Zacks Investment Research upgraded shares of CLP (OTCMKTS:CLPHY) from a sell rating to a hold rating in a research note released 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 $11.91 on Wednesday. The stock has a market cap of $31.25 billion, a price-to-earnings ratio of 16.54 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 1 year low of $9.90 and a 1 year high of $12.65.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 28th. Shareholders of record on Friday, March 8th will be issued a dividend of $0.142 per share. This represents a $0.57 dividend on an annualized basis and a yield of 4.77%. This is an increase from CLP’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Thursday, March 7th. CLP’s payout ratio is 34.72%.
CLP Company Profile
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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