Companhia Paranaense de Energia - Copel (NYSE:ELPC) Reaches New 1-Year High - Here's Why

Key Points

• Shares of Companhia Paranaense de Energia (NYSE: ELPC) reached a new 52-week high of $11.85 on Tuesday, last trading at $11.6260 on a volume of 143,427, with 50‑ and 200‑day SMAs at $10.28 and $9.60 respectively.
• Analyst activity has been bullish recently—Wall Street Zen and Scotiabank upgraded to Strong Buy, Goldman Sachs initiated coverage with a Buy and $10.40 target—leaving a MarketBeat consensus of Moderate Buy and an average price target of $10.40.
• Copel reported quarterly EPS of $0.11 (beating the $0.08 estimate) and announced a special dividend of $0.3299 per share (ex-dividend Jan 5, payable Jul 10), while its dividend payout ratio is notably elevated at 125.45%.

Companhia Paranaense de Energia - Copel Unsponsored ADR (NYSE:ELPC - Get Free Report) shares reached a new 52-week high on Tuesday . The company traded as high as $11.85 and last traded at $11.6260, with a volume of 143427 shares changing hands. The stock had previously closed at $11.30.

Analysts Set New Price Targets

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

Companhia Paranaense de Energia - Copel Price Performance

The company's fifty day simple moving average is $10.28 and its 200-day simple moving average is $9.60. The firm has a market capitalization of $8.63 billion, a PE ratio of 21.09, a P/E/G ratio of 2.90 and a beta of -0.11.

Companhia Paranaense de Energia - Copel (NYSE:ELPC - Get Free Report) last released its earnings results on Friday, February 27th. The company reported $0.11 EPS for the quarter, topping analysts' consensus estimates of $0.08 by $0.03. The company had revenue of $1.30 billion for the quarter, compared to analysts' expectations of $4.52 billion.

Companhia Paranaense de Energia - Copel Dividend Announcement

The company also recently announced a special dividend, which will be paid on Friday, July 10th. Shareholders of record on Monday, January 5th will be issued a dividend of $0.3299 per share. The ex-dividend date of this dividend is Monday, January 5th. Companhia Paranaense de Energia - Copel's dividend payout ratio is presently 125.45%.

Institutional Trading of Companhia Paranaense de Energia - Copel

Institutional investors have recently made changes to their positions in the company. Letko Brosseau & Associates Inc. raised its stake in Companhia Paranaense de Energia - Copel by 10,965.8% in the 4th quarter. Letko Brosseau & Associates Inc. now owns 7,276,402 shares of the company's stock valued at $69,199,000 after purchasing an additional 7,210,646 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Companhia Paranaense de Energia - Copel by 575.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,078,808 shares of the company's stock worth $10,259,000 after purchasing an additional 919,086 shares during the last quarter. SPX Gestao de Recursos Ltda grew its holdings in shares of Companhia Paranaense de Energia - Copel by 1,194.4% during the fourth quarter. SPX Gestao de Recursos Ltda now owns 918,127 shares of the company's stock worth $8,731,000 after buying an additional 847,198 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its holdings in shares of Companhia Paranaense de Energia - Copel by 288.1% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 653,418 shares of the company's stock worth $6,214,000 after buying an additional 485,063 shares in the last quarter. Finally, Itau Unibanco Holding S.A. acquired a new stake in shares of Companhia Paranaense de Energia - Copel in the fourth quarter valued at about $3,935,000.

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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