Companhia Paranaense de Energia – Copel (NYSE:ELPC) Hits New 52-Week High – What’s Next?

Companhia Paranaense de Energia – Copel Unsponsored ADR (NYSE:ELPC) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $11.17 and last traded at $10.8840, with a volume of 123340 shares trading hands. The stock had previously closed at $10.61.

Wall Street Analyst Weigh In

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

Companhia Paranaense de Energia – Copel Price Performance

The company has a market capitalization of $7.97 billion, a P/E ratio of 21.01, a PEG ratio of 3.12 and a beta of 0.02. The company has a 50 day moving average of $9.75 and a 200-day moving average of $9.30.

Companhia Paranaense de Energia – Copel (NYSE:ELPC) last released its quarterly earnings results on Wednesday, December 3rd. The company reported $0.10 EPS for the quarter. The business had revenue of $1.28 billion for the quarter.

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 issued a dividend of $0.3299 per share. The ex-dividend date is Monday, January 5th. Companhia Paranaense de Energia – Copel’s dividend payout ratio is currently 135.29%.

Institutional Inflows and Outflows

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