Companhia Paranaense de Energia – Copel (NYSE:ELPC) Sees Large Volume Increase – Should You 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

Several brokerages have issued reports on ELPC. The Goldman Sachs Group began coverage on shares of Companhia Paranaense de Energia – Copel in a report on Wednesday, January 28th. They issued a “buy” rating and a $10.40 price target on the stock. Wall Street Zen downgraded shares of Companhia Paranaense de Energia – Copel from a “strong-buy” rating to a “buy” rating in a report on Saturday. Weiss Ratings reiterated a “hold (c)” rating on shares of Companhia Paranaense de Energia – Copel in a research report on Wednesday, January 21st. Scotiabank raised shares of Companhia Paranaense de Energia – Copel to a “strong-buy” rating in a research note on Friday, January 9th. Finally, Zacks Research raised shares of Companhia Paranaense de Energia – Copel to a “hold” rating in a research report on Friday, January 30th. 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 stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $10.40.

Companhia Paranaense de Energia – Copel Stock Performance

The stock has a market cap of $8.55 billion, a P/E ratio of 20.88, a P/E/G ratio of 3.61 and a beta of -0.11. The company has a 50-day simple moving average of $10.88 and a 200-day simple moving average of $9.91.

Companhia Paranaense de Energia – Copel (NYSE:ELPC) last announced its earnings results on Thursday, February 26th. The company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.08 by $0.03. The business 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

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Federation des caisses Desjardins du Quebec raised its stake in shares of Companhia Paranaense de Energia – Copel by 143.5% in the fourth quarter. Federation des caisses Desjardins du Quebec now owns 2,800 shares of the company’s stock worth $27,000 after acquiring an additional 1,650 shares during the last quarter. Arax Advisory Partners bought a new stake in shares of Companhia Paranaense de Energia – Copel during the fourth quarter valued at approximately $45,000. Farther Finance Advisors LLC increased its holdings in shares of Companhia Paranaense de Energia – Copel by 8,715.5% in the fourth quarter. Farther Finance Advisors LLC now owns 5,113 shares of the company’s stock valued at $49,000 after purchasing an additional 5,055 shares in the last quarter. Atlas Capital Advisors Inc. acquired a new stake in shares of Companhia Paranaense de Energia – Copel in the fourth quarter valued at approximately $49,000. Finally, EverSource Wealth Advisors LLC raised its position in Companhia Paranaense de Energia – Copel by 222.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 5,994 shares of the company’s stock worth $57,000 after purchasing an additional 4,134 shares during the last quarter.

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.