Companhia Paranaense de Energia – Copel (NYSE:ELPC) Sets New 1-Year High – Still a Buy?

Companhia Paranaense de Energia – Copel Unsponsored ADR (NYSE:ELPC)’s share price hit a new 52-week high during trading on Wednesday . The company traded as high as $11.98 and last traded at $11.9040, with a volume of 379051 shares changing hands. The stock had previously closed at $11.69.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on ELPC shares. Zacks Research raised Companhia Paranaense de Energia – Copel to a “hold” rating in a research report on Friday, January 30th. Wall Street Zen raised shares of Companhia Paranaense de Energia – Copel from a “hold” rating to a “strong-buy” rating in a research note on Saturday, March 7th. 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 objective for the company. Scotiabank raised shares of Companhia Paranaense de Energia – Copel to a “strong-buy” rating in a research note on Friday, January 9th. 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 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 MarketBeat.com, Companhia Paranaense de Energia – Copel presently has an average rating of “Moderate Buy” and an average target price of $10.40.

Companhia Paranaense de Energia – Copel Trading Up 1.4%

The firm has a market cap of $8.82 billion, a PE ratio of 21.55, a PEG ratio of 3.34 and a beta of -0.11. The firm has a 50 day moving average price of $10.74 and a 200-day moving average price of $9.84.

Companhia Paranaense de Energia – Copel (NYSE:ELPC) last released its earnings results on Friday, February 27th. The company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.03. The firm had revenue of $1.30 billion for the quarter, compared to analysts’ expectations of $4.52 billion.

Institutional Investors Weigh In On Companhia Paranaense de Energia – Copel

Institutional investors have recently modified their holdings of the company. Allworth Financial LP acquired a new position in shares of Companhia Paranaense de Energia – Copel during the second quarter worth $28,000. Optiver Holding B.V. raised its stake in Companhia Paranaense de Energia – Copel by 4.0% in the third quarter. Optiver Holding B.V. now owns 299,739 shares of the company’s stock valued at $2,686,000 after buying an additional 11,611 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Companhia Paranaense de Energia – Copel by 35,238.9% during the 4th quarter. GAMMA Investing LLC now owns 12,722 shares of the company’s stock worth $121,000 after buying an additional 12,686 shares during the last quarter. Hennion & Walsh Asset Management Inc. purchased a new stake in Companhia Paranaense de Energia – Copel during the 4th quarter worth about $921,000. Finally, Blue Trust Inc. boosted its position in shares of Companhia Paranaense de Energia – Copel by 2,635.1% during the 4th quarter. Blue Trust Inc. now owns 48,055 shares of the company’s stock worth $457,000 after acquiring an additional 46,298 shares in 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.