Companhia Paranaense de Energia - Copel (NYSE:ELPC) Hits New 1-Year High - Should You Buy?

Key Points

• Companhia Paranaense de Energia (ELPC) hit a new 52‑week high, trading as high as $12.51 and last at $12.5310 on volume of 333,363 shares.
• Analysts have recently upgraded ELPC (including Scotiabank and Wall Street Zen); MarketBeat shows a consensus of “Moderate Buy” with a consensus target price of $10.40, which is below the current share price.
• Most recent quarterly results showed an EPS beat of $0.11 vs. $0.08 expected, while reported revenue was $1.25 billion compared with analyst estimates of $4.52 billion.

Companhia Paranaense de Energia - Copel Unsponsored ADR (NYSE:ELPC - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $12.51 and last traded at $12.5310, with a volume of 333363 shares trading hands. The stock had previously closed at $12.38.

Wall Street Analyst Weigh In

ELPC has been the topic of a number of recent research reports. Wall Street Zen raised shares of Companhia Paranaense de Energia - Copel from a "buy" rating to a "strong-buy" rating in a research report on Sunday. Scotiabank upgraded shares of Companhia Paranaense de Energia - Copel to a "strong-buy" rating in a research report on Friday, January 9th. Zacks Research raised shares of Companhia Paranaense de Energia - Copel to a "hold" rating in a report on Friday, January 30th. Weiss Ratings reiterated a "hold (c)" rating on shares of Companhia Paranaense de Energia - Copel in a research report on Wednesday, January 21st. Finally, The Goldman Sachs Group initiated coverage on Companhia Paranaense de Energia - Copel in a research note on Wednesday, January 28th. They issued a "buy" rating and a $10.40 price target for the company. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Companhia Paranaense de Energia - Copel currently has a consensus rating of "Moderate Buy" and a consensus target price of $10.40.

Companhia Paranaense de Energia - Copel Stock Performance

The company has a fifty day simple moving average of $11.12 and a 200 day simple moving average of $10.03. The stock has a market capitalization of $9.34 billion, a price-to-earnings ratio of 22.63, a P/E/G ratio of 3.91 and a beta of -0.11.

Companhia Paranaense de Energia - Copel (NYSE:ELPC - Get Free Report) last issued its quarterly earnings results on Thursday, February 26th. The company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.03. The company had revenue of $1.25 billion during the quarter, compared to analyst estimates of $4.52 billion.

Institutional Investors Weigh In On Companhia Paranaense de Energia - Copel

A number of institutional investors have recently modified their holdings of ELPC. Hennion & Walsh Asset Management Inc. acquired a new position in Companhia Paranaense de Energia - Copel in the fourth quarter valued at $921,000. Blue Trust Inc. grew its holdings in Companhia Paranaense de Energia - Copel by 2,635.1% during the 4th quarter. Blue Trust Inc. now owns 48,055 shares of the company's stock worth $457,000 after acquiring an additional 46,298 shares during the period. Allworth Financial LP raised its position in shares of Companhia Paranaense de Energia - Copel by 428.7% in the 4th quarter. Allworth Financial LP now owns 17,182 shares of the company's stock worth $163,000 after acquiring an additional 13,932 shares in the last quarter. Banque Cantonale Vaudoise acquired a new position in shares of Companhia Paranaense de Energia - Copel in the 4th quarter valued at about $162,000. Finally, Abacus Wealth Partners LLC acquired a new position in shares of Companhia Paranaense de Energia - Copel in the 4th quarter valued at about $286,000.

Companhia Paranaense de Energia - Copel Company Profile

Companhia Paranaense de Energia – Copel is a Brazilian utility company primarily engaged in the generation, transmission and distribution of electricity. Established in 1954, Copel operates a diversified portfolio of power plants, with a strong emphasis on hydroelectric facilities supplemented by thermal and renewable energy sources. The company's integrated network spans the entirety of Paraná state, delivering electricity services to residential, commercial and industrial customers through a combination of high-voltage transmission lines and local distribution networks.

In addition to its core power business, Copel has expanded into telecommunications through its Copel Telecom subsidiary.

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