Companhia Paranaense de Energia – Copel (NYSE:ELPC) Reaches New 52-Week High – Here’s Why

Companhia Paranaense de Energia – Copel Unsponsored ADR (NYSE:ELPC) shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $11.85 and last traded at $11.6260, with a volume of 143427 shares. The stock had previously closed at $11.30.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. The Goldman Sachs Group initiated coverage on Companhia Paranaense de Energia – Copel in a report on Wednesday, January 28th. They issued a “buy” rating and a $10.40 price target for the company. Wall Street Zen raised shares of Companhia Paranaense de Energia – Copel from a “hold” rating to a “strong-buy” rating in a research report on Saturday, March 7th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Companhia Paranaense de Energia – Copel in a research report on Wednesday, January 21st. Zacks Research upgraded Companhia Paranaense de Energia – Copel to a “hold” rating in a report on Friday, January 30th. Finally, Scotiabank raised Companhia Paranaense de Energia – Copel to a “strong-buy” rating in a report on Friday, January 9th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Companhia Paranaense de Energia – Copel currently has a consensus rating of “Moderate Buy” and an average target price of $10.40.

Companhia Paranaense de Energia – Copel Stock Performance

The firm has a market capitalization of $8.06 billion, a P/E ratio of 19.74, a price-to-earnings-growth ratio of 3.05 and a beta of -0.11. The firm has a 50 day moving average price of $10.36 and a two-hundred day moving average price of $9.64.

Companhia Paranaense de Energia – Copel (NYSE:ELPC) last posted its quarterly earnings data 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 during the quarter, compared to analyst estimates of $4.52 billion.

Companhia Paranaense de Energia – Copel Dividend Announcement

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

Institutional Trading of Companhia Paranaense de Energia – Copel

Several large investors have recently made changes to their positions in ELPC. Federation des caisses Desjardins du Quebec boosted its position in shares of Companhia Paranaense de Energia – Copel by 143.5% in 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 last quarter. Millennium Management LLC boosted its position in shares of Companhia Paranaense de Energia – Copel by 13.0% during the fourth quarter. Millennium Management LLC now owns 19,083 shares of the company’s stock worth $181,000 after buying an additional 2,190 shares during the period. Allworth Financial LP bought a new position in shares of Companhia Paranaense de Energia – Copel during the 2nd quarter worth approximately $28,000. EverSource Wealth Advisors LLC lifted its position in Companhia Paranaense de Energia – Copel by 222.3% during 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 in the last quarter. Finally, Arax Advisory Partners bought a new position in Companhia Paranaense de Energia – Copel in the fourth quarter valued at approximately $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.