Huaneng Power International (HNP) Downgraded by Zacks Investment Research

Huaneng Power International (NYSE:HNP) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued 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 research analysts have also commented on HNP. JPMorgan Chase & Co. reaffirmed an “overweight” rating on shares of Huaneng Power International in a report on Tuesday, November 7th. Daiwa Capital Markets lowered Huaneng Power International from a “hold” rating to a “sell” rating in a report on Monday, November 27th. CLSA raised Huaneng Power International from a “sell” rating to an “outperform” rating in a report on Monday, November 6th. Finally, ValuEngine lowered Huaneng Power International from a “buy” rating to a “hold” rating in a report on Thursday, September 21st. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $29.00.

Shares of Huaneng Power International (NYSE:HNP) opened at $26.04 on Friday. Huaneng Power International has a 12 month low of $24.40 and a 12 month high of $31.85. The company has a quick ratio of 0.29, a current ratio of 0.33 and a debt-to-equity ratio of 1.29. The firm has a market capitalization of $13,200.00, a price-to-earnings ratio of 24.80, a P/E/G ratio of 0.57 and a beta of 0.77.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Jane Street Group LLC acquired a new position in Huaneng Power International in the 3rd quarter valued at $2,799,000. First Allied Advisory Services Inc. acquired a new position in Huaneng Power International in the 3rd quarter valued at $558,000. Wells Fargo & Company MN grew its holdings in Huaneng Power International by 92.5% in the 3rd quarter. Wells Fargo & Company MN now owns 29,438 shares of the utilities provider’s stock valued at $719,000 after buying an additional 14,149 shares in the last quarter. FDx Advisors Inc. acquired a new position in Huaneng Power International in the 3rd quarter valued at $224,000. Finally, Alps Advisors Inc. grew its holdings in Huaneng Power International by 20.5% in the 3rd quarter. Alps Advisors Inc. now owns 36,389 shares of the utilities provider’s stock valued at $889,000 after buying an additional 6,200 shares in the last quarter. 0.55% of the stock is currently owned by hedge funds and other institutional investors.

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