Huaneng Power International (HNP) Cut to “Neutral” at JPMorgan Chase & Co.

JPMorgan Chase & Co. downgraded shares of Huaneng Power International (NYSE:HNP) from an overweight rating to a neutral rating in a report released on Thursday morning, Marketbeat reports.

HNP has been the topic of several other research reports. ValuEngine raised shares of Huaneng Power International from a sell rating to a hold rating in a research note on Wednesday, July 4th. Zacks Investment Research raised shares of Huaneng Power International from a strong sell rating to a hold rating in a research note on Wednesday, May 16th. Finally, Daiwa Capital Markets raised shares of Huaneng Power International from a sell rating to a hold rating in a research note on Thursday, May 17th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company presently has a consensus rating of Hold and a consensus target price of $30.00.

Shares of Huaneng Power International traded down $1.01, hitting $26.61, during mid-day trading on Thursday, according to Marketbeat. The company’s stock had a trading volume of 47,495 shares, compared to its average volume of 44,985. The stock has a market capitalization of $10.50 billion, a P/E ratio of 34.96, a P/E/G ratio of 1.52 and a beta of 0.73. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.40 and a quick ratio of 0.33. Huaneng Power International has a fifty-two week low of $23.64 and a fifty-two week high of $31.03.

Several institutional investors and hedge funds have recently made changes to their positions in HNP. Two Sigma Investments LP acquired a new position in shares of Huaneng Power International in the fourth quarter worth about $412,000. Goldman Sachs Group Inc. boosted its holdings in shares of Huaneng Power International by 57.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 18,228 shares of the utilities provider’s stock worth $456,000 after buying an additional 6,626 shares during the period. Susquehanna Fundamental Investments LLC acquired a new position in shares of Huaneng Power International in the first quarter worth about $485,000. Banco de Sabadell S.A acquired a new position in shares of Huaneng Power International in the first quarter worth about $504,000. Finally, Wells Fargo & Company MN boosted its holdings in shares of Huaneng Power International by 10.2% in the fourth quarter. Wells Fargo & Company MN now owns 32,443 shares of the utilities provider’s stock worth $811,000 after buying an additional 3,005 shares during the period. Institutional investors own 0.54% of the company’s stock.

Huaneng Power International Company Profile

Huaneng Power International, Inc, through its subsidiaries, generates and sells electricity and heat to the regional or provincial grid companies in the People's Republic of China and Singapore. 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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