Companhia Paranaense de Energia – Copel (NYSE:ELPC) Hits New 1-Year High – What’s Next?

Companhia Paranaense de Energia – Copel Unsponsored ADR (NYSE:ELPC) shares reached a new 52-week high on Monday . The company traded as high as $13.41 and last traded at $13.4250, with a volume of 90756 shares traded. The stock had previously closed at $13.34.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ELPC. The Goldman Sachs Group began coverage on shares of Companhia Paranaense de Energia – Copel in a report on Wednesday, January 28th. They set a “buy” rating and a $10.40 target price on the stock. Wall Street Zen upgraded shares of Companhia Paranaense de Energia – Copel from a “buy” rating to a “strong-buy” rating in a research report on Sunday, April 5th. Scotiabank upgraded shares of Companhia Paranaense de Energia – Copel to a “strong-buy” rating in a research report on Friday, January 9th. Weiss Ratings reiterated a “hold (c)” rating on shares of Companhia Paranaense de Energia – Copel in a research report on Wednesday, January 21st. Finally, Zacks Research upgraded shares of Companhia Paranaense de Energia – Copel to a “hold” rating in a research report on Friday, January 30th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, Companhia Paranaense de Energia – Copel presently has a consensus rating of “Moderate Buy” and a consensus price target of $10.40.

Companhia Paranaense de Energia – Copel Price Performance

The company’s 50-day moving average price is $11.37 and its two-hundred day moving average price is $10.16. The company has a market capitalization of $10.00 billion, a price-to-earnings ratio of 24.43, a PEG ratio of 4.22 and a beta of -0.11.

Companhia Paranaense de Energia – Copel (NYSE:ELPC) last posted its quarterly earnings data on Thursday, February 26th. The company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.03. The firm had revenue of $1.25 billion for the quarter, compared to analyst estimates of $4.52 billion.

Insider Transactions at Companhia Paranaense de Energia – Copel

In related news, Director Pedro Franco Sales sold 153,700 shares of the stock in a transaction on Wednesday, April 8th. The shares were sold at an average price of $3.19, for a total transaction of $490,303.00. Following the transaction, the director directly owned 74,844 shares of the company’s stock, valued at $238,752.36. This represents a 67.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of ELPC. Letko Brosseau & Associates Inc. boosted its stake in Companhia Paranaense de Energia – Copel by 10,965.8% during the fourth quarter. Letko Brosseau & Associates Inc. now owns 7,276,402 shares of the company’s stock worth $69,199,000 after acquiring an additional 7,210,646 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in Companhia Paranaense de Energia – Copel by 575.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,078,808 shares of the company’s stock worth $10,259,000 after acquiring an additional 919,086 shares in the last quarter. SPX Gestao de Recursos Ltda boosted its stake in Companhia Paranaense de Energia – Copel by 1,194.4% during the fourth quarter. SPX Gestao de Recursos Ltda now owns 918,127 shares of the company’s stock worth $8,731,000 after acquiring an additional 847,198 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its stake in Companhia Paranaense de Energia – Copel by 288.1% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 653,418 shares of the company’s stock worth $6,214,000 after acquiring an additional 485,063 shares in the last quarter. Finally, Itau Unibanco Holding S.A. bought a new position in Companhia Paranaense de Energia – Copel during the fourth quarter worth $3,935,000.

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.