Companhia Paranaense de Energia – Copel (NYSE:ELPC) Hits New 12-Month High – Here’s What Happened

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 $10.59 and last traded at $10.5650, with a volume of 23262 shares traded. The stock had previously closed at $10.35.

Wall Street Analyst Weigh In

ELPC has been the topic of a number of analyst reports. The Goldman Sachs Group initiated coverage on shares of Companhia Paranaense de Energia – Copel in a research report on Wednesday. They set a “buy” rating and a $10.40 price objective on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Companhia Paranaense de Energia – Copel in a report on Wednesday, January 21st. Finally, 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 given a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $10.40.

Companhia Paranaense de Energia – Copel Trading Down 2.5%

The company has a market capitalization of $7.53 billion, a PE ratio of 21.16 and a beta of 0.03. The firm’s 50-day simple moving average is $9.62 and its 200-day simple moving average is $9.04.

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

Companhia Paranaense de Energia – Copel Announces Dividend

The company also recently announced a special dividend, which will be paid on Friday, July 10th. Shareholders of record on Monday, January 5th will be given 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 135.29%.

Hedge Funds Weigh In On Companhia Paranaense de Energia – Copel

Several institutional investors have recently made changes to their positions in ELPC. Robeco Institutional Asset Management B.V. grew its holdings in Companhia Paranaense de Energia – Copel by 288.1% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 653,418 shares of the company’s stock worth $6,214,000 after acquiring an additional 485,063 shares in the last quarter. Hennion & Walsh Asset Management Inc. purchased a new stake in shares of Companhia Paranaense de Energia – Copel in the 4th quarter worth approximately $921,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Companhia Paranaense de Energia – Copel in the 4th quarter worth approximately $848,000. Blue Trust Inc. boosted its stake in shares of Companhia Paranaense de Energia – Copel by 2,635.1% during the fourth quarter. Blue Trust Inc. now owns 48,055 shares of the company’s stock valued at $457,000 after purchasing an additional 46,298 shares in the last quarter. Finally, Perpetual Ltd purchased a new position in Companhia Paranaense de Energia – Copel during the fourth quarter valued at approximately $276,000.

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.