Wall Street Zen Downgrades Companhia Paranaense de Energia – Copel (NYSE:ELPC) to Buy

Companhia Paranaense de Energia – Copel (NYSE:ELPC) was downgraded by Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research note issued on Saturday.

A number of other equities analysts have also recently commented on the stock. The Goldman Sachs Group began coverage on shares of Companhia Paranaense de Energia – Copel in a research note on Wednesday, January 28th. They issued a “buy” rating and a $10.40 price objective for the company. Weiss Ratings reissued a “hold (c)” rating on shares of Companhia Paranaense de Energia – Copel in a research note on Monday, April 20th. Zacks Research raised shares of Companhia Paranaense de Energia – Copel to a “hold” rating in a research note on Friday, January 30th. Finally, Scotiabank raised shares of Companhia Paranaense de Energia – Copel to a “strong-buy” rating in a research note on Friday, January 9th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $10.40.

Companhia Paranaense de Energia – Copel Stock Performance

Shares of NYSE ELPC opened at $12.63 on Friday. The company has a market cap of $9.40 billion, a P/E ratio of 22.16, a P/E/G ratio of 1.07 and a beta of 0.06. The firm’s fifty day moving average is $12.19 and its two-hundred day moving average is $10.69. Companhia Paranaense de Energia – Copel has a 52-week low of $7.32 and a 52-week high of $13.70.

Companhia Paranaense de Energia – Copel (NYSE:ELPC) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.03). The business had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.13 billion. As a group, analysts forecast that Companhia Paranaense de Energia – Copel will post 0.74 EPS for the current fiscal year.

Insider Activity at Companhia Paranaense de Energia – Copel

In other Companhia Paranaense de Energia – Copel news, Director Pedro Franco Sales sold 153,700 shares of Companhia Paranaense de Energia – Copel stock in a transaction on Wednesday, April 8th. The shares were sold at an average price of $3.19, for a total value of $490,303.00. Following the completion of the transaction, the director directly owned 74,844 shares of the company’s stock, valued at $238,752.36. This trade represents a 67.25% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.

Hedge Funds Weigh In On Companhia Paranaense de Energia – Copel

Large investors have recently made changes to their positions in the company. Hennion & Walsh Asset Management Inc. purchased a new position in shares of Companhia Paranaense de Energia – Copel during the 4th quarter worth about $921,000. Robeco Institutional Asset Management B.V. boosted its stake in shares of 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 purchasing an additional 485,063 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Companhia Paranaense de Energia – Copel during the 4th quarter worth about $848,000. Blue Trust Inc. boosted its stake in shares of Companhia Paranaense de Energia – Copel by 2,635.1% during the 4th quarter. Blue Trust Inc. now owns 48,055 shares of the company’s stock worth $457,000 after purchasing an additional 46,298 shares during the period. Finally, R Squared Ltd purchased a new position in shares of Companhia Paranaense de Energia – Copel during the 4th quarter worth about $426,000.

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.