Huaneng Power International (HNP) Downgraded to “Hold” at Zacks Investment Research

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

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. “

Several other equities research analysts have also recently issued reports on the stock. Daiwa Capital Markets cut shares of Huaneng Power International from a hold rating to a sell rating in a research report on Monday, November 27th. JPMorgan Chase & Co. reissued an overweight rating on shares of Huaneng Power International in a research report on Tuesday, November 7th. CLSA raised shares of Huaneng Power International from a sell rating to an outperform rating in a research report on Monday, November 6th. Finally, ValuEngine raised shares of Huaneng Power International from a hold rating to a buy rating in a research report on Monday, October 2nd. Two equities research 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. Huaneng Power International currently has a consensus rating of Hold and an average target price of $29.00.

Huaneng Power International (HNP) traded up $0.34 on Friday, hitting $26.38. 59,398 shares of the company traded hands, compared to its average volume of 73,122. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.33 and a quick ratio of 0.29. Huaneng Power International has a twelve month low of $24.40 and a twelve month high of $31.85. The firm has a market capitalization of $9,895.46, a PE ratio of 38.23, a PEG ratio of 0.56 and a beta of 0.79.

A number of hedge funds have recently made changes to their positions in HNP. Jane Street Group LLC acquired a new position in Huaneng Power International during the third quarter valued at approximately $2,799,000. Arrowstreet Capital Limited Partnership acquired a new position in Huaneng Power International during the second quarter valued at approximately $1,469,000. First Allied Advisory Services Inc. acquired a new position in Huaneng Power International during the third quarter valued at approximately $558,000. Wells Fargo & Company MN lifted its position in Huaneng Power International by 92.5% during the third 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. Finally, First Trust Advisors LP lifted its position in Huaneng Power International by 16.9% during the third quarter. First Trust Advisors LP now owns 66,411 shares of the utilities provider’s stock valued at $1,622,000 after buying an additional 9,624 shares in the last quarter. 0.55% of the stock is currently owned by hedge funds and other institutional investors.

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About Huaneng Power International

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