Companhia Paranaense de Energia (NYSE:ELP) Coverage Initiated by Analysts at Goldman Sachs Group

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Goldman Sachs Group started coverage on shares of Companhia Paranaense de Energia (NYSE:ELP) in a report issued on Thursday morning, The Fly reports. The brokerage issued a buy rating on the utilities provider’s stock.

ELP has been the topic of several other reports. JPMorgan Chase & Co. raised shares of Companhia Paranaense de Energia from a neutral rating to an overweight rating in a research note on Monday, August 26th. ValuEngine downgraded shares of Companhia Paranaense de Energia from a sell rating to a strong sell rating in a research note on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. Companhia Paranaense de Energia currently has a consensus rating of Hold.

Shares of ELP stock traded down $0.68 during trading hours on Thursday, hitting $13.64. 480,473 shares of the company’s stock were exchanged, compared to its average volume of 462,165. The company has a market capitalization of $3.82 billion, a PE ratio of 10.10, a PEG ratio of 1.17 and a beta of 0.44. Companhia Paranaense de Energia has a 12-month low of $7.32 and a 12-month high of $14.32. The business’s 50 day simple moving average is $12.97 and its 200-day simple moving average is $12.45. The company has a current ratio of 1.39, a quick ratio of 1.14 and a debt-to-equity ratio of 0.53.

Several institutional investors have recently modified their holdings of the company. Daiwa Securities Group Inc. grew its holdings in shares of Companhia Paranaense de Energia by 1,200.0% in the third quarter. Daiwa Securities Group Inc. now owns 15,600 shares of the utilities provider’s stock worth $187,000 after purchasing an additional 14,400 shares during the last quarter. Wealth Architects LLC bought a new position in shares of Companhia Paranaense de Energia in the third quarter worth approximately $148,000. Envestnet Asset Management Inc. grew its holdings in shares of Companhia Paranaense de Energia by 9.1% in the third quarter. Envestnet Asset Management Inc. now owns 93,596 shares of the utilities provider’s stock worth $1,124,000 after purchasing an additional 7,776 shares during the last quarter. Royal Bank of Canada grew its holdings in shares of Companhia Paranaense de Energia by 3,435.3% in the second quarter. Royal Bank of Canada now owns 5,303 shares of the utilities provider’s stock worth $67,000 after purchasing an additional 5,153 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. grew its holdings in shares of Companhia Paranaense de Energia by 7.5% in the second quarter. D. E. Shaw & Co. Inc. now owns 2,118,167 shares of the utilities provider’s stock worth $26,901,000 after purchasing an additional 147,727 shares during the last quarter. Hedge funds and other institutional investors own 1.25% of the company’s stock.

Companhia Paranaense de Energia Company Profile

Companhia Paranaense de Energia – COPEL engages in the generation, transmission, distribution, and sale of electricity to industrial, residential, commercial, rural, and other customers primarily in the State of ParanĂ¡, Brazil. As of December 31, 2017, the company operated 17 hydroelectric plants, 12 wind plants, and 1 thermoelectric plant with a total installed capacity of 5,024.0 megawatts; and owned and operated 2,698.3 kilometers of transmission lines and 196,951.2 kilometers of distribution lines.

Further Reading: Outstanding Shares and The Effect on Share Price

The Fly

Analyst Recommendations for Companhia Paranaense de Energia (NYSE:ELP)

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