CLP (OTCMKTS:CLPHY) Stock Rating Upgraded by 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 Friday, 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, Goldman Sachs Group started coverage on CLP in a report on Wednesday, June 26th. They issued a “neutral” rating for the company.

CLPHY stock traded up $0.01 during mid-day trading on Friday, reaching $10.74. The company’s stock had a trading volume of 34,749 shares, compared to its average volume of 62,626. The company has a market capitalization of $27.72 billion, a P/E ratio of 15.79 and a beta of 0.15. The business’s 50 day moving average price is $11.14. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.71 and a current ratio of 0.85. CLP has a 12 month low of $10.61 and a 12 month high of $12.65.

About CLP

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, gas, nuclear, wind, hydro, solar, and oil sources. As of December 31, 2018, it had equity generating capacity of 19,108 megawatts (MW) and purchasing capacity of 4,597 MW.

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