Huaneng Power International (HNP) Cut to “Strong Sell” at Zacks Investment Research

Huaneng Power International (NYSE:HNP) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Friday, March 16th.

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. “

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Separately, 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. Three analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $30.00.

Shares of Huaneng Power International stock traded down $0.72 during trading on Friday, hitting $25.62. The company’s stock had a trading volume of 64,494 shares, compared to its average volume of 85,385. The company has a debt-to-equity ratio of 1.14, a current ratio of 0.31 and a quick ratio of 0.26. The firm has a market cap of $9,735.86, a price-to-earnings ratio of 7.93, a PEG ratio of 1.07 and a beta of 0.62. Huaneng Power International has a 52 week low of $23.64 and a 52 week high of $31.85.

Several hedge funds have recently added to or reduced their stakes in HNP. Northern Trust Corp increased its position in Huaneng Power International by 8.8% in the second quarter. Northern Trust Corp now owns 8,805 shares of the utilities provider’s stock worth $244,000 after purchasing an additional 710 shares during the last quarter. Ameriprise Financial Inc. increased its position in Huaneng Power International by 1.4% in the second quarter. Ameriprise Financial Inc. now owns 9,133 shares of the utilities provider’s stock worth $263,000 after purchasing an additional 124 shares during the last quarter. FDx Advisors Inc. bought a new stake in Huaneng Power International in the third quarter worth $224,000. State Street Corp increased its position in Huaneng Power International by 2.2% in the second quarter. State Street Corp now owns 14,577 shares of the utilities provider’s stock worth $405,000 after purchasing an additional 307 shares during the last quarter. Finally, Two Sigma Investments LP bought a new stake in Huaneng Power International in the fourth quarter worth $412,000. 0.42% of the stock is currently owned by hedge funds and other institutional investors.

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Huaneng Power International Company Profile

Huaneng Power International, Inc, an independent power producer, generates and sells electricity and heat to the regional or provincial grid companies in the People's Republic of China and Singapore. It is involved in the development, construction, operation, and management of power plants and related projects; and generation, wholesale, and retail of power and other relating utilities.

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