Companhia Paranaense de Energia – Copel (NYSE:ELPC) Stock Moved Up to “Strong-Buy” by Zacks Research

Zacks Research upgraded shares of Companhia Paranaense de Energia – Copel (NYSE:ELPC) from a hold rating to a strong-buy rating in a report issued on Wednesday,Zacks reports.

A number of other research analysts have also recently weighed in on the stock. Wall Street Zen cut shares of Companhia Paranaense de Energia – Copel from a “buy” rating to a “hold” rating in a report on Sunday, September 13th. Weiss Ratings reiterated a “hold (c)” rating on shares of Companhia Paranaense de Energia – Copel in a research report on Thursday, October 15th. Two investment analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $10.40.

Companhia Paranaense de Energia – Copel Price Performance

Shares of NYSE ELPC opened at $10.78 on Wednesday. The stock has a market capitalization of $8.02 billion, a price-to-earnings ratio of 15.39, a PEG ratio of 1.32 and a beta of -0.11. The firm’s 50 day simple moving average is $12.56 and its 200-day simple moving average is $11.77. Companhia Paranaense de Energia – Copel has a 12 month low of $8.86 and a 12 month high of $14.51.

Companhia Paranaense de Energia – Copel (NYSE:ELPC) last posted its earnings results on Wednesday, August 5th. The company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.02. The firm had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.17 billion. Analysts anticipate that Companhia Paranaense de Energia – Copel will post 0.82 earnings per share for the current fiscal year.

Companhia Paranaense de Energia – Copel Dividend Announcement

The business also recently announced a special dividend, which was paid on Tuesday, October 13th. Stockholders of record on Friday, May 1st were given a $0.1904 dividend. The ex-dividend date was Friday, May 1st. Companhia Paranaense de Energia – Copel’s dividend payout ratio (DPR) is 85.71%.

Insider Activity at Companhia Paranaense de Energia – Copel

In other news, Director Pedro Sales sold 50,000 shares of the business’s stock in a transaction dated Monday, October 19th. The shares were sold at an average price of $3.48, for a total transaction of $174,000.00. Following the completion of the sale, the director owned 24,844 shares of the company’s stock, valued at $86,457.12. The trade was a 66.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Principal Financial Group Inc. purchased a new position in shares of Companhia Paranaense de Energia – Copel in the first quarter valued at approximately $540,000. Quantinno Capital Management LP boosted its stake in shares of Companhia Paranaense de Energia – Copel by 27.1% in the first quarter. Quantinno Capital Management LP now owns 394,375 shares of the company’s stock worth $4,709,000 after acquiring an additional 84,121 shares during the last quarter. Hsbc Holdings PLC increased its position in shares of Companhia Paranaense de Energia – Copel by 42.1% during the first 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 in the last quarter. Sei Investments Co. increased its position in shares of Companhia Paranaense de Energia – Copel by 8.8% during the first 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, QRG Capital Management Inc. purchased a new stake in shares of Companhia Paranaense de Energia – Copel during the first quarter worth approximately $157,000.

Companhia Paranaense de Energia – Copel Company Profile

Companhia Paranaense de Energia, known as Copel, is a Brazilian energy and telecommunications company headquartered in the state of Paraná. Founded in 1954, the company operates primarily in Brazil and has historically played a central role in the development of Paraná’s electricity infrastructure.

Copel’s principal activities include the generation, transmission and distribution of electricity. Its generation portfolio includes hydroelectric and wind power assets, while its transmission and distribution businesses deliver electricity to customers across Paraná.