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

Key Points

• Companhia Paranaense de Energia (COPEL) recently reached a new 52-week high, trading at $9.33, up 3.5% from its previous close of $8.99.
• The company's earnings report revealed a miss on EPS expectations, reporting $0.02 against an estimated $0.11, with a significant revenue shortfall.
• Institutional investors have shown increasing interest, with JPMorgan Chase & Co. boosting its holdings by over 4,000% in the second quarter.

Companhia Paranaense de Energia (COPEL) (NYSE:ELP - Get Free Report) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $9.33 and last traded at $9.31, with a volume of 162048 shares. The stock had previously closed at $8.99.

Companhia Paranaense de Energia (COPEL) Stock Up 3.5%

The company has a quick ratio of 1.47, a current ratio of 1.13 and a debt-to-equity ratio of 0.63. The company's fifty day moving average is $8.83 and its 200-day moving average is $8.00. The company has a market cap of $5.54 billion, a PE ratio of 54.74, a PEG ratio of 7.29 and a beta of 0.75.

Companhia Paranaense de Energia (COPEL) (NYSE:ELP - Get Free Report) last issued its earnings results on Wednesday, August 6th. The utilities provider reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $1.14 billion during the quarter, compared to analysts' expectations of $4.72 billion. On average, analysts predict that Companhia Paranaense de Energia will post 0.12 EPS for the current year.

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

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. boosted its holdings in Companhia Paranaense de Energia (COPEL) by 4,094.6% in the second quarter. JPMorgan Chase & Co. now owns 10,151 shares of the utilities provider's stock worth $93,000 after purchasing an additional 9,909 shares during the last quarter. Creative Planning raised its position in Companhia Paranaense de Energia (COPEL) by 18.4% in the second quarter. Creative Planning now owns 121,104 shares of the utilities provider's stock worth $1,106,000 after acquiring an additional 18,844 shares during the period. PNC Financial Services Group Inc. raised its position in Companhia Paranaense de Energia (COPEL) by 16.1% in the second quarter. PNC Financial Services Group Inc. now owns 18,923 shares of the utilities provider's stock worth $173,000 after acquiring an additional 2,621 shares during the period. Allworth Financial LP raised its position in Companhia Paranaense de Energia (COPEL) by 6,683.1% in the second quarter. Allworth Financial LP now owns 13,227 shares of the utilities provider's stock worth $121,000 after acquiring an additional 13,032 shares during the period. Finally, Hantz Financial Services Inc. raised its position in Companhia Paranaense de Energia (COPEL) by 876.7% in the second quarter. Hantz Financial Services Inc. now owns 11,730 shares of the utilities provider's stock worth $107,000 after acquiring an additional 10,529 shares during the period. Hedge funds and other institutional investors own 3.80% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.