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

Key Points

• Wall Street Zen downgraded Copel from “buy” to “hold,” while the broader analyst consensus remains “Moderate Buy” with an average price target of $10.40.
• Copel reported quarterly EPS of $0.16, exceeding the $0.14 consensus estimate, while revenue of $1.18 billion was slightly above expectations.
• ELPC shares opened at $12.47, near the upper end of their 52-week range of $8.26 to $13.70; a company director also sold 32,490 shares, reducing his ownership by 33.83%.

Companhia Paranaense de Energia - Copel (NYSE:ELPC - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued on Sunday, Wall Street Zen reports.

Separately, Weiss Ratings reiterated a "hold (c)" rating on shares of Companhia Paranaense de Energia - Copel in a research note on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $10.40.

Companhia Paranaense de Energia - Copel Stock Performance

Shares of NYSE:ELPC opened at $12.47 on Friday. The firm has a market cap of $9.28 billion, a price-to-earnings ratio of 17.82, a P/E/G ratio of 1.51 and a beta of -0.08. The firm has a fifty day moving average price of $11.56 and a 200 day moving average price of $11.80. Companhia Paranaense de Energia - Copel has a fifty-two week low of $8.26 and a fifty-two week high of $13.70.

Companhia Paranaense de Energia - Copel (NYSE:ELPC - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.14 by $0.02. The company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.17 billion. As a group, research analysts predict that Companhia Paranaense de Energia - Copel will post 0.82 earnings per share for the current year.

Insider Activity

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

Institutional Investors Weigh In On Companhia Paranaense de Energia - Copel

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ELPC. Letko Brosseau & Associates Inc. grew its position in shares of Companhia Paranaense de Energia - Copel by 10,965.8% during the 4th quarter. Letko Brosseau & Associates Inc. now owns 7,276,402 shares of the company's stock valued at $69,199,000 after acquiring an additional 7,210,646 shares during the period. Hantz Financial Services Inc. acquired a new position in Companhia Paranaense de Energia - Copel in the 4th quarter worth about $454,000. Banco BTG Pactual S.A. purchased a new position in Companhia Paranaense de Energia - Copel during the fourth quarter worth approximately $588,000. Principal Financial Group Inc. purchased a new position in Companhia Paranaense de Energia - Copel during the first quarter worth approximately $540,000. Finally, Hsbc Holdings PLC acquired a new stake in Companhia Paranaense de Energia - Copel in the fourth quarter valued at approximately $1,730,000.

Companhia Paranaense de Energia - Copel Company Profile

Companhia Paranaense de Energia, known as Copel, is a Brazilian electric utility headquartered in Curitiba, in the state of Paraná. Founded in 1954, the company operates across several segments of the power industry, including electricity generation, transmission and distribution.

Copel's generation portfolio includes hydroelectric, wind and thermal power assets, while its transmission business supports the movement of electricity through Brazil's interconnected power system. The company's distribution operations deliver electricity to residential, commercial and industrial customers throughout Paraná.

In addition to its core electricity businesses, Copel has historically provided telecommunications and related infrastructure services.

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