China Shenhua Energy (OTCMKTS:CSUAY) Shares Gap Up - Here's What Happened

Key Points

• China Shenhua Energy's stock gapped up from $18.32 to $19.12 before closing at $18.36, with a trading volume of 5,758 shares.
• UBS Group has downgraded the stock from a "hold" to a "strong sell" rating, contributing to a consensus rating of "Reduce" with a target price of $32.50.
• The company announced a dividend increase to $1.0629 per share, which translates to a yield of 610.0%, up from the previous dividend of $1.05.

China Shenhua Energy Co. (OTCMKTS:CSUAY - Get Free Report) gapped up prior to trading on Monday . The stock had previously closed at $18.32, but opened at $19.12. China Shenhua Energy shares last traded at $18.36, with a volume of 5,758 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, UBS Group lowered shares of China Shenhua Energy from a "hold" rating to a "strong sell" rating in a research report on Wednesday, July 16th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Reduce" and a consensus target price of $32.50.

China Shenhua Energy Stock Performance

The firm has a 50 day moving average of $17.37 and a 200-day moving average of $16.50. The stock has a market capitalization of $91.24 billion, a PE ratio of 11.33 and a beta of 0.22. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.04 and a current ratio of 2.17.

China Shenhua Energy Increases Dividend

The business also recently disclosed a dividend, which will be paid on Wednesday, September 3rd. Stockholders of record on Tuesday, July 1st will be issued a dividend of $1.0629 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a dividend yield of 610.0%. This is a positive change from China Shenhua Energy's previous dividend of $1.05. China Shenhua Energy's payout ratio is currently 65.43%.

China Shenhua Energy Company Profile

China Shenhua Energy Company Limited, together with its subsidiaries, engages in the production and sale of coal and power; railway, port, and shipping transportation; and coal-to-olefins businesses in the People's Republic of China and internationally. It operates through six segments: Coal, Power Generation, Railway, Port, Shipping, and Coal Chemical.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.