Companhia Paranaense de Energia – Copel (NYSE:ELPC) Stock Rating Upgraded by Zacks Research

Companhia Paranaense de Energia – Copel (NYSE:ELPC) was upgraded by investment analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued on Wednesday, Zacks reports.

Several other research analysts also recently commented on ELPC. Weiss Ratings restated a “hold (c)” rating on shares of Companhia Paranaense de Energia – Copel in a research report on Thursday, October 15th. Wall Street Zen downgraded Companhia Paranaense de Energia – Copel from a “buy” rating to a “hold” rating in a report on Sunday, September 13th. Two investment analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, Companhia Paranaense de Energia – Copel has a consensus rating of “Buy” and a consensus price target of $10.40.

Companhia Paranaense de Energia – Copel Trading Down 1.7%

Shares of NYSE:ELPC opened at $10.78 on Wednesday. The firm has a 50 day moving average of $12.56 and a 200-day moving average of $11.77. The stock has a market capitalization of $8.02 billion, a PE ratio of 20.30, a PEG ratio of 1.32 and a beta of -0.11. Companhia Paranaense de Energia – Copel has a 12 month low of $8.86 and a 12 month high of $14.51.

Companhia Paranaense de Energia – Copel (NYSE:ELPC) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.02. The firm had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.17 billion. On average, research analysts predict that Companhia Paranaense de Energia – Copel will post 0.82 EPS for the current fiscal year.

Insider Activity at Companhia Paranaense de Energia – Copel

In other news, Director Pedro Sales sold 50,000 shares of the stock in a transaction dated Monday, October 19th. The shares were sold at an average price of $3.48, for a total value of $174,000.00. Following the completion of the transaction, the director owned 24,844 shares of the company’s stock, valued at approximately $86,457.12. This represents a 66.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Hedge Funds Weigh In On Companhia Paranaense de Energia – Copel

A number of institutional investors have recently added to or reduced their stakes in ELPC. Mirae Asset Global Investments Co. Ltd. bought a new position in Companhia Paranaense de Energia – Copel in the 3rd quarter valued at approximately $1,003,000. GAMMA Investing LLC boosted its position in Companhia Paranaense de Energia – Copel by 21.7% in the third quarter. GAMMA Investing LLC now owns 17,265 shares of the company’s stock valued at $214,000 after buying an additional 3,079 shares in the last quarter. QRG Capital Management Inc. boosted its position in Companhia Paranaense de Energia – Copel by 13.6% in the second quarter. QRG Capital Management Inc. now owns 14,961 shares of the company’s stock valued at $174,000 after buying an additional 1,786 shares in the last quarter. Altar Rock LLC bought a new stake in shares of Companhia Paranaense de Energia – Copel during the second quarter worth $121,000. Finally, BlueCrest Capital Management Ltd bought a new stake in shares of Companhia Paranaense de Energia – Copel during the second quarter worth $291,000.

About Companhia Paranaense de Energia – Copel

Companhia Paranaense de Energia, known as Copel, is a Brazilian energy and telecommunications company headquartered in the state of Paraná. Founded in 1954, the company operates primarily in Brazil and has historically played a central role in the development of Paraná’s electricity infrastructure.

Copel’s principal activities include the generation, transmission and distribution of electricity. Its generation portfolio includes hydroelectric and wind power assets, while its transmission and distribution businesses deliver electricity to customers across Paraná.