Bank of Montreal Can Buys New Holdings in Huaneng Power International Inc (HNP)

Bank of Montreal Can bought a new position in Huaneng Power International Inc (NYSE:HNP) during the 2nd quarter, Holdings Channel reports. The fund bought 48,106 shares of the utilities provider’s stock, valued at approximately $1,262,000.

Several other hedge funds also recently added to or reduced their stakes in HNP. Goldman Sachs Group Inc. lifted its holdings in shares of Huaneng Power International by 57.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 18,228 shares of the utilities provider’s stock worth $456,000 after buying an additional 6,626 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in shares of Huaneng Power International in the first quarter worth $485,000. Banco de Sabadell S.A purchased a new stake in Huaneng Power International during the first quarter valued at $504,000. Wells Fargo & Company MN raised its stake in Huaneng Power International by 10.2% during the fourth quarter. Wells Fargo & Company MN now owns 32,443 shares of the utilities provider’s stock valued at $811,000 after purchasing an additional 3,005 shares in the last quarter. Finally, Millennium Management LLC raised its stake in Huaneng Power International by 271.7% during the first quarter. Millennium Management LLC now owns 38,557 shares of the utilities provider’s stock valued at $1,035,000 after purchasing an additional 28,183 shares in the last quarter. 0.53% of the stock is currently owned by hedge funds and other institutional investors.

HNP has been the topic of a number of recent research reports. Daiwa Capital Markets raised shares of Huaneng Power International from a “sell” rating to a “hold” rating in a research note on Thursday, May 17th. Zacks Investment Research raised shares of Huaneng Power International from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 16th. ValuEngine raised shares of Huaneng Power International from a “sell” rating to a “hold” rating in a research note on Wednesday, July 4th. Finally, JPMorgan Chase & Co. downgraded shares of Huaneng Power International from an “overweight” rating to a “neutral” rating in a research note on Thursday, August 9th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Huaneng Power International presently has a consensus rating of “Hold” and a consensus target price of $30.00.

Huaneng Power International stock opened at $25.85 on Friday. The firm has a market cap of $10.11 billion, a P/E ratio of 64.10, a price-to-earnings-growth ratio of 1.46 and a beta of 0.73. The company has a current ratio of 0.40, a quick ratio of 0.33 and a debt-to-equity ratio of 1.28. Huaneng Power International Inc has a 52-week low of $23.64 and a 52-week high of $31.03.

About Huaneng Power International

Huaneng Power International, Inc, through its subsidiaries, generates and sells electricity and heat to the regional or provincial grid companies in the People's Republic of China and Singapore. It is involved in the development, investment, construction, operation, and management of power plants and related projects; and generation, wholesale, and retail of power and other relating utilities.

Read More: Should you buy a closed-end mutual fund?

Want to see what other hedge funds are holding HNP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Huaneng Power International Inc (NYSE:HNP).

Institutional Ownership by Quarter for Huaneng Power International (NYSE:HNP)

Receive News & Ratings for Huaneng Power International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Huaneng Power International and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply