Companhia Paranaense de Energia - Copel (NYSE:ELPC) Stock Rating Upgraded by Wall Street Zen

Key Points

• Wall Street Zen upgraded Companhia Paranaense de Energia - Copel from a "buy" to a "strong-buy," joining Scotiabank's "strong-buy" and Goldman Sachs' recent "buy" initiation; the stock's consensus rating is a Moderate Buy with an average price target of $10.40.
• Copel reported quarterly EPS of $0.11, beating the $0.08 estimate, while revenue was $1.25 billion compared with analyst estimates of $4.52 billion.
• Shares opened at $12.37 with a market cap of $9.20 billion, a P/E of 22.48, and a 52-week range of $6.13 to $12.51.

Companhia Paranaense de Energia - Copel (NYSE:ELPC - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a report issued on Sunday.

ELPC has been the subject of a number of other reports. Scotiabank raised shares of Companhia Paranaense de Energia - Copel to a "strong-buy" rating in a research report on Friday, January 9th. 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 report on Wednesday, January 21st. Finally, The Goldman Sachs Group began coverage on Companhia Paranaense de Energia - Copel in a report on Wednesday, January 28th. They set a "buy" rating and a $10.40 price target for the company. One 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 stock. Based on data from MarketBeat.com, Companhia Paranaense de Energia - Copel currently has a consensus rating of "Moderate Buy" and an average price target of $10.40.

Companhia Paranaense de Energia - Copel Trading Down 0.1%

Companhia Paranaense de Energia - Copel stock opened at $12.37 on Friday. The stock has a 50 day moving average of $11.12 and a 200-day moving average of $10.02. The stock has a market cap of $9.20 billion, a P/E ratio of 22.48, a price-to-earnings-growth ratio of 3.91 and a beta of -0.11. Companhia Paranaense de Energia - Copel has a 52 week low of $6.13 and a 52 week high of $12.51.

Companhia Paranaense de Energia - Copel (NYSE:ELPC - Get Free Report) last posted 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 business had revenue of $1.25 billion for the quarter, compared to analyst estimates of $4.52 billion.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the stock. Hennion & Walsh Asset Management Inc. acquired a new position in Companhia Paranaense de Energia - Copel during the fourth quarter valued at approximately $921,000. Banco BTG Pactual S.A. bought a new stake in shares of Companhia Paranaense de Energia - Copel during the 4th quarter worth $588,000. Greenspring Advisors LLC bought a new stake in shares of Companhia Paranaense de Energia - Copel during the 4th quarter worth $128,000. Global Retirement Partners LLC acquired a new stake in shares of Companhia Paranaense de Energia - Copel in the fourth quarter valued at about $75,000. Finally, Allworth Financial LP increased its stake in shares of Companhia Paranaense de Energia - Copel by 428.7% in the fourth quarter. Allworth Financial LP now owns 17,182 shares of the company's stock worth $163,000 after purchasing an additional 13,932 shares during the period.

About Companhia Paranaense de Energia - Copel

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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