Companhia Paranaense de Energia (COPEL) (NYSE:ELP) Reaches New 52-Week High - Should You Buy?

Key Points

• Companhia Paranaense de Energia (COPEL) shares reached a new 52-week high of $9.66, closing at $9.63 with a trading volume of 163,140 shares.
• The company's recent earnings report showed an EPS of $0.02, significantly below the consensus estimate of $0.11, with revenue at $1.14 billion compared to expectations of $4.72 billion.
• Institutional investors have shown interest in COPEL, with several firms increasing their stakes, indicating a potential shift in market sentiment toward the company.

Companhia Paranaense de Energia (COPEL) (NYSE:ELP - Get Free Report) shares reached a new 52-week high on Wednesday . The company traded as high as $9.66 and last traded at $9.63, with a volume of 163140 shares. The stock had previously closed at $9.55.

Companhia Paranaense de Energia (COPEL) Price Performance

The stock has a market capitalization of $5.81 billion, a price-to-earnings ratio of 57.35 and a beta of 0.83. The company has a quick ratio of 1.12, a current ratio of 1.13 and a debt-to-equity ratio of 0.63. The business has a 50-day simple moving average of $8.92 and a two-hundred day simple moving average of $8.44.

Companhia Paranaense de Energia (COPEL) (NYSE:ELP - Get Free Report) last released its earnings results on Wednesday, August 6th. The utilities provider reported $0.02 earnings per share for the quarter, missing analysts' consensus estimates of $0.11 by ($0.09). Companhia Paranaense de Energia (COPEL) had a return on equity of 11.15% and a net margin of 12.77%.The firm had revenue of $1.14 billion during the quarter, compared to analyst estimates of $4.72 billion. As a group, research analysts predict that Companhia Paranaense de Energia will post 0.12 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Companhia Paranaense de Energia (COPEL)

A number of institutional investors and hedge funds have recently modified their holdings of ELP. Bank of America Corp DE lifted its position in shares of Companhia Paranaense de Energia (COPEL) by 97.7% during the 2nd quarter. Bank of America Corp DE now owns 544,714 shares of the utilities provider's stock valued at $4,973,000 after acquiring an additional 269,120 shares during the last quarter. Letko Brosseau & Associates Inc. lifted its position in shares of Companhia Paranaense de Energia (COPEL) by 2.9% during the 1st quarter. Letko Brosseau & Associates Inc. now owns 6,714,721 shares of the utilities provider's stock valued at $49,085,000 after acquiring an additional 190,026 shares during the last quarter. Two Sigma Investments LP lifted its position in shares of Companhia Paranaense de Energia (COPEL) by 176.6% during the 4th quarter. Two Sigma Investments LP now owns 288,065 shares of the utilities provider's stock valued at $1,708,000 after acquiring an additional 183,936 shares during the last quarter. Marshall Wace LLP acquired a new stake in shares of Companhia Paranaense de Energia (COPEL) during the 2nd quarter valued at $1,228,000. Finally, Millennium Management LLC lifted its position in shares of Companhia Paranaense de Energia (COPEL) by 59.9% during the 4th quarter. Millennium Management LLC now owns 297,678 shares of the utilities provider's stock valued at $1,765,000 after acquiring an additional 111,570 shares during the last quarter. Institutional investors and hedge funds own 3.80% of the company's stock.

About Companhia Paranaense de Energia (COPEL)

Companhia Paranaense de Energia - COPEL engages in the generation, transformation, distribution, and sale of electricity to industrial, residential, commercial, rural, and other customers in Brazil. The company operates through Power Generation and Transmission, Power Distribution, Power Sale, and Gas segments.