CPFL Energia (NYSE:CPL) Now Covered by JPMorgan Chase & Co.

Analysts at JPMorgan Chase & Co. assumed coverage on shares of CPFL Energia (NYSE:CPL) in a research report issued on Wednesday, The Fly reports. The firm set an “overweight” rating on the utilities provider’s stock.

A number of other research analysts have also recently commented on the company. ValuEngine cut CPFL Energia from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Bradesco Corretora assumed coverage on CPFL Energia in a research note on Monday, July 22nd. They set an “outperform” rating on the stock. Finally, TheStreet raised CPFL Energia from a “c” rating to a “b-” rating in a research note on Tuesday, June 11th. One research analyst has rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company. The company has an average rating of “Hold”.

CPL traded up $0.35 during trading on Wednesday, reaching $16.26. The stock had a trading volume of 24,034 shares, compared to its average volume of 27,076. The stock has a market cap of $9.07 billion, a PE ratio of 12.69 and a beta of 0.44. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.58 and a current ratio of 1.58. CPFL Energia has a one year low of $12.85 and a one year high of $18.17. The business has a 50-day moving average of $15.69 and a 200-day moving average of $15.58.

CPFL Energia (NYSE:CPL) last released its earnings results on Thursday, August 15th. The utilities provider reported $0.29 EPS for the quarter. The business had revenue of $1.79 billion for the quarter. CPFL Energia had a return on equity of 17.52% and a net margin of 8.47%.

Several large investors have recently made changes to their positions in the company. Renaissance Technologies LLC grew its stake in shares of CPFL Energia by 2.0% during the second quarter. Renaissance Technologies LLC now owns 1,056,311 shares of the utilities provider’s stock valued at $16,500,000 after buying an additional 21,125 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of CPFL Energia by 106.8% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 52,649 shares of the utilities provider’s stock valued at $822,000 after buying an additional 27,192 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of CPFL Energia by 142.9% during the second quarter. JPMorgan Chase & Co. now owns 28,901 shares of the utilities provider’s stock valued at $444,000 after buying an additional 17,002 shares during the last quarter. Finally, Marshall Wace LLP purchased a new stake in shares of CPFL Energia during the second quarter worth about $446,000. 0.29% of the stock is currently owned by hedge funds and other institutional investors.

About CPFL Energia

CPFL Energia SA, through its subsidiaries, generates, transmits, distributes, and commercializes electricity to residential, industrial, and commercial customers in Brazil. The company generates electricity through wind, biomass, 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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