CPFL Energia SA (CPL) Sees Strong Trading Volume
Shares of CPFL Energia SA (NYSE:CPL) saw unusually-strong trading volume on Wednesday . Approximately 581,979 shares were traded during mid-day trading, a decline of 17% from the previous session’s volume of 700,841 shares.The stock last traded at $13.15 and had previously closed at $13.31.
Separately, Zacks Investment Research upgraded shares of CPFL Energia SA from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a report on Thursday, March 24th.
The company’s 50 day moving average price is $11.35 and its 200 day moving average price is $9.64. The firm has a market cap of $6.73 billion and a PE ratio of 22.71.
A hedge fund recently raised its stake in CPFL Energia SA stock. BARING ASSET MANAGEMENT Ltd boosted its position in shares of CPFL Energia SA (NYSE:CPL) by 80.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 492,327 shares of the company’s stock after buying an additional 219,000 shares during the period. BARING ASSET MANAGEMENT Ltd owned approximately 0.10% of CPFL Energia SA worth $3,653,000 at the end of the most recent quarter.
CPFL Energia SA is a holding company. The Company, through its subsidiaries, distributes, generates, transmits and commercializes electricity in Brazil, as well as provides energy-related services. Its segments include Distribution, Conventional Generation Sources, Renewable Generation Sources, Commercialization, Services and Other.