Zacks Investment Research upgraded shares of CLP (OTCMKTS:CLPHY) from a sell rating to a hold rating in a research report sent to investors on Tuesday.

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 CLPHY stock opened at $11.63 on Tuesday. The company has a current ratio of 0.94, a quick ratio of 0.77 and a debt-to-equity ratio of 0.40. CLP has a 12 month low of $9.92 and a 12 month high of $12.65. The stock has a market cap of $29.40 billion, a price-to-earnings ratio of 16.15 and a beta of 0.23.

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 28th. Shareholders of record on Friday, March 8th will be paid a dividend of $0.142 per share. The ex-dividend date of this dividend is Thursday, March 7th. This is an increase from CLP’s previous quarterly dividend of $0.06. This represents a $0.57 dividend on an annualized basis and a yield of 4.89%. CLP’s payout ratio is 79.17%.

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, oil, gas, nuclear, wind, hydro, and solar power plants. It is also involved in the provision of pumped storage and engineering services; research and development activities; property investment; and retail of electricity and gas.

See Also: What are the reasons investors use put options?

Get a free copy of the Zacks research report on CLP (CLPHY)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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