CPFL Energia (CPL) Upgraded at ValuEngine

ValuEngine upgraded shares of CPFL Energia (NYSE:CPL) from a hold rating to a buy rating in a research note released on Friday, May 10th, ValuEngine reports.

NYSE:CPL traded down $0.35 during mid-day trading on Friday, reaching $14.06. The company’s stock had a trading volume of 12,600 shares, compared to its average volume of 20,032. CPFL Energia has a 12-month low of $10.36 and a 12-month high of $18.17. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.13 and a current ratio of 1.13. The firm has a market cap of $7.25 billion, a price-to-earnings ratio of 12.35 and a beta of 0.70.

The firm also recently declared an annual dividend, which was paid on Friday, May 3rd. Stockholders of record on Friday, May 3rd were given a dividend of $0.225 per share. The ex-dividend date was Thursday, May 2nd. This represents a dividend yield of 1.5%. This is a positive change from CPFL Energia’s previous annual dividend of $0.14.

A number of institutional investors have recently added to or reduced their stakes in CPL. Advisors Preferred LLC bought a new position in CPFL Energia in the 4th quarter worth approximately $46,000. Eqis Capital Management Inc. bought a new position in shares of CPFL Energia during the 4th quarter valued at approximately $221,000. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of CPFL Energia during the 4th quarter valued at approximately $219,000. Bank of America Corp DE boosted its position in shares of CPFL Energia by 52.6% during the 4th quarter. Bank of America Corp DE now owns 119,045 shares of the utilities provider’s stock valued at $1,762,000 after acquiring an additional 41,018 shares during the last quarter. Finally, Jane Street Group LLC bought a new position in shares of CPFL Energia during the 4th quarter valued at approximately $283,000. 0.36% of the stock is owned by institutional investors.

CPFL Energia Company Profile

CPFL Energia SA, together with its subsidiaries, generates, transmits, distributes, and commercializes electricity to residential, industrial, and commercial customers in Brazil. The company generates electricity through wind, biomass-powered thermal, solar, and hydroelectric power plants. It also manufactures, commercializes, rents, and maintains electro-mechanical equipment; and offers administrative, call center, collection, IT, telecommunication, energy transmission, and energy efficiency management services, as well as maintenance services for energy generation companies.

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