CLP (CLPHY) Upgraded at Zacks Investment Research
CLP (OTCMKTS:CLPHY) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday.
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. “
Shares of OTCMKTS:CLPHY opened at $11.64 on Tuesday. The firm has a market capitalization of $29.53 billion, a PE ratio of 16.16 and a beta of 0.25. The company has a quick ratio of 0.77, a current ratio of 0.94 and a debt-to-equity ratio of 0.40. CLP has a 52 week low of $9.92 and a 52 week high of $12.65.
CLP Holdings Limited, an investment holding company, generates, transmits, and distributes electricity in Hong Kong, Mainland China, India, Southeast Asia, Taiwan, and Australia. The company generates electricity through coal, oil, gas, nuclear, wind, hydro, and solar power plants. It is also involved in the provision of pumped storage and engineering services; research and development activities; property investment; and retail of electricity and gas.
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