Zacks Investment Research upgraded shares of CLP (OTCMKTS:CLPHY) from a hold rating to a buy rating in a research report sent to investors on Tuesday. The brokerage currently has $12.00 price target on the stock.
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, ValuEngine lowered shares of CLP from a buy rating to a hold rating in a report on Friday, February 2nd.
The company also recently announced a quarterly dividend, which was paid on Thursday, March 29th. Investors of record on Friday, March 16th were issued a $0.126 dividend. This represents a $0.50 annualized dividend and a yield of 4.95%. The ex-dividend date of this dividend was Thursday, March 15th. CLP’s dividend payout ratio is 76.92%.
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CLP Company Profile
CLP Holdings Limitedis an investment holding company mainly engaged in the generation and supply of electricity. The Company operates a portfolio of generating assets, harnessing a wide range of fuels including coal, gas, nuclear, wind, hydro and solar. Its business also includes transmission and distribution, and electricity and gas retail activities.
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