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 “hold” rating to a “buy” rating in a research note issued on Saturday, Wall Street Zen reports.

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Companhia Paranaense de Energia – Copel in a report on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $10.40.

Companhia Paranaense de Energia – Copel Price Performance

ELPC stock opened at $12.28 on Friday. The business has a fifty day moving average price of $11.48 and a 200 day moving average price of $11.75. Companhia Paranaense de Energia – Copel has a fifty-two week low of $8.25 and a fifty-two week high of $13.70. The stock has a market capitalization of $9.14 billion, a price-to-earnings ratio of 17.54, a P/E/G ratio of 1.49 and a beta of -0.08.

Companhia Paranaense de Energia – Copel (NYSE:ELPC) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.02. The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.17 billion. On average, equities analysts expect that Companhia Paranaense de Energia – Copel will post 0.82 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Abreu Marco Antonio Villela De sold 32,490 shares of the business’s stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $2.94, for a total value of $95,520.60. Following the completion of the transaction, the director owned 63,546 shares in the company, valued at $186,825.24. The trade was a 33.83% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ELPC. Federation des caisses Desjardins du Quebec lifted its stake in shares of Companhia Paranaense de Energia – Copel by 143.5% during the fourth 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. Arax Advisory Partners bought a new position in Companhia Paranaense de Energia – Copel in the fourth quarter valued at about $45,000. Atlas Capital Advisors Inc. acquired a new stake in Companhia Paranaense de Energia – Copel in the fourth quarter worth about $49,000. EverSource Wealth Advisors LLC increased its position in Companhia Paranaense de Energia – Copel by 222.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 5,994 shares of the company’s stock worth $57,000 after purchasing an additional 4,134 shares during the period. Finally, Parallel Advisors LLC raised its holdings in Companhia Paranaense de Energia – Copel by 491.2% during the 4th quarter. Parallel Advisors LLC now owns 6,237 shares of the company’s stock worth $59,000 after purchasing an additional 5,182 shares during the last quarter.

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.