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

Shares of Companhia Paranaense de Energia – Copel Unsponsored ADR (NYSE:ELPC) hit a new 52-week high on Monday . The company traded as high as $12.51 and last traded at $12.5310, with a volume of 333363 shares. The stock had previously closed at $12.38.

Wall Street Analyst Weigh In

A number of research firms have issued reports on ELPC. Weiss Ratings restated a “hold (c)” rating on shares of Companhia Paranaense de Energia – Copel in a report on Wednesday, January 21st. Scotiabank upgraded shares of Companhia Paranaense de Energia – Copel to a “strong-buy” rating in a research note on Friday, January 9th. Zacks Research upgraded shares of Companhia Paranaense de Energia – Copel to a “hold” rating in a research report on Friday, January 30th. The Goldman Sachs Group began coverage on shares of Companhia Paranaense de Energia – Copel in a research note on Wednesday, January 28th. They set a “buy” rating and a $10.40 target price on the stock. Finally, Wall Street Zen upgraded shares of Companhia Paranaense de Energia – Copel from a “buy” rating to a “strong-buy” rating in a report on Sunday. One 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 MarketBeat.com, Companhia Paranaense de Energia – Copel currently has a consensus rating of “Moderate Buy” and an average price target of $10.40.

Companhia Paranaense de Energia – Copel Stock Performance

The business has a 50 day moving average of $11.12 and a two-hundred day moving average of $10.03. The firm has a market capitalization of $9.34 billion, a price-to-earnings ratio of 22.63, a P/E/G ratio of 3.91 and a beta of -0.11.

Companhia Paranaense de Energia – Copel (NYSE:ELPC) last released its quarterly earnings data on Thursday, February 26th. The company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.08 by $0.03. The firm had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $4.52 billion.

Institutional Investors Weigh In On Companhia Paranaense de Energia – Copel

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Hsbc Holdings PLC acquired a new stake in shares of Companhia Paranaense de Energia – Copel in the 4th quarter worth about $1,730,000. Compound Planning Inc. acquired a new position in Companhia Paranaense de Energia – Copel during the 4th quarter valued at about $114,000. Invesco Ltd. acquired a new position in Companhia Paranaense de Energia – Copel during the 4th quarter valued at about $370,000. Mercer Global Advisors Inc. ADV bought a new stake in Companhia Paranaense de Energia – Copel during the 4th quarter worth approximately $190,000. Finally, Vident Advisory LLC bought a new stake in Companhia Paranaense de Energia – Copel during the 4th quarter worth approximately $1,089,000.

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.