CLP (OTCMKTS:CLPHY) Raised to “Hold” at Zacks Investment Research

CLP (OTCMKTS:CLPHYGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday, Zacks.com reports.

According to Zacks, “CLP HOLDINGS Limited, a company listed on the Hong Kong Stock Exchange, is the holding company for the CLP Group, which is one of the largest investor-owned power businesses in Asia. Through CLP Power Hong Kong, it operates a vertically integrated electricity supply business in Hong Kong, and provides a highly reliable supply of electricity and excellent customer services to over 5.5 million people in its supply area. The CLP Group also invests in energy businesses outside Hong Kong. It is the largest external investor in the Chinese mainland electricity industry, and a leading international private sector power company in the Asia-Pacific region with an integrated energy business in Australia and interests in generating assets in India, Taiwan and Thailand. “

Separately, DBS Vickers lowered CLP from a “buy” rating to a “hold” rating in a research report on Tuesday, March 1st.

Shares of CLPHY traded down $0.04 during midday trading on Wednesday, hitting $9.78. 54,051 shares of the stock were exchanged, compared to its average volume of 63,054. CLP has a 52-week low of $9.23 and a 52-week high of $10.79. The stock has a fifty day simple moving average of $9.94 and a 200 day simple moving average of $9.87. The company has a current ratio of 0.90, a quick ratio of 0.74 and a debt-to-equity ratio of 0.38.

About CLP (Get Rating)

CLP Holdings Limited, an investment holding company, engages in the generation, transmission, and distribution of electricity in Hong Kong, Mainland China, India, Southeast Asia, Taiwan, and Australia. The company generates electricity through coal, gas, nuclear, and renewable resources, such as wind, hydro, and solar.

Read More

Get a free copy of the Zacks research report on CLP (CLPHY)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for CLP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CLP and related companies with MarketBeat.com's FREE daily email newsletter.