Companhia Paranaense de Energia – Copel (NYSE:ELPC) Sees Strong Trading Volume – Time to Buy?

Shares of Companhia Paranaense de Energia – Copel Unsponsored ADR (NYSE:ELPC) saw unusually-strong trading volume on Monday . Approximately 942,449 shares were traded during mid-day trading, an increase of 232% from the previous session’s volume of 283,973 shares.The stock last traded at $11.47 and had previously closed at $11.41.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on ELPC shares. Weiss Ratings restated a “hold (c)” rating on shares of Companhia Paranaense de Energia – Copel in a report on Wednesday, January 21st. Scotiabank raised shares of Companhia Paranaense de Energia – Copel to a “strong-buy” rating in a research report on Friday, January 9th. The Goldman Sachs Group assumed coverage on Companhia Paranaense de Energia – Copel in a report on Wednesday, January 28th. They set a “buy” rating and a $10.40 target price on the stock. Zacks Research raised Companhia Paranaense de Energia – Copel to a “hold” rating in a research report on Friday, January 30th. Finally, Wall Street Zen lowered Companhia Paranaense de Energia – Copel from a “strong-buy” rating to a “buy” rating in a report on Saturday. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $10.40.

Companhia Paranaense de Energia – Copel Stock Up 2.7%

The stock’s 50-day moving average price is $10.98 and its 200 day moving average price is $9.96. The company has a market cap of $9.12 billion, a P/E ratio of 22.29, a price-to-earnings-growth ratio of 3.61 and a beta of -0.11.

Companhia Paranaense de Energia – Copel (NYSE:ELPC) last posted its quarterly earnings data on Thursday, February 26th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.03. The firm had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $4.52 billion.

Institutional Investors Weigh In On Companhia Paranaense de Energia – Copel

Hedge funds and other institutional investors have recently made changes to their positions in the business. Optiver Holding B.V. increased its stake in shares of Companhia Paranaense de Energia – Copel by 4.0% in the third quarter. Optiver Holding B.V. now owns 299,739 shares of the company’s stock worth $2,686,000 after purchasing an additional 11,611 shares during the period. GAMMA Investing LLC grew its holdings in Companhia Paranaense de Energia – Copel by 35,238.9% in the 4th quarter. GAMMA Investing LLC now owns 12,722 shares of the company’s stock valued at $121,000 after buying an additional 12,686 shares during the last quarter. Hennion & Walsh Asset Management Inc. acquired a new stake in Companhia Paranaense de Energia – Copel in the 4th quarter valued at approximately $921,000. Blue Trust Inc. increased its position in Companhia Paranaense de Energia – Copel by 2,635.1% in the 4th quarter. Blue Trust Inc. now owns 48,055 shares of the company’s stock worth $457,000 after buying an additional 46,298 shares during the period. Finally, Perpetual Ltd acquired a new position in shares of Companhia Paranaense de Energia – Copel during the fourth quarter worth approximately $276,000.

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.