Wall Street Zen Downgrades Companhia Paranaense de Energia - Copel (NYSE:ELPC) to Hold

Key Points

• Wall Street Zen downgraded Copel from “Buy” to “Hold,” while Weiss Ratings reaffirmed a “Hold (C)” rating. Analysts collectively maintain a “Moderate Buy” consensus with a $10.40 target price.
• Copel shares opened at $11.73, near their 50-day and 200-day moving averages, with a market capitalization of $8.73 billion and a 52-week range of $7.80 to $13.70.
• The company reported quarterly EPS of $0.16, missing the $0.19 consensus estimate, though revenue of $1.33 billion exceeded expectations of $1.13 billion. Analysts expect full-year EPS of approximately $0.70.

Companhia Paranaense de Energia - Copel (NYSE:ELPC - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Saturday.

Separately, Weiss Ratings restated a "hold (c)" rating on shares of Companhia Paranaense de Energia - Copel in a report on Friday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $10.40.

Companhia Paranaense de Energia - Copel Price Performance

Shares of NYSE ELPC opened at $11.73 on Friday. The company has a market cap of $8.73 billion, a price-to-earnings ratio of 20.59, a price-to-earnings-growth ratio of 1.05 and a beta of -0.07. The stock's 50-day moving average is $11.58 and its two-hundred day moving average is $11.53. Companhia Paranaense de Energia - Copel has a 1-year low of $7.80 and a 1-year high of $13.70.

Companhia Paranaense de Energia - Copel (NYSE:ELPC - Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The company reported $0.16 EPS for the quarter, missing analysts' consensus estimates of $0.19 by ($0.03). The firm had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.13 billion. Equities research analysts anticipate that Companhia Paranaense de Energia - Copel will post 0.7 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Abreu Marco Antonio Villela De sold 32,490 shares of the business's stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $2.94, for a total transaction of $95,520.60. Following the completion of the sale, the director owned 63,546 shares in the company, valued at approximately $186,825.24. The trade was a 33.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Federation des caisses Desjardins du Quebec lifted its position in Companhia Paranaense de Energia - Copel by 143.5% in the fourth quarter. Federation des caisses Desjardins du Quebec now owns 2,800 shares of the company's stock valued at $27,000 after acquiring an additional 1,650 shares during the last quarter. Arax Advisory Partners purchased a new position in shares of Companhia Paranaense de Energia - Copel during the fourth quarter worth about $45,000. Farther Finance Advisors LLC grew its holdings in shares of Companhia Paranaense de Energia - Copel by 8,715.5% during the fourth quarter. Farther Finance Advisors LLC now owns 5,113 shares of the company's stock worth $49,000 after purchasing an additional 5,055 shares during the last quarter. Atlas Capital Advisors Inc. acquired a new stake in shares of Companhia Paranaense de Energia - Copel during the fourth quarter worth about $49,000. Finally, EverSource Wealth Advisors LLC increased its position 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 purchasing an additional 4,134 shares in the last quarter.

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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