Companhia Paranaense de Energia – Copel (NYSE:ELPC) Hits New 12-Month High – Here’s Why

Shares of Companhia Paranaense de Energia – Copel Unsponsored ADR (NYSE:ELPC) hit a new 52-week high during trading on Tuesday . The stock traded as high as $11.32 and last traded at $11.1770, with a volume of 118654 shares traded. The stock had previously closed at $11.26.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on ELPC shares. The Goldman Sachs Group initiated coverage on shares of Companhia Paranaense de Energia – Copel in a research note on Wednesday, January 28th. They set a “buy” rating and a $10.40 price objective for the company. Wall Street Zen raised Companhia Paranaense de Energia – Copel to a “hold” rating in a research report on Saturday, February 7th. Zacks Research upgraded Companhia Paranaense de Energia – Copel to a “hold” rating in a research note on Friday, January 30th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Companhia Paranaense de Energia – Copel in a research note on Wednesday, January 21st. Finally, Scotiabank raised shares of Companhia Paranaense de Energia – Copel to a “strong-buy” rating in a research report on Friday, January 9th. One research 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. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $10.40.

Companhia Paranaense de Energia – Copel Stock Down 0.7%

The stock has a 50 day simple moving average of $9.85 and a 200 day simple moving average of $9.38. The company has a market cap of $8.32 billion, a price-to-earnings ratio of 21.92, a PEG ratio of 2.95 and a beta of 0.02.

Companhia Paranaense de Energia – Copel (NYSE:ELPC) last announced its earnings results on Wednesday, December 3rd. The company reported $0.10 EPS for the quarter. The company had revenue of $1.28 billion for the quarter.

Companhia Paranaense de Energia – Copel Dividend Announcement

The company also recently disclosed a special dividend, which will be paid on Friday, July 10th. Stockholders of record on Monday, January 5th will be paid a dividend of $0.3299 per share. The ex-dividend date is Monday, January 5th. Companhia Paranaense de Energia – Copel’s dividend payout ratio (DPR) is currently 135.29%.

Institutional Investors Weigh In On Companhia Paranaense de Energia – Copel

A number of large investors have recently added to or reduced their stakes in ELPC. Compound Planning Inc. purchased a new stake in Companhia Paranaense de Energia – Copel during the 4th quarter worth $114,000. Invesco Ltd. acquired a new stake in shares of Companhia Paranaense de Energia – Copel during the fourth quarter valued at about $370,000. Mercer Global Advisors Inc. ADV purchased a new stake in shares of Companhia Paranaense de Energia – Copel during the fourth quarter worth about $190,000. Vident Advisory LLC acquired a new position in shares of Companhia Paranaense de Energia – Copel in the fourth quarter worth about $1,089,000. Finally, Summit Securities Group LLC purchased a new position in Companhia Paranaense de Energia – Copel in the fourth quarter valued at about $71,000.

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.