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

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

Other research analysts have also recently issued research reports about the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Companhia Paranaense de Energia – Copel in a research note on Wednesday, January 21st. The Goldman Sachs Group assumed coverage on Companhia Paranaense de Energia – Copel in a research note on Wednesday, January 28th. They set a “buy” rating and a $10.40 price target for the company. Scotiabank raised Companhia Paranaense de Energia – Copel to a “strong-buy” rating in a research report on Friday, January 9th. Finally, Zacks Research upgraded Companhia Paranaense de Energia – Copel to a “hold” rating in a research note on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $10.40.

Companhia Paranaense de Energia – Copel Trading Down 0.1%

Shares of ELPC opened at $11.13 on Friday. The company’s fifty day simple moving average is $10.24 and its 200-day simple moving average is $9.57. The company has a market cap of $8.28 billion, a P/E ratio of 20.24, a P/E/G ratio of 2.90 and a beta of -0.11. Companhia Paranaense de Energia – Copel has a twelve month low of $5.98 and a twelve month high of $11.76.

Companhia Paranaense de Energia – Copel (NYSE:ELPC) last released its quarterly earnings results on Friday, February 27th. The company reported $0.11 EPS 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.

Companhia Paranaense de Energia – Copel Announces Dividend

The business also recently declared a special dividend, which will be paid on Friday, July 10th. Stockholders of record on Monday, January 5th will be paid a dividend of $0.3299 per share. The ex-dividend date of this dividend is Monday, January 5th. Companhia Paranaense de Energia – Copel’s payout ratio is currently 125.45%.

Institutional Trading of Companhia Paranaense de Energia – Copel

Large investors have recently modified their holdings of the company. Federation des caisses Desjardins du Quebec increased its holdings in Companhia Paranaense de Energia – Copel by 143.5% during the 4th quarter. Federation des caisses Desjardins du Quebec now owns 2,800 shares of the company’s stock worth $27,000 after purchasing an additional 1,650 shares during the period. Millennium Management LLC raised its position in Companhia Paranaense de Energia – Copel by 13.0% during the 4th quarter. Millennium Management LLC now owns 19,083 shares of the company’s stock valued at $181,000 after purchasing an additional 2,190 shares in the last quarter. Allworth Financial LP purchased a new stake in shares of Companhia Paranaense de Energia – Copel in the 2nd quarter worth $28,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Companhia Paranaense de Energia – Copel by 222.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 5,994 shares of the company’s stock worth $57,000 after buying an additional 4,134 shares during the period. Finally, Arax Advisory Partners bought a new position in shares of Companhia Paranaense de Energia – Copel during the 4th quarter worth $45,000.

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.