Companhia Paranaense de Energia (COPEL) (NYSE:ELP) Reaches New 12-Month High - Still a Buy?

Key Points

• Companhia Paranaense de Energia (COPEL) shares have reached a new 52-week high of $9.90, indicating strong price performance with significant trading volume.
• Wall Street analyst ratings for COPEL remain cautious, with a consensus rating of "Hold" and Weiss Ratings reaffirming this stance.
• The company reported earnings per share of $0.02 for the last quarter, missing analysts' expectations, and had a revenue of $1.14 billion, falling short of the anticipated $4.72 billion.

Companhia Paranaense de Energia (COPEL) (NYSE:ELP - Get Free Report) shares reached a new 52-week high on Monday . The stock traded as high as $9.90 and last traded at $9.89, with a volume of 130807 shares changing hands. The stock had previously closed at $9.65.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a "hold (c)" rating on shares of Companhia Paranaense de Energia (COPEL) in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has a consensus rating of "Hold".

Companhia Paranaense de Energia (COPEL) Price Performance

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 stock has a market cap of $5.89 billion, a P/E ratio of 58.18, a price-to-earnings-growth ratio of 3.92 and a beta of 0.83. The business's 50-day simple moving average is $9.26 and its two-hundred day simple moving average is $8.76.

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 for the quarter, missing analysts' consensus estimates of $0.11 by ($0.09). The business had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $4.72 billion. Companhia Paranaense de Energia (COPEL) had a return on equity of 11.15% and a net margin of 12.77%. Sell-side analysts expect that Companhia Paranaense de Energia will post 0.12 EPS for the current 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 the company. Letko Brosseau & Associates Inc. lifted its holdings 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 buying an additional 190,026 shares in the last quarter. Bank of America Corp DE lifted its holdings 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 buying an additional 269,120 shares in the last quarter. Marshall Wace LLP purchased a new stake in shares of Companhia Paranaense de Energia (COPEL) in the second quarter worth about $1,228,000. Creative Planning lifted its holdings in shares of 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 buying an additional 18,844 shares in the last quarter. Finally, Quantinno Capital Management LP lifted its holdings in shares of Companhia Paranaense de Energia (COPEL) by 53.7% in the second quarter. Quantinno Capital Management LP now owns 118,059 shares of the utilities provider's stock worth $1,078,000 after buying an additional 41,240 shares in the last quarter. 3.80% of the stock is owned by hedge funds and other 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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