Companhia Paranaense de Energia – Copel (NYSE:ELPC) Stock Rating Upgraded by Zacks Research

Companhia Paranaense de Energia – Copel (NYSE:ELPC) was upgraded by stock analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Wednesday, Zacks reports.

ELPC has been the topic of a number of other reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Companhia Paranaense de Energia – Copel in a research report on Thursday, October 15th. Wall Street Zen downgraded shares of Companhia Paranaense de Energia – Copel from a “buy” rating to a “hold” rating in a research report on Sunday, September 13th. Two equities research 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 stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $10.40.

Companhia Paranaense de Energia – Copel Price Performance

ELPC opened at $10.78 on Wednesday. Companhia Paranaense de Energia – Copel has a 12 month low of $8.86 and a 12 month high of $14.51. 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 business has a fifty day moving average price of $12.56 and a 200 day moving average price of $11.77.

Companhia Paranaense de Energia – Copel (NYSE:ELPC) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.02. The firm had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.17 billion. On average, research analysts anticipate that Companhia Paranaense de Energia – Copel will post 0.82 earnings per share for the current year.

Insiders Place Their Bets

In other Companhia Paranaense de Energia – Copel news, Director Pedro Sales sold 50,000 shares of the company’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 transaction, the director directly owned 24,844 shares in the company, valued at approximately $86,457.12. This represents a 66.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Institutional Investors Weigh In On Companhia Paranaense de Energia – Copel

A number of institutional investors and hedge funds have recently modified their holdings of ELPC. Quantinno Capital Management LP grew its holdings in 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 valued at $4,709,000 after purchasing 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% in the first quarter. Hsbc Holdings PLC now owns 258,536 shares of the company’s stock valued at $3,087,000 after buying an additional 76,653 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Companhia Paranaense de Energia – Copel during the 3rd quarter worth $1,003,000. Sei Investments Co. boosted its position in shares of Companhia Paranaense de Energia – Copel by 8.8% in the 1st quarter. Sei Investments Co. now owns 71,314 shares of the company’s stock worth $852,000 after buying an additional 5,787 shares in the last quarter. Finally, Principal Financial Group Inc. purchased a new stake in shares of Companhia Paranaense de Energia – Copel in the 1st quarter worth about $540,000.

About Companhia Paranaense de Energia – Copel

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.