Zacks Investment Research cut shares of CLP (OTCMKTS:CLPHY) from a hold rating to a sell rating in a report issued on Thursday morning, reports.

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, Goldman Sachs Group initiated coverage on Tricida in a report on Wednesday, June 26th. They set a buy rating and a $48.00 price target on the stock.

Shares of OTCMKTS:CLPHY opened at $10.97 on Thursday. The company has a market capitalization of $27.72 billion, a P/E ratio of 16.13 and a beta of 0.15. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.71 and a current ratio of 0.85. CLP has a 1 year low of $10.61 and a 1 year high of $12.65. The firm’s fifty day simple moving average is $11.21.

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, gas, nuclear, wind, hydro, solar, and oil sources. As of December 31, 2018, it had equity generating capacity of 19,108 megawatts (MW) and purchasing capacity of 4,597 MW.

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