Wall Street Zen Upgrades Companhia Paranaense de Energia – Copel (NYSE:ELPC) to Strong-Buy

Companhia Paranaense de Energia – Copel (NYSE:ELPC) was upgraded by Wall Street Zen from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Saturday.

Several other equities research analysts have also issued reports on the stock. The Goldman Sachs Group began coverage on shares of Companhia Paranaense de Energia – Copel in a research report on Wednesday, January 28th. They issued a “buy” rating and a $10.40 price objective for the company. Scotiabank upgraded shares of Companhia Paranaense de Energia – Copel to a “strong-buy” rating in a report on Friday, January 9th. Zacks Research raised shares of Companhia Paranaense de Energia – Copel to a “hold” rating in a research report on Friday, January 30th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Companhia Paranaense de Energia – Copel in a research report on Wednesday, January 21st. One equities research 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 MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $10.40.

Companhia Paranaense de Energia – Copel Price Performance

Companhia Paranaense de Energia – Copel stock opened at $11.13 on Friday. Companhia Paranaense de Energia – Copel has a 12 month low of $5.98 and a 12 month high of $11.76. The company has a market cap of $8.28 billion, a price-to-earnings ratio of 20.24, a price-to-earnings-growth ratio of 2.90 and a beta of -0.11. The stock’s 50-day moving average is $10.24 and its 200-day moving average is $9.58.

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

Institutional Investors Weigh In On Companhia Paranaense de Energia – Copel

A number of large investors have recently added to or reduced their stakes in ELPC. Letko Brosseau & Associates Inc. increased its stake in Companhia Paranaense de Energia – Copel by 10,965.8% during the 4th quarter. Letko Brosseau & Associates Inc. now owns 7,276,402 shares of the company’s stock worth $69,199,000 after buying an additional 7,210,646 shares during the period. Goldman Sachs Group Inc. boosted its position in Companhia Paranaense de Energia – Copel by 575.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,078,808 shares of the company’s stock valued at $10,259,000 after buying an additional 919,086 shares during the last quarter. SPX Gestao de Recursos Ltda grew its stake in shares of Companhia Paranaense de Energia – Copel by 1,194.4% during the fourth quarter. SPX Gestao de Recursos Ltda now owns 918,127 shares of the company’s stock valued at $8,731,000 after acquiring an additional 847,198 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its stake in shares of Companhia Paranaense de Energia – Copel by 288.1% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 653,418 shares of the company’s stock valued at $6,214,000 after acquiring an additional 485,063 shares in the last quarter. Finally, Itau Unibanco Holding S.A. purchased a new stake in shares of Companhia Paranaense de Energia – Copel during the fourth quarter worth about $3,935,000.

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.