Huaneng Power International (NYSE:HNP) Cut to Sell at Zacks Investment Research

Zacks Investment Research downgraded shares of Huaneng Power International (NYSE:HNP) from a hold rating to a sell rating in a report released on Wednesday, Zacks.com reports.

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. “

Separately, JPMorgan Chase & Co. upgraded Huaneng Power International from a neutral rating to an overweight rating in a report on Monday, October 11th.

NYSE HNP opened at $21.83 on Wednesday. The business has a fifty day moving average price of $21.47 and a 200 day moving average price of $19.16. Huaneng Power International has a one year low of $12.79 and a one year high of $28.77. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.48 and a quick ratio of 0.43.

Huaneng Power International (NYSE:HNP) last posted its quarterly earnings data on Tuesday, October 26th. The utilities provider reported ($1.60) EPS for the quarter. The company had revenue of $7.64 billion during the quarter. On average, equities research analysts expect that Huaneng Power International will post -0.17 earnings per share for the current fiscal year.

A number of large investors have recently modified their holdings of the business. Parametric Portfolio Associates LLC grew its holdings in shares of Huaneng Power International by 123.0% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 251,499 shares of the utilities provider’s stock worth $3,989,000 after purchasing an additional 138,731 shares during the period. BlackRock Inc. grew its holdings in shares of Huaneng Power International by 52.2% during the 2nd quarter. BlackRock Inc. now owns 121,028 shares of the utilities provider’s stock worth $1,920,000 after purchasing an additional 41,503 shares during the period. Jane Street Group LLC purchased a new position in shares of Huaneng Power International during the 3rd quarter worth $613,000. Wolverine Trading LLC purchased a new position in shares of Huaneng Power International during the 3rd quarter worth $348,000. Finally, Bank of Montreal Can purchased a new position in shares of Huaneng Power International during the 2nd quarter worth $268,000. Institutional investors own 0.33% of the company’s stock.

About Huaneng Power International

Huaneng Power International, Inc, together with its subsidiaries, generates and sells electricity and heat to the regional or provincial grid companies in the People's Republic of China and internationally. It is involved in the development, investment, 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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