Shares of Huaneng Power International Inc. (NYSE:HNP) hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $23.13 and last traded at $23.28, with a volume of 65,976 shares trading hands. The stock had previously closed at $23.85.

Several brokerages recently issued reports on HNP. Macquarie cut shares of Huaneng Power International from an “outperform” rating to a “neutral” rating in a research note on Tuesday, May 31st. Zacks Investment Research cut shares of Huaneng Power International from a “hold” rating to a “strong sell” rating in a research note on Friday, April 29th. Citigroup Inc. cut shares of Huaneng Power International from a “buy” rating to a “sell” rating in a research note on Monday, April 18th. Finally, JPMorgan Chase & Co. cut shares of Huaneng Power International from an “overweight” rating to an “underweight” rating in a research note on Monday, April 11th. Three research analysts have rated the stock with a sell rating and three have assigned a hold rating to the company. Huaneng Power International presently has a consensus rating of “Hold” and a consensus target price of $36.00.

The stock has a market capitalization of $8.85 billion and a price-to-earnings ratio of 4.52. The firm’s 50 day moving average is $26.03 and its 200-day moving average is $30.55.

The company also recently announced a dividend, which was paid on Wednesday, June 29th. Stockholders of record on Wednesday, June 29th were paid a $2.564 dividend. The ex-dividend date of this dividend was Monday, June 27th.

Several hedge funds have recently added to or reduced their stakes in HNP. First Trust Advisors LP boosted its stake in Huaneng Power International by 26.4% in the fourth quarter. First Trust Advisors LP now owns 45,071 shares of the company’s stock valued at $1,546,000 after buying an additional 9,419 shares during the period. Morgan Stanley boosted its stake in Huaneng Power International by 66.4% in the fourth quarter. Morgan Stanley now owns 56,200 shares of the company’s stock valued at $1,928,000 after buying an additional 22,431 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in Huaneng Power International by 0.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 162,942 shares of the company’s stock valued at $5,588,000 after buying an additional 921 shares during the period.

Huaneng Power International, Inc (Huaneng Power) is an independent power producer. The principal activities of the Company are investment, construction, operation and management of power plants. The Company is engaged in developing, constructing, operating and managing power plants throughout China. The Company’s segments include PRC power segment, Singapore segment and all other segments (mainly including port and transportation operations).

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