Companhia Paranaense de Energia – Copel (NYSE:ELPC) Reaches New 52-Week High – Should You Buy?

Companhia Paranaense de Energia – Copel Unsponsored ADR (NYSE:ELPC) reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $11.95 and last traded at $11.88, with a volume of 491015 shares. The stock had previously closed at $11.68.

Analysts Set New Price Targets

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

Companhia Paranaense de Energia – Copel Stock Up 2.0%

The firm’s fifty day simple moving average is $10.56 and its 200-day simple moving average is $9.74. The company has a market cap of $8.87 billion, a PE ratio of 21.66, a P/E/G ratio of 2.90 and a beta of -0.11.

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

Companhia Paranaense de Energia – Copel Announces Dividend

The firm also recently announced a special dividend, which will be paid on Friday, July 10th. Investors of record on Monday, January 5th will be paid a $0.3299 dividend. The ex-dividend date is Monday, January 5th. Companhia Paranaense de Energia – Copel’s dividend payout ratio is presently 125.45%.

Institutional Trading of Companhia Paranaense de Energia – Copel

A number of hedge funds have recently added to or reduced their stakes in ELPC. Hsbc Holdings PLC purchased a new stake in Companhia Paranaense de Energia – Copel in the 4th quarter valued at about $1,730,000. Compound Planning Inc. purchased a new position in shares of Companhia Paranaense de Energia – Copel during the 4th quarter worth about $114,000. Invesco Ltd. acquired a new stake in shares of Companhia Paranaense de Energia – Copel in the fourth quarter worth approximately $370,000. Mercer Global Advisors Inc. ADV purchased a new stake in Companhia Paranaense de Energia – Copel in the fourth quarter valued at approximately $190,000. Finally, Vident Advisory LLC acquired a new position in Companhia Paranaense de Energia – Copel during the fourth quarter worth approximately $1,089,000.

Companhia Paranaense de Energia – Copel Company Profile

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.