% during the second quarter. Profund Advisors LLC now owns 9,752 shares of the utilities provider’s stock valued at $271,000 after purchasing an additional 2,017 shares during the period. Institutional investors own 0.55% of the company’s stock.

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About Huaneng Power International

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