Companhia Paranaense de Energia – Copel (NYSE:ELPC) Reaches New 1-Year High – Here’s Why

Shares of Companhia Paranaense de Energia – Copel Unsponsored ADR (NYSE:ELPC) reached a new 52-week high during trading on Thursday . The company traded as high as $11.95 and last traded at $11.88, with a volume of 491015 shares. The stock had previously closed at $11.68.

Analysts Set New Price Targets

ELPC has been the topic of several research reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Companhia Paranaense de Energia – Copel in a research report on Wednesday, January 21st. Wall Street Zen upgraded Companhia Paranaense de Energia – Copel from a “hold” rating to a “strong-buy” rating in a research note on Saturday, March 7th. Scotiabank upgraded Companhia Paranaense de Energia – Copel to a “strong-buy” rating in a report on Friday, January 9th. Zacks Research raised Companhia Paranaense de Energia – Copel to a “hold” rating in a research note on Friday, January 30th. Finally, The Goldman Sachs Group initiated coverage on Companhia Paranaense de Energia – Copel in a report on Wednesday, January 28th. They set a “buy” rating and a $10.40 target price for the company. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, 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 Trading Up 2.0%

The firm has a market cap of $8.87 billion, a PE ratio of 21.66, a P/E/G ratio of 2.90 and a beta of -0.11. The stock’s 50 day moving average price is $10.56 and its 200 day moving average price is $9.74.

Companhia Paranaense de Energia – Copel (NYSE:ELPC) last announced its quarterly earnings results on Friday, February 27th. The company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.03. The business 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 announced a special dividend, which will be paid on Friday, July 10th. Stockholders of record on Monday, January 5th will be given 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 presently 125.45%.

Institutional Investors Weigh In On Companhia Paranaense de Energia – Copel

Several hedge funds have recently modified their holdings of the stock. Federation des caisses Desjardins du Quebec boosted its stake in shares of 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 valued at $27,000 after buying an additional 1,650 shares during the last quarter. Allworth Financial LP bought a new stake in shares of Companhia Paranaense de Energia – Copel in the second quarter worth $28,000. Arax Advisory Partners acquired a new stake in Companhia Paranaense de Energia – Copel in the fourth quarter valued at $45,000. Farther Finance Advisors LLC raised its holdings in Companhia Paranaense de Energia – Copel by 8,715.5% in the fourth quarter. Farther Finance Advisors LLC now owns 5,113 shares of the company’s stock valued at $49,000 after acquiring an additional 5,055 shares in the last quarter. Finally, Atlas Capital Advisors Inc. acquired a new position in Companhia Paranaense de Energia – Copel during the 4th quarter worth $49,000.

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.