The Goldman Sachs Group Initiates Coverage on Companhia Paranaense de Energia – Copel (NYSE:ELPC)

Equities research analysts at The Goldman Sachs Group assumed coverage on shares of Companhia Paranaense de Energia – Copel (NYSE:ELPC) in a research note issued to investors on Wednesday, MarketBeat Ratings reports. The firm set a “buy” rating and a $10.40 price target on the stock. The Goldman Sachs Group’s price objective suggests a potential downside of 1.56% from the company’s current price.

Other equities research analysts have also issued research reports about the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Companhia Paranaense de Energia – Copel in a report 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. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $10.40.

Companhia Paranaense de Energia – Copel Price Performance

NYSE:ELPC opened at $10.57 on Wednesday. The company has a market cap of $7.86 billion, a price-to-earnings ratio of 20.75 and a beta of 0.03. Companhia Paranaense de Energia – Copel has a 1 year low of $5.49 and a 1 year high of $10.65. The stock’s 50 day simple moving average is $9.60 and its two-hundred day simple moving average is $9.02.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Allworth Financial LP purchased a new stake in Companhia Paranaense de Energia – Copel in the 2nd quarter valued at about $28,000. Farther Finance Advisors LLC increased its holdings in Companhia Paranaense de Energia – Copel by 8,715.5% during the 4th quarter. Farther Finance Advisors LLC now owns 5,113 shares of the company’s stock worth $49,000 after purchasing an additional 5,055 shares during the period. CWM LLC raised its holdings in Companhia Paranaense de Energia – Copel by 686.8% in the fourth quarter. CWM LLC now owns 6,373 shares of the company’s stock valued at $61,000 after acquiring an additional 5,563 shares in the last quarter. Venturi Wealth Management LLC acquired a new stake in shares of Companhia Paranaense de Energia – Copel in the 4th quarter valued at $96,000. Finally, GAMMA Investing LLC lifted its position in shares of 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 purchasing an additional 12,686 shares during the last quarter.

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.