Companhia Paranaense de Energia – Copel (NYSE:ELPC) Sets New 52-Week High – Here’s Why

Companhia Paranaense de Energia – Copel Unsponsored ADR (NYSE:ELPC) hit a new 52-week high on Tuesday . The company traded as high as $12.01 and last traded at $11.9550, with a volume of 803092 shares changing hands. The stock had previously closed at $11.43.

Wall Street Analyst Weigh In

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

Companhia Paranaense de Energia – Copel Stock Performance

The stock has a market capitalization of $9.12 billion, a PE ratio of 22.29, a PEG ratio of 3.78 and a beta of -0.11. The business has a 50 day moving average of $11.03 and a two-hundred day moving average of $9.97.

Companhia Paranaense de Energia – Copel (NYSE:ELPC) last posted its earnings results on Thursday, February 26th. 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 $1.25 billion during the quarter, compared to analysts’ expectations of $4.52 billion.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of ELPC. Hsbc Holdings PLC purchased a new stake in Companhia Paranaense de Energia – Copel during the fourth quarter valued at approximately $1,730,000. Compound Planning Inc. acquired a new stake in Companhia Paranaense de Energia – Copel in the fourth quarter valued at approximately $114,000. Invesco Ltd. purchased a new position in Companhia Paranaense de Energia – Copel in the fourth quarter worth $370,000. Mercer Global Advisors Inc. ADV acquired a new position in shares of Companhia Paranaense de Energia – Copel during the fourth quarter worth $190,000. Finally, Vident Advisory LLC acquired a new position in shares of Companhia Paranaense de Energia – Copel during the fourth quarter worth $1,089,000.

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.