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

Key Points

• Companhia Paranaense de Energia (COPEL) reached a new 52-week high of $9.38 per share during mid-day trading, with the last trade recorded at $9.36.
• For the last quarter, COPEL reported $0.02 earnings per share, which was below analysts' expectations of $0.11, with revenues significantly lower than forecasted at $1.14 billion compared to an expected $4.72 billion.
• Institutional investors have shown increased interest in COPEL, with several firms boosting their stakes significantly during the second quarter, including PNC Financial Services which raised its position by 16.1%.

Companhia Paranaense de Energia (COPEL) (NYSE:ELP - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $9.38 and last traded at $9.36, with a volume of 21328 shares trading hands. The stock had previously closed at $9.22.

Companhia Paranaense de Energia (COPEL) Stock Up 0.8%

The stock has a 50 day moving average price of $8.84 and a 200-day moving average price of $8.36. The stock has a market capitalization of $5.73 billion, a P/E ratio of 56.65 and a beta of 0.83. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.13 and a quick ratio of 1.12.

Companhia Paranaense de Energia (COPEL) (NYSE:ELP - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The utilities provider reported $0.02 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.11 by ($0.09). The company 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 net margin of 12.77% and a return on equity of 11.15%. As a group, research analysts expect that Companhia Paranaense de Energia will post 0.12 EPS for the current fiscal year.

Institutional Trading of Companhia Paranaense de Energia (COPEL)

Institutional investors have recently modified their holdings of the company. EverSource Wealth Advisors LLC boosted its holdings in shares of Companhia Paranaense de Energia (COPEL) by 279.1% during the second quarter. EverSource Wealth Advisors LLC now owns 4,318 shares of the utilities provider's stock worth $39,000 after purchasing an additional 3,179 shares during the period. Banque Cantonale Vaudoise purchased a new stake in Companhia Paranaense de Energia (COPEL) in the first quarter worth about $35,000. Summit Securities Group LLC purchased a new stake in Companhia Paranaense de Energia (COPEL) in the first quarter worth about $45,000. Brooklyn Investment Group lifted its holdings in Companhia Paranaense de Energia (COPEL) by 315,600.0% in the first quarter. Brooklyn Investment Group now owns 6,314 shares of the utilities provider's stock worth $46,000 after buying an additional 6,312 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in Companhia Paranaense de Energia (COPEL) by 132.3% in the first quarter. GAMMA Investing LLC now owns 7,795 shares of the utilities provider's stock worth $57,000 after buying an additional 4,440 shares during the period. 3.80% of the stock is currently 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.