Companhia Paranaense de Energia – Copel (NYSE:ELPC) Stock Rating Upgraded by Wall Street Zen

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

A number of other equities research analysts have also recently weighed in on ELPC. 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 price objective on the stock. Zacks Research upgraded shares of Companhia Paranaense de Energia – Copel to a “hold” rating in a research note on Friday, January 30th. Weiss Ratings restated a “hold (c)” rating on shares of Companhia Paranaense de Energia – Copel in a research note on Wednesday, January 21st. Finally, Scotiabank upgraded shares of Companhia Paranaense de Energia – Copel to a “strong-buy” rating in a research note on Friday, January 9th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $10.40.

Companhia Paranaense de Energia – Copel Stock Performance

ELPC stock opened at $12.34 on Friday. The stock has a market capitalization of $9.18 billion, a price-to-earnings ratio of 22.43, a PEG ratio of 3.91 and a beta of -0.11. Companhia Paranaense de Energia – Copel has a 1 year low of $6.13 and a 1 year high of $12.57. The stock’s fifty day moving average is $11.16 and its two-hundred day moving average is $10.05.

Companhia Paranaense de Energia – Copel (NYSE:ELPC) last posted its earnings results on Thursday, February 26th. The company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.03. The company had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $4.52 billion.

Institutional Investors Weigh In On Companhia Paranaense de Energia – Copel

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Letko Brosseau & Associates Inc. grew its holdings in Companhia Paranaense de Energia – Copel by 10,965.8% during the fourth quarter. Letko Brosseau & Associates Inc. now owns 7,276,402 shares of the company’s stock worth $69,199,000 after acquiring an additional 7,210,646 shares during the period. Goldman Sachs Group Inc. grew its holdings in Companhia Paranaense de Energia – Copel by 575.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,078,808 shares of the company’s stock worth $10,259,000 after acquiring an additional 919,086 shares during the period. SPX Gestao de Recursos Ltda grew its holdings in Companhia Paranaense de Energia – Copel by 1,194.4% during the fourth quarter. SPX Gestao de Recursos Ltda now owns 918,127 shares of the company’s stock worth $8,731,000 after acquiring an additional 847,198 shares during the period. Robeco Institutional Asset Management B.V. grew its holdings in Companhia Paranaense de Energia – Copel by 288.1% during the fourth 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 during the period. Finally, Itau Unibanco Holding S.A. acquired a new position in Companhia Paranaense de Energia – Copel during the fourth quarter worth about $3,935,000.

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.