Taesa (TAEE11) drops more than 3% on the Ibovespa this Thursday. Understand

Taesa (TAEE11) drops more than 3% on the Ibovespa this Thursday;  understand the reasons
Taesa (TAEE11)

The action of Taesa (TAEE11) falls sharply in the trading session this Thursday (26), along with other shares of electric companies. The movement of the electricity transmission company follows the fall of the Ibovespa today, which reached 0.75% at 12:15 pm, at 119,927 points.

THE Taesa’s share (TAEE11) hit a loss of 3.08% at the same time, with the shares worth R$ 38.45. In view of the low performance, Taesa is among the Ibovespa’s biggest casualties today.

THE Taesa’s quotation is particularly under pressure on Thursday after JPMorgan downgraded the recommendation for the broadcaster to underweight, that is, below the performand. In addition to cutting the target price of papers TAEE11.

Other electric companies that follow the fall of Taesa are CPFL (CPFE3), falling 0.45% and Equatorial (EQTL3), with a devaluation of 0.70%.

With the worsening of water crisis, the electric companies are under more pressure. In a report by Globo, which presents a kind of X-ray of the situation of the electric sector as a result of the water crisis, the text states that the blackout risk it’s a possibility. “This risk of blackout is the gateway to the rationing“, says Roberto D’Araújo, director of the Ilumina Institute in the article.

In recent days, the government has started a campaign, offering prizes to industries that reduce their electricity consumption. In addition, the Ministry of Mines and Energy (MME) is considering rationing in public agencies.

In addition, the Research Analyst at Ativa Investimentos, Ilan Arbetman, highlights that the postponement of the sale of the stake in Cemig (CMIG4) in the transmitter is also harmful. Due to the instability in the sector due to the water crisis, there is no prospect for when the sale could take place.

Taesa’s share and performance of the electricity sector

At 12:10, the electricity sector fell 1.13% on the stock exchange. See stock performance:

Taesa's shares fall on Thursday, with a water crisis.
Photo: Reproduction TradeMap

Although the water crisis puts the Taesa under pressure at this time, in the last 12 months, Transmissora de Energia Elétrica has gained 53.11%.