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

Companhia Paranaense de Energia – Copel Unsponsored ADR (NYSE:ELPC) hit a new 52-week high on Wednesday . The stock traded as high as $11.98 and last traded at $11.9040, with a volume of 379051 shares traded. The stock had previously closed at $11.69.

Analysts Set New Price Targets

Several research firms recently weighed in on ELPC. 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 shares of Companhia Paranaense de Energia – Copel to a “strong-buy” rating in a research note on Friday, January 9th. The Goldman Sachs Group started coverage on shares of Companhia Paranaense de Energia – Copel in a research report on Wednesday, January 28th. They set a “buy” rating and a $10.40 price objective for the company. Zacks Research upgraded shares of Companhia Paranaense de Energia – Copel to a “hold” rating in a report on Friday, January 30th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Companhia Paranaense de Energia – Copel in a research report on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $10.40.

Companhia Paranaense de Energia – Copel Price Performance

The firm has a market cap of $8.82 billion, a price-to-earnings ratio of 21.55, a PEG ratio of 3.34 and a beta of -0.11. The stock has a 50-day moving average price of $10.74 and a 200 day moving average price of $9.84.

Companhia Paranaense de Energia – Copel (NYSE:ELPC) last announced its earnings results on Friday, February 27th. The company reported $0.11 earnings per share (EPS) for the quarter, beating 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.

Institutional Investors Weigh In On Companhia Paranaense de Energia – Copel

Several large investors have recently modified their holdings of the company. Federation des caisses Desjardins du Quebec increased its holdings 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 valued at $27,000 after acquiring an additional 1,650 shares during the period. Allworth Financial LP purchased a new position in Companhia Paranaense de Energia – Copel during the 2nd quarter worth $28,000. Arax Advisory Partners purchased a new position in Companhia Paranaense de Energia – Copel during the 4th quarter worth $45,000. Farther Finance Advisors LLC grew its position 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 last quarter. Finally, Atlas Capital Advisors Inc. acquired a new position in Companhia Paranaense de Energia – Copel in the fourth quarter valued at $49,000.

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.