Companhia Paranaense de Energia – Copel (NYSE:ELPC) Cut to Buy at Wall Street Zen

Wall Street Zen cut shares of Companhia Paranaense de Energia – Copel (NYSE:ELPC) from a strong-buy rating to a buy rating in a report released on Saturday morning.

A number of other equities research analysts have also recently weighed in on ELPC. Zacks Research upgraded Companhia Paranaense de Energia – Copel to a “hold” rating in a research note on Friday, January 30th. Weiss Ratings reiterated a “hold (c)” rating on shares of Companhia Paranaense de Energia – Copel in a research note on Wednesday, January 21st. Scotiabank raised shares of Companhia Paranaense de Energia – Copel to a “strong-buy” rating in a research report on Friday, January 9th. Finally, The Goldman Sachs Group initiated 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. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, Companhia Paranaense de Energia – Copel has a consensus rating of “Moderate Buy” and a consensus price target of $10.40.

Companhia Paranaense de Energia – Copel Stock Up 0.7%

Shares of NYSE:ELPC opened at $11.49 on Friday. The company has a market capitalization of $8.55 billion, a price-to-earnings ratio of 20.88, a price-to-earnings-growth ratio of 3.61 and a beta of -0.11. Companhia Paranaense de Energia – Copel has a 52 week low of $6.13 and a 52 week high of $12.00. The firm has a 50 day moving average of $10.93 and a 200 day moving average of $9.93.

Companhia Paranaense de Energia – Copel (NYSE:ELPC) last announced 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 for the quarter, compared to the consensus estimate of $4.52 billion.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ELPC. R Squared Ltd acquired a new stake in shares of Companhia Paranaense de Energia – Copel during the fourth quarter worth $426,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Companhia Paranaense de Energia – Copel during the fourth quarter valued at $848,000. PFG Investments LLC acquired a new position in shares of Companhia Paranaense de Energia – Copel in the 4th quarter valued at $121,000. SageGuard Financial Group LLC purchased a new position in Companhia Paranaense de Energia – Copel in the 4th quarter worth $127,000. Finally, PDS Planning Inc purchased a new position in Companhia Paranaense de Energia – Copel in the 4th quarter worth $218,000.

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.