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

Companhia Paranaense de Energia – Copel (NYSE:ELPC) was downgraded by stock analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report released on Sunday, Wall Street Zen reports.

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Companhia Paranaense de Energia – Copel in a research report on Friday, July 17th. One equities research 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’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $10.40.

Companhia Paranaense de Energia – Copel Stock Performance

Shares of NYSE:ELPC opened at $12.38 on Friday. The business’s fifty day moving average price is $11.58 and its two-hundred day moving average price is $11.81. The stock has a market cap of $9.22 billion, a PE ratio of 17.69, a price-to-earnings-growth ratio of 1.51 and a beta of -0.08. Companhia Paranaense de Energia – Copel has a one year low of $8.26 and a one year high of $13.70.

Companhia Paranaense de Energia – Copel (NYSE:ELPC) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.02. The company had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.17 billion. As a group, equities research analysts predict that Companhia Paranaense de Energia – Copel will post 0.82 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Companhia Paranaense de Energia – Copel

A number of hedge funds have recently made changes to their positions in ELPC. BlueCrest Capital Management Ltd acquired a new stake in shares of Companhia Paranaense de Energia – Copel during the 2nd quarter worth $291,000. Engineers Gate Manager LP purchased a new stake in Companhia Paranaense de Energia – Copel during the second quarter valued at about $173,000. NewEdge Advisors LLC grew its position in Companhia Paranaense de Energia – Copel by 16,094.0% during the second quarter. NewEdge Advisors LLC now owns 40,323 shares of the company’s stock valued at $470,000 after acquiring an additional 40,074 shares during the period. Corient Private Wealth LP acquired a new stake in Companhia Paranaense de Energia – Copel during the second quarter worth about $120,000. Finally, Syon Capital LLC increased its stake in Companhia Paranaense de Energia – Copel by 6.0% during the second quarter. Syon Capital LLC now owns 21,549 shares of the company’s stock worth $251,000 after acquiring an additional 1,227 shares during the last quarter.

About Companhia Paranaense de Energia – Copel

Companhia Paranaense de Energia, known as Copel, is a Brazilian electric utility headquartered in Curitiba, in the state of Paraná. Founded in 1954, the company operates across several segments of the power industry, including electricity generation, transmission and distribution.

Copel’s generation portfolio includes hydroelectric, wind and thermal power assets, while its transmission business supports the movement of electricity through Brazil’s interconnected power system. The company’s distribution operations deliver electricity to residential, commercial and industrial customers throughout Paraná.

In addition to its core electricity businesses, Copel has historically provided telecommunications and related infrastructure services.