BidaskClub upgraded shares of CPFL Energia S.A. (NYSE:CPL) from a buy rating to a strong-buy rating in a research note issued to investors on Sunday morning.

CPFL Energia (NYSE:CPL) traded up 1.03% during midday trading on Friday, hitting $16.75. The stock had a trading volume of 155,053 shares. The company’s 50-day moving average price is $16.02 and its 200 day moving average price is $16.07. CPFL Energia has a 12-month low of $13.27 and a 12-month high of $16.87. The stock has a market cap of $8.53 billion, a P/E ratio of 32.84 and a beta of 1.37.

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Several hedge funds have recently made changes to their positions in the company. Acadian Asset Management LLC bought a new stake in shares of CPFL Energia during the first quarter worth $102,000. Global X Management Co. LLC boosted its stake in shares of CPFL Energia by 2.6% in the first quarter. Global X Management Co. LLC now owns 8,248 shares of the utilities provider’s stock worth $135,000 after buying an additional 210 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. boosted its stake in shares of CPFL Energia by 3.1% in the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 8,291 shares of the utilities provider’s stock worth $136,000 after buying an additional 250 shares in the last quarter. Princeton Alpha Management LP bought a new stake in shares of CPFL Energia during the first quarter worth $167,000. Finally, Koch Industries Inc. bought a new stake in shares of CPFL Energia during the first quarter worth $195,000. 1.86% of the stock is owned by institutional investors.

About CPFL Energia

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 Energy Generation, Commercialization and Services.

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