Zacks Investment Research Lowers Companhia Paranaense de Energia (NYSE:ELP) to Hold

Zacks Investment Research cut shares of Companhia Paranaense de Energia (NYSE:ELP) from a buy rating to a hold rating in a report issued on Wednesday, Zacks.com reports.

According to Zacks, “Companhia Paranaense de Energia is involved in the Utilities Industry. They are a fully integrated electric power company that is involved in the generation, distributionand transmission of electricity. “

A number of other research firms have also recently weighed in on ELP. ValuEngine cut Companhia Paranaense de Energia from a sell rating to a strong sell rating in a research note on Friday, May 1st. HSBC upgraded Companhia Paranaense de Energia to a buy rating in a research report on Thursday, April 2nd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of Hold and an average target price of $16.00.

Companhia Paranaense de Energia stock opened at $12.55 on Wednesday. Companhia Paranaense de Energia has a 1-year low of $8.28 and a 1-year high of $18.15. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.53 and a quick ratio of 1.50. The stock has a market cap of $3.54 billion, a PE ratio of 7.01 and a beta of 0.78. The stock’s fifty day moving average is $11.88 and its two-hundred day moving average is $12.87.

Companhia Paranaense de Energia (NYSE:ELP) last posted its quarterly earnings results on Friday, May 15th. The utilities provider reported $0.42 earnings per share for the quarter. Companhia Paranaense de Energia had a return on equity of 10.14% and a net margin of 12.14%. The company had revenue of $938.12 million for the quarter. On average, research analysts expect that Companhia Paranaense de Energia will post 1.06 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently bought and sold shares of the company. UBS Group AG increased its position in shares of Companhia Paranaense de Energia by 242.6% during the fourth quarter. UBS Group AG now owns 1,576 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 1,116 shares in the last quarter. CWM LLC increased its position in shares of Companhia Paranaense de Energia by 234.3% during the second quarter. CWM LLC now owns 2,210 shares of the utilities provider’s stock worth $25,000 after purchasing an additional 1,549 shares in the last quarter. Signaturefd LLC increased its position in shares of Companhia Paranaense de Energia by 140.1% during the second quarter. Signaturefd LLC now owns 2,891 shares of the utilities provider’s stock worth $33,000 after purchasing an additional 1,687 shares in the last quarter. Marshall Wace LLP acquired a new stake in shares of Companhia Paranaense de Energia during the fourth quarter worth about $76,000. Finally, Royal Bank of Canada increased its position in shares of Companhia Paranaense de Energia by 61.2% during the first quarter. Royal Bank of Canada now owns 7,277 shares of the utilities provider’s stock worth $75,000 after purchasing an additional 2,762 shares in the last quarter. Institutional investors and hedge funds own 0.40% of the company’s stock.

Companhia Paranaense de Energia Company Profile

Companhia Paranaense de Energia – COPEL engages in the generation, transmission, distribution, and sale of electricity to industrial, residential, commercial, rural, and other customers primarily in the State of ParanĂ¡, Brazil. As of December 31, 2017, the company operated 17 hydroelectric plants, 12 wind plants, and 1 thermoelectric plant with a total installed capacity of 5,024.0 megawatts; and owned and operated 2,698.3 kilometers of transmission lines and 196,951.2 kilometers of distribution lines.

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