Companhia Paranaense de Energia – Copel (NYSE:ELPC) Hits New 12-Month High – What’s Next?

Shares of Companhia Paranaense de Energia – Copel Unsponsored ADR (NYSE:ELPC) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $11.98 and last traded at $11.9040, with a volume of 379051 shares changing hands. The stock had previously closed at $11.69.

Analyst Upgrades and Downgrades

ELPC has been the topic of several research reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Companhia Paranaense de Energia – Copel in a research report on Wednesday, January 21st. Zacks Research upgraded shares of Companhia Paranaense de Energia – Copel to a “hold” rating in a research note on Friday, January 30th. The Goldman Sachs Group began coverage on Companhia Paranaense de Energia – Copel in a research report on Wednesday, January 28th. They set a “buy” rating and a $10.40 target price on the stock. Scotiabank raised Companhia Paranaense de Energia – Copel to a “strong-buy” rating in a report on Friday, January 9th. Finally, Wall Street Zen raised shares of Companhia Paranaense de Energia – Copel from a “hold” rating to a “strong-buy” rating in a research note on Saturday, March 7th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $10.40.

Companhia Paranaense de Energia – Copel Trading Down 2.5%

The stock has a fifty day moving average of $10.84 and a two-hundred day moving average of $9.87. The company has a market capitalization of $8.61 billion, a PE ratio of 21.03, a PEG ratio of 3.38 and a beta of -0.11.

Companhia Paranaense de Energia – Copel (NYSE:ELPC) last announced its quarterly earnings results on Friday, February 27th. The company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.03. The business had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $4.52 billion.

Institutional Investors Weigh In On Companhia Paranaense de Energia – Copel

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ELPC. SageGuard Financial Group LLC bought a new position in Companhia Paranaense de Energia – Copel in the 4th quarter valued at $127,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in Companhia Paranaense de Energia – Copel during the 4th quarter valued at about $848,000. PDS Planning Inc bought a new position in Companhia Paranaense de Energia – Copel in the 4th quarter worth about $218,000. PFG Investments LLC purchased a new position in shares of Companhia Paranaense de Energia – Copel during the fourth quarter worth approximately $121,000. Finally, Farther Finance Advisors LLC raised its stake in shares of Companhia Paranaense de Energia – Copel by 8,715.5% during the fourth quarter. Farther Finance Advisors LLC now owns 5,113 shares of the company’s stock valued at $49,000 after acquiring an additional 5,055 shares in the last quarter.

About Companhia Paranaense de Energia – Copel

Companhia Paranaense de Energia – Copel is a Brazilian utility company primarily engaged in the generation, transmission and distribution of electricity. Established in 1954, Copel operates a diversified portfolio of power plants, with a strong emphasis on hydroelectric facilities supplemented by thermal and renewable energy sources. The company’s integrated network spans the entirety of Paraná state, delivering electricity services to residential, commercial and industrial customers through a combination of high-voltage transmission lines and local distribution networks.

In addition to its core power business, Copel has expanded into telecommunications through its Copel Telecom subsidiary.