Companhia Paranaense de Energia – COPEL (NYSE:ELP) Upgraded by Zacks Investment Research to “Buy”

Companhia Paranaense de Energia – COPEL (NYSE:ELP) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday, Zacks.com reports. The brokerage presently has a $7.25 price target on the utilities provider’s stock. Zacks Investment Research‘s price target points to a potential upside of 9.02% from the company’s current price.

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. “

Companhia Paranaense de Energia – COPEL stock opened at $6.65 on Wednesday. The firm’s fifty day moving average price is $6.09 and its 200-day moving average price is $5.26. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.10 and a current ratio of 1.12. The stock has a market cap of $3.64 billion, a P/E ratio of 1.51 and a beta of 0.59. Companhia Paranaense de Energia – COPEL has a fifty-two week low of $5.20 and a fifty-two week high of $6.69.

Companhia Paranaense de Energia – COPEL (NYSE:ELP) last posted its quarterly earnings data on Wednesday, August 11th. The utilities provider reported $0.06 earnings per share for the quarter. The firm had revenue of $1.02 billion for the quarter. Companhia Paranaense de Energia – COPEL had a net margin of 17.12% and a return on equity of 16.61%. On average, analysts predict that Companhia Paranaense de Energia – COPEL will post 1.58 earnings per share for the current year.

Several hedge funds have recently added to or reduced their stakes in ELP. BlackRock Inc. grew its holdings in shares of Companhia Paranaense de Energia – COPEL by 1,253.6% during the 1st quarter. BlackRock Inc. now owns 151,457,811 shares of the utilities provider’s stock valued at $190,836,000 after purchasing an additional 140,268,329 shares during the last quarter. Millennium Management LLC grew its holdings in shares of Companhia Paranaense de Energia – COPEL by 42,895.0% during the 1st quarter. Millennium Management LLC now owns 24,226,370 shares of the utilities provider’s stock valued at $30,525,000 after purchasing an additional 24,170,023 shares during the last quarter. Letko Brosseau & Associates Inc. bought a new position in shares of Companhia Paranaense de Energia – COPEL during the 2nd quarter valued at $35,447,000. Optiver Holding B.V. bought a new position in shares of Companhia Paranaense de Energia – COPEL during the 1st quarter valued at $24,208,000. Finally, AQR Capital Management LLC grew its holdings in shares of Companhia Paranaense de Energia – COPEL by 3,484.3% during the 1st quarter. AQR Capital Management LLC now owns 3,711,230 shares of the utilities provider’s stock valued at $4,676,000 after purchasing an additional 3,607,689 shares during the last quarter. 7.77% of the stock is currently owned by institutional investors.

Companhia Paranaense de Energia – COPEL Company Profile

Companhia Paranaense de Energia engages in the generation, transmission, distribution and sale of electricity. It operates through the following segments: Power Generation and Transmission (GET), Power Distribution (DIS), Telecommunications (TEL), GAS, Power Sale (COM), and Holding Company (HOL). The GET segment include production of electricity from hydraulic, wind, and thermal projects (GER) and also provides services of transmission and transformation of electric power.

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