Companhia Paranaense de Energia (COPEL) (NYSE:ELP) Hits New 1-Year High - Time to Buy?

Key Points

• Companhia Paranaense de Energia (COPEL) reached a new 52-week high at $9.87, with the last trading price at $9.72 on Tuesday.
• The company's latest earnings report showed earnings per share of $0.02, missing estimates by $0.09, with a revenue of $1.14 billion compared to a consensus estimate of $4.72 billion.
• Institutional investors are actively acquiring shares, with Bank of America increasing its stake by 97.7% during the second quarter, reflecting growing confidence in the stock.

Companhia Paranaense de Energia (COPEL) (NYSE:ELP - Get Free Report) reached a new 52-week high on Tuesday . The stock traded as high as $9.87 and last traded at $9.72, with a volume of 100 shares trading hands. The stock had previously closed at $9.69.

Companhia Paranaense de Energia (COPEL) Trading Up 0.7%

The company has a fifty day simple moving average of $8.94 and a two-hundred day simple moving average of $8.47. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.13 and a quick ratio of 1.12. The company has a market capitalization of $5.81 billion, a P/E ratio of 57.34 and a beta of 0.83.

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

Hedge Funds Weigh In On Companhia Paranaense de Energia (COPEL)

Several institutional investors have recently bought and sold shares of the stock. Letko Brosseau & Associates Inc. increased its stake in shares of Companhia Paranaense de Energia (COPEL) by 2.9% in the first quarter. Letko Brosseau & Associates Inc. now owns 6,714,721 shares of the utilities provider's stock worth $49,085,000 after purchasing an additional 190,026 shares during the period. Bank of America Corp DE increased its stake in shares of Companhia Paranaense de Energia (COPEL) by 97.7% in the second quarter. Bank of America Corp DE now owns 544,714 shares of the utilities provider's stock worth $4,973,000 after purchasing an additional 269,120 shares during the period. Millennium Management LLC increased its stake in shares of Companhia Paranaense de Energia (COPEL) by 59.9% in the fourth quarter. Millennium Management LLC now owns 297,678 shares of the utilities provider's stock worth $1,765,000 after purchasing an additional 111,570 shares during the period. Two Sigma Investments LP increased its stake in shares of Companhia Paranaense de Energia (COPEL) by 176.6% in the fourth quarter. Two Sigma Investments LP now owns 288,065 shares of the utilities provider's stock worth $1,708,000 after purchasing an additional 183,936 shares during the period. Finally, Two Sigma Advisers LP increased its stake in shares of Companhia Paranaense de Energia (COPEL) by 71.3% in the fourth quarter. Two Sigma Advisers LP now owns 257,020 shares of the utilities provider's stock worth $1,524,000 after purchasing an additional 107,000 shares during the period. 3.80% of the stock is currently owned by institutional investors.

Companhia Paranaense de Energia (COPEL) Company Profile

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.

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