Harvest Portfolios Group Inc. Purchases New Position in JinkoSolar Holding Company Limited $JKS

Key Points

• Harvest Portfolios Group Inc. acquired 14,445 shares of JinkoSolar, valued at approximately $269,000, during the 1st quarter.
• JinkoSolar recently announced a quarterly dividend of $0.325, yielding 5.8% annually, despite a negative payout ratio of -25.50%.
• Wall Street analysts have mixed opinions on JinkoSolar, with a consensus rating of "Reduce" and a price target of $27.19.

Harvest Portfolios Group Inc. acquired a new stake in shares of JinkoSolar Holding Company Limited (NYSE:JKS - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 14,445 shares of the semiconductor company's stock, valued at approximately $269,000.

Other institutional investors also recently added to or reduced their stakes in the company. Banque Cantonale Vaudoise bought a new stake in JinkoSolar during the first quarter valued at about $36,000. CANADA LIFE ASSURANCE Co bought a new stake in JinkoSolar during the fourth quarter valued at about $55,000. Caitong International Asset Management Co. Ltd boosted its position in JinkoSolar by 502.4% during the first quarter. Caitong International Asset Management Co. Ltd now owns 5,470 shares of the semiconductor company's stock valued at $102,000 after purchasing an additional 4,562 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its stake in JinkoSolar by 85.1% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 8,697 shares of the semiconductor company's stock valued at $217,000 after buying an additional 3,998 shares during the last quarter. Finally, Barclays PLC raised its stake in JinkoSolar by 425.4% in the fourth quarter. Barclays PLC now owns 12,179 shares of the semiconductor company's stock valued at $303,000 after buying an additional 9,861 shares during the last quarter. Institutional investors own 35.82% of the company's stock.

JinkoSolar Stock Performance

Shares of NYSE:JKS traded up $0.96 during trading on Monday, hitting $23.09. The stock had a trading volume of 547,330 shares, compared to its average volume of 443,038. JinkoSolar Holding Company Limited has a 12-month low of $13.42 and a 12-month high of $37.36. The stock has a market capitalization of $1.19 billion, a price-to-earnings ratio of -4.60 and a beta of 0.13. The company has a quick ratio of 1.07, a current ratio of 1.33 and a debt-to-equity ratio of 1.11. The stock has a 50-day simple moving average of $22.78 and a two-hundred day simple moving average of $20.54.

JinkoSolar Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 16th. Stockholders of record on Wednesday, July 2nd were paid a $0.325 dividend. This represents a $1.30 annualized dividend and a dividend yield of 5.6%. The ex-dividend date was Wednesday, July 2nd. JinkoSolar's dividend payout ratio (DPR) is presently -25.50%.

Analysts Set New Price Targets

Separately, Citigroup cut JinkoSolar from a "buy" rating to a "sell" rating in a research note on Monday, May 5th. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, JinkoSolar has an average rating of "Reduce" and an average target price of $27.19.

About JinkoSolar

JinkoSolar Holding Co, Ltd., together with its subsidiaries, engages in the design, development, production, and marketing of photovoltaic products. The company offers solar modules, silicon wafers, solar cells, recovered silicon materials, and silicon ingots. It also provides solar system integration services; solar power generation and solar system EPC services; and energy storage system, as well as undertakes solar power projects.