Zacks Investment Research Upgrades CLP (CLPHY) to Hold

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

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 $11.87 on Wednesday. The company has a current ratio of 0.94, a quick ratio of 0.77 and a debt-to-equity ratio of 0.40. CLP has a 1-year low of $9.90 and a 1-year high of $12.65. The company has a market cap of $29.94 billion, a price-to-earnings ratio of 16.49 and a beta of 0.25.

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, 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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