Companhia Paranaense de Energia - Copel (NYSE:ELPC) Sets New 1-Year High - What's Next?

Key Points

• Copel shares reached a new 52-week high of $14.51, closing well above the prior $12.86 level, with 541,046 shares traded.
• Analysts have a consensus “Moderate Buy” rating, but the $10.40 average price target is below the current share price; ratings include one Strong Buy, one Buy and two Holds.
• Copel exceeded quarterly expectations with $0.16 in EPS versus $0.14 expected and $1.18 billion in revenue. The company also declared a $0.1904 special dividend, while institutional investors generally increased their holdings.

Companhia Paranaense de Energia - Copel Unsponsored ADR (NYSE:ELPC - Get Free Report)'s stock price reached a new 52-week high on Monday. The company traded as high as $14.51 and last traded at $14.3190, with a volume of 541046 shares changing hands. The stock had previously closed at $12.86.

Analyst Upgrades and Downgrades

Several research analysts recently commented on ELPC shares. Weiss Ratings reiterated a "hold (c)" rating on shares of Companhia Paranaense de Energia - Copel in a research note on Friday, July 17th. Wall Street Zen downgraded Companhia Paranaense de Energia - Copel from a "buy" rating to a "hold" rating in a report on Sunday, September 13th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $10.40.

Companhia Paranaense de Energia - Copel Stock Performance

The firm has a market cap of $10.49 billion, a P/E ratio of 20.12, a P/E/G ratio of 1.57 and a beta of -0.10. The firm has a fifty day moving average of $11.77 and a 200-day moving average of $11.92.

Companhia Paranaense de Energia - Copel (NYSE:ELPC - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.14 by $0.02. The firm had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.17 billion. Equities research analysts expect that Companhia Paranaense de Energia - Copel Unsponsored ADR will post 0.82 earnings per share for the current year.

Companhia Paranaense de Energia - Copel Announces Dividend

The firm also recently declared a special dividend, which will be paid on Tuesday, October 13th. Stockholders of record on Friday, May 1st will be paid a $0.1904 dividend. The ex-dividend date of this dividend is Friday, May 1st. Companhia Paranaense de Energia - Copel's dividend payout ratio is presently 85.71%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Letko Brosseau & Associates Inc. increased its position in shares of Companhia Paranaense de Energia - Copel by 10,965.8% during 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 period. Quantinno Capital Management LP lifted its stake in Companhia Paranaense de Energia - Copel by 27.1% during the first quarter. Quantinno Capital Management LP now owns 394,375 shares of the company's stock valued at $4,709,000 after buying an additional 84,121 shares in the last quarter. Hsbc Holdings PLC boosted its stake in Companhia Paranaense de Energia - Copel by 42.1% in the 1st quarter. Hsbc Holdings PLC now owns 258,536 shares of the company's stock worth $3,087,000 after purchasing an additional 76,653 shares during the period. Sei Investments Co. grew its position in Companhia Paranaense de Energia - Copel by 8.8% during the 1st quarter. Sei Investments Co. now owns 71,314 shares of the company's stock worth $852,000 after purchasing an additional 5,787 shares in the last quarter. Finally, Banco BTG Pactual S.A. purchased a new position in Companhia Paranaense de Energia - Copel during the 4th quarter worth approximately $588,000.

About Companhia Paranaense de Energia - Copel

Companhia Paranaense de Energia, known as Copel, is a Brazilian energy and infrastructure company headquartered in Curitiba, Paraná. Founded in 1954, the company operates primarily in the electricity sector and serves customers in the state of Paraná and other parts of Brazil through its portfolio of energy-related businesses.

Copel's main activities include the generation, transmission, distribution and sale of electricity. Its generation portfolio includes hydroelectric and wind power assets, while its transmission and distribution operations support the delivery of electricity to residential, commercial and industrial customers.

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