Huaneng Power International (NYSE:HNP) Downgraded by Zacks Investment Research to Sell

Zacks Investment Research lowered shares of Huaneng Power International (NYSE:HNP) from a hold rating to a sell rating in a report published on Wednesday morning, 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. raised Huaneng Power International from a neutral rating to an overweight rating in a report on Monday, October 11th.

Huaneng Power International stock opened at $21.83 on Wednesday. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.43 and a current ratio of 0.48. Huaneng Power International has a 1-year low of $12.79 and a 1-year high of $28.77. The stock’s 50 day moving average price is $21.47 and its 200 day moving average price is $19.16.

Huaneng Power International (NYSE:HNP) last posted its quarterly earnings results on Tuesday, October 26th. The utilities provider reported ($1.60) earnings per share for the quarter. The company had revenue of $7.64 billion during the quarter. As a group, sell-side analysts forecast that Huaneng Power International will post -0.17 EPS for the current fiscal year.

Hedge funds have recently modified their holdings of the stock. UBS Group AG raised its holdings in Huaneng Power International by 116.0% during the third quarter. UBS Group AG now owns 3,432 shares of the utilities provider’s stock worth $72,000 after purchasing an additional 1,843 shares during the last quarter. Schonfeld Strategic Advisors LLC acquired a new position in Huaneng Power International in the second quarter valued at $165,000. Bank of America Corp DE increased its stake in Huaneng Power International by 155.6% in the second quarter. Bank of America Corp DE now owns 10,685 shares of the utilities provider’s stock valued at $169,000 after purchasing an additional 6,504 shares during the last quarter. Corient Capital Partners LLC acquired a new position in Huaneng Power International in the third quarter valued at $227,000. Finally, FNY Investment Advisers LLC acquired a new position in Huaneng Power International in the third quarter valued at $230,000. 0.33% of the stock is owned by hedge funds and other institutional investors.

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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