Companhia Paranaense de Energia - Copel (NYSE:ELPC) Sets New 52-Week High - Time to Buy?

Key Points

• Companhia Paranaense de Energia (ELPC) hit a new 52-week high of $13.65 on Monday (last $13.5550) on elevated volume, signaling bullish momentum.
• Analysts are mixed—one Strong Buy, one Buy and two Holds—with a MarketBeat consensus rating of “Moderate Buy” but a consensus price target of $10.40, which is below the current share price.
• The company beat quarterly EPS estimates ($0.11 vs. $0.08) but reported revenue of $1.25B versus an analyst estimate of $4.52B, and declared a special dividend of $0.1904 (ex-dividend May 1) while showing a high payout ratio (125.45%).

Companhia Paranaense de Energia - Copel Unsponsored ADR (NYSE:ELPC - Get Free Report) hit a new 52-week high during trading on Monday . The stock traded as high as $13.65 and last traded at $13.5550, with a volume of 208435 shares trading hands. The stock had previously closed at $13.33.

Analysts Set New Price Targets

ELPC has been the subject of several analyst reports. Zacks Research upgraded shares of Companhia Paranaense de Energia - Copel to a "hold" rating in a research note on Friday, January 30th. Weiss Ratings reiterated a "hold (c)" rating on shares of Companhia Paranaense de Energia - Copel in a research note on Wednesday, January 21st. Scotiabank upgraded shares of Companhia Paranaense de Energia - Copel to a "strong-buy" rating in a research note on Friday, January 9th. The Goldman Sachs Group initiated coverage on shares of Companhia Paranaense de Energia - Copel in a research note on Wednesday, January 28th. They issued a "buy" rating and a $10.40 target price for the company. Finally, Wall Street Zen upgraded shares of Companhia Paranaense de Energia - Copel from a "buy" rating to a "strong-buy" rating in a research note on Sunday, April 5th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $10.40.

Companhia Paranaense de Energia - Copel Stock Performance

The firm's 50 day moving average is $11.69 and its 200-day moving average is $10.32. The stock has a market capitalization of $10.10 billion, a price-to-earnings ratio of 24.66, a PEG ratio of 4.21 and a beta of -0.11.

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

Companhia Paranaense de Energia - Copel Announces Dividend

The business also recently declared a special dividend, which will be paid on Tuesday, October 13th. Investors of record on Friday, May 1st will be issued a $0.1904 dividend. The ex-dividend date of this dividend is Friday, May 1st. Companhia Paranaense de Energia - Copel's payout ratio is presently 125.45%.

Insider Buying and Selling

In related news, Director Pedro Franco Sales sold 153,700 shares of the business's stock in a transaction on Wednesday, April 8th. The shares were sold at an average price of $3.19, for a total value of $490,303.00. Following the completion of the sale, the director owned 74,844 shares of the company's stock, valued at approximately $238,752.36. The trade was a 67.25% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Institutional Investors Weigh In On Companhia Paranaense de Energia - Copel

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Federation des caisses Desjardins du Quebec increased its holdings in Companhia Paranaense de Energia - Copel by 143.5% in the 4th quarter. Federation des caisses Desjardins du Quebec now owns 2,800 shares of the company's stock worth $27,000 after acquiring an additional 1,650 shares in the last quarter. Arax Advisory Partners purchased a new stake in Companhia Paranaense de Energia - Copel in the 4th quarter worth $45,000. Farther Finance Advisors LLC increased its holdings in Companhia Paranaense de Energia - Copel by 8,715.5% in the 4th quarter. Farther Finance Advisors LLC now owns 5,113 shares of the company's stock worth $49,000 after acquiring an additional 5,055 shares in the last quarter. Atlas Capital Advisors Inc. purchased a new stake in Companhia Paranaense de Energia - Copel in the 4th quarter worth $49,000. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Companhia Paranaense de Energia - Copel by 222.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 5,994 shares of the company's stock worth $57,000 after buying an additional 4,134 shares in the last quarter.

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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