Zacks Investment Research upgraded shares of CLP Holdings Limited (NASDAQ:CLPHY) from a sell rating to a hold rating in a report issued on Monday.
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 CLP Holdings Limited (NASDAQ CLPHY) traded up 0.39% during midday trading on Monday, reaching $10.24. 359 shares of the company’s stock traded hands. The company has a market capitalization of $25.87 billion and a price-to-earnings ratio of 16.18. The company has a 50-day moving average of $10.35 and a 200-day moving average of $10.58. CLP Holdings Limited has a one year low of $9.05 and a one year high of $11.00.
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About CLP Holdings Limited
CLP Holdings Limited is an investment holding company. The principal activities of the Company’s subsidiaries are the generation and supply of electricity in Hong Kong, India and Australia, and investment holding of power projects in Mainland China, Southeast Asia and Taiwan. The Company is an operator in the energy sector of the Asia-Pacific region.
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